UNDER-pressure airline Flybe
is in negotiations about a possible sale of the group weeks after warning over profits.
The carrier – which has flights from Aberdeen, Edinburgh, Glasgow, Inverness, Stornoway and Wick – said it is also looking
at further cutting costs and
flight capacity as it battles challenging conditions in the
airline industry.
The group is in talks with a number of “strategic operators” about a potential sale and has hired Evercore as adviser to help with the review and sale process.
Flybe warned over profits several weeks ago following falling demand and a £29 million hit from rising fuel costs and the weak pound.
The alert sent shares tumbling
by more than a third on the day
and nearly 75% has been wiped off its stock market value since December.
But shares in Flybe lifted 6% after news of its sale plans.
Stobart Group walked away from a bid for Flybe in March after the two firms failed to agree terms.
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