Branson for Flybe?

“Virgin Atlantic Airways is in talks to acquire regional airline Flybe Group Plc (FLYB.L), Sky News reported on Thursday, a week after Flybe said it was in talks to sell itself.

A tie-up with Flybe would provide opportunities to feed passenger traffic into Virgin Atlantic’s long-haul network and access valuable take-off and landing slots at London Heathrow Airport, Sky News reported, citing unnamed sources.

Virgin Atlantic’s main business is UK-to-U.S. flights. The company is owned by Richard Branson’s Virgin Group and U.S. airline Delta Air Lines.

The report did not mention any financial details. Flybe has a market capitalization of about 21 million pounds, according to Refinitiv Eikon data.

Flybe and Virgin Atlantic declined to comment.

Flybe issued a profit warning in October citing weakening demand, higher fuel costs and a weaker British pound.

Sky News had previously reported that Stobart Group Ltd (STOB.L) was likely to be one of the potential suitors for Flybe.”

https://uk.reuters.com/article/uk-flybe-group-m-a-virgin-atlantic/virgin-atlantic-in-talks-to-buy-flybe-sky-news-idUKKCN1NR27Y

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