The regional airline put itself up for sale this month after struggling with falling demand, higher fuel costs and a weaker pound Tim Goode/PAFlybe soared 23 per cent this morning following reports that Virgin Atlantic and the owner of British Airways are poised to launch a bidding war for the struggling airline. Shares in the regional carrier were trading at 3¾p earlier, up 20½p, as larger rivals circle. It was confirmed last week that Virgin, the airline set up by Sir Richard Branson, was “one of the parties” in talks with Flybe regarding a takeover. Faced with falling demand, higher fuel costs and a weaker pound, Flybe issued a profit warning in October and formally put itself up for sale this month. The airline, founded nearly 40 years ago, has become one of Europe’s…

Source: The Times November 26, 2018 12:00 UTC