Flybe is reportedly putting itself up for sale after profit warning & rising fuel costs.
Flybe, valued at £25 million by stock market price, is expected to announce a 12 million pound lose this year. It has been reported that the board will announce to the London Stock Exchange that it is exploring the possibility of a sale or Merger with a rival.
CAS Recruitments Managing Director Stephen Wilkinson recently wrote about the overcapacity within European aviation after Cobalt Air announced it would be ceasing operations.
It is unclear at this stage which other airlines might be interested in purchasing Flybe, although bankers said one potential buyer could be Stobart Group who owns Southend Airport.
In September Flybe had a fleet of 78 aircraft and promised investors during September that it would continue to reduce capacity while focusing on it’s most popular routes.
""Consumer demand in domestic and near-continent markets has weakened in recent weeks and the board now expects this to continue into the second half," the company said last month.
"This together with higher fuel prices and weaker sterling will impact the expected second-half profit performance."
Christine Ourmieres-Widener, CEO of Flybe recently said;
Source Sky News: https://news.sky.com/story/brexit-and-fuel-costs-force-airline-flybe-to-put-itself-up-for-sale-11553619