Economy

Exeter Airport on importance of landmark £2.2m Flybe deal

Exeter Airport on importance of landmark £2.2m Flybe deal

Lucien Farrell, partner of Cyrus, which helped Virgin sell its Virgin America arm to Alaska Airlines past year, added: "We believe Flybe's United Kingdom regional focus and high quality management, together with Virgin Atlantic's dedication to the best customer experience and Stobart Group's expertise in regional flying, will produce a world-class airline".

Although it is small in financial terms, Flybe remains one of the UK's best-known airline brands, carrying thousands of passengers between largely second-tier British airports as well as European destinations.

A spokesperson for Virgin Atlantic said the Flybe rebrand would coincide with a refurbishment program of its fleet.

The sales process was initiated just months after the carrier pulled the plug on talks with the UK Stobart Group, which owns Stobart Air, that would have seen the airline being bought out. The carrier will be purchased via Connect Airways, in which Virgin and Stobart each have 30 percent stakes, with the balance held by Cyrus.

Flybe to fly on but under the name Connect Airways.

Flybe put itself up for sale in November 2018 following a profit warning due to falling demand.

Danny Ainge is not anxious about Marcus Morris-Jaylen Brown altercation
However, though you may see Smart get in a confrontation with Cleveland Cavaliers shooting guard J.R. Stevens' acknowledgement of it as a silver lining in the midst of dustup says as much.

Stobart Group has formed a consortium alongside Virgin Atlantic and Cyrus Capital to acquire Flybe in a move created to help the airline "be better placed" to withstand certain pressures including higher fuel costs, currency fluctuations and uncertainties presented by Brexit.

As part of the deal, Connect will provide a GBP20 million bridge loan for Flybe's operational requirements.

For Virgin Atlantic, control of Flybe's regional network will provide a valuable feed into its long-haul flights to global destinations.

Flybe CEO Christine Ourmieres-Widener said: "By combining to form a larger, stronger, group, we will be better-placed to withstand these pressures. We aim to provide an even better service to our customers and secure the future for our people".

In the meantime it says it will continue to support Flybe and the Ports of Jersey route development team will be "happy to have discussions" with any new owners.

In the United Kingdom, they serve Aberdeen, Belfast City, Birmingham, Cardiff, Doncaster-Sheffield, Durham Tees Valley, East Midlands, Edinburgh, Exeter, Glasgow, Guernsey, Humberside, Inverness, Isle of Man, Jersey, Leeds Bradford, Liverpool, London City/Gatwick/Heathrow/Southend/Stansted, Manchester, Newcastle, Newquay, Norwich, Southampton, Stornoway and Wick. "It will allow us to continue to work with Flybe and provides an excellent opportunity to continue to grow passenger numbers at London Southend airport".


  • Why The Craft Brewing Industry Is Stalled Amid The Government Shutdown

    Why The Craft Brewing Industry Is Stalled Amid The Government Shutdown

    Craft breweries are in fierce competition with each other for innovative new beers. As for Gift Horse, Snyder says they shouldn't lose much money. if any at all.
    Some House Dems upset with Ocasio-Cortez

    Some House Dems upset with Ocasio-Cortez

    She floated the idea during an interview on the CBS show " 60 Minutes ", which will be shown on Sunday. Democrats and Republicans alike have accused Ocasio-Cortez of hypocrisy.
    Malignaggi on Pacquiao-Broner: 'It's a Very Tricky Fight'

    Malignaggi on Pacquiao-Broner: 'It's a Very Tricky Fight'

    If Pacquiao wants to fill out the Wild Card Gym next time he has a public workout, it's probably only Mayweather that would do it. I think I have all the tools to beat him. "I can not say about the future until January 19".
  • Smith to undergo elbow surgery in ban return setback

    Smith to undergo elbow surgery in ban return setback

    Smith is not expected to regain full fitness in this period, read a statement issued by the Pakistan Cricket Board on Saturday. As a result, Steven Smith is likely to be in a brace for six weeks, post which he will have to go through rehabilitation.
    Bungie to take sole control over Destiny

    Bungie to take sole control over Destiny

    While officially the split remains amicable, players and onlookers alike are wondering what it means for the future of Destiny . It will be interesting to see now whether the next Destiny game - or even Destiny 2 - will rely less on micro-transactions.
    Billions of stars (including the sun) are turning into crystals

    Billions of stars (including the sun) are turning into crystals

    White dwarfs are extremely dense stars, so the positively charged nuclei in their cores exist as a fluid, the scientists say. The twinkling orb may look similar to the other fiery stars around it, but it is actually a ideal sphere of crystal.
  • US Moves in Syria Irk Russia, Turkey

    US Moves in Syria Irk Russia, Turkey

    Last week, President Erdogan angrily rejected calls by US National Security Adviser John Bolton for the Kurdish fighters to be protected.
    Putnam has career-best 62 to lead Sony Open

    Putnam has career-best 62 to lead Sony Open

    He waited until the 16th hole for his first birdie of the year, and that was all he made in his round of 73. He caught himself from dropping shoulder-height behind the 18th green.
    Brexit: Jeremy Hunt says UK Parliament won’t allow no deal

    Brexit: Jeremy Hunt says UK Parliament won’t allow no deal

    A senior Norway-supporting Labour MP said their option could gain the upper hand as it can command broader support among Tories. Mrs May said: "When you turned out to vote in the referendum, you did so because you wanted your voice to be heard".
  • Real Madrid coach Solari: Isco knows what he has to do

    Real Madrid coach Solari: Isco knows what he has to do

    We'll have to see who plays tomorrow, the squad list hasn't been completely decided on yet. "[Injuries] are part of the game". We will look at how we can improve that, and look to get them all back as soon as possible, as we need everyone available.
    No. 13 FSU confident, ready to host No. 1 Duke, Zion Williamson

    No. 13 FSU confident, ready to host No. 1 Duke, Zion Williamson

    The Seminoles had their outside game working, too, and so did Duke with Reddish and Barrett leading the way. For Reddish, it was a redemptive moment after a six-game stretch in which he hit a bit of a shooting slump.
    Megyn Kelly Confirms Comeback to TV After NBC Exit for Defending Blackface

    Megyn Kelly Confirms Comeback to TV After NBC Exit for Defending Blackface

    Since the announcement, her status had been in limbo as lawyers worked out the details of the breakup. Megyn Kelly Today kicked off in mid-2017, though the show seemed to be doomed from the start .