Flybe soars as Virgin Atlantic reportedly mulls takeover bid
Shares of UK regional airline Flybe soared Friday in the wake of reports Virgin Atlantic was in talks about a takeover bid.
Virgin Group's interest in Flybe comes as the transatlantic airline seeks to connect long-haul operations with smaller UK airports.
Flybe said earlier this month that it was exploring a possible sale after reporting that pre-tax profits more than halved in the first half of the year owing to headwinds from higher fuel and currency costs. Story provided by StockMarketWire.com
Bitter rivals Sir Richard Branson and Willie Walsh are to lock horns in a bid battle for ailing regional carrier Flybe as experts warn failure of the country's biggest regional airline could be catastrophic for a string of smaller airports. After years of struggle, loss-making Flybe has put itself up for sale following warnings of "material uncertainty" over its future. - Telegraph.