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Flybe Group's shares surged 40% Monday after the Sunday Telegraph reported that Virgin Atlantic and IAG will battle it out to buy the regional airline. Flybe has been in talks with multiple parties to sell itself as it grapples with falling demand, higher fuel costs and a weak British pound. Friday it said Virgin was a potential buyer. IAG is a frontrunner in the race to buy Flybe, the Sunday Telegraph reported Saturday, citing industry sources. Sky News had previously reported that Stobart Group was also a likely suitor. Flybe and IAG declined comment Monday. Meanwhile, EasyJet and Ryanair have said they are not interested in buying Flybe. Flybe has also said it would consider other options besides a sale, such as further reductions in capacity and costs. <br/>

Qatar Airways will add more flights to Iran from January, the airline announced Monday just weeks after the US re-imposed sanctions aimed at crippling Tehran's economy. President Donald Trump has threatened to bar companies that continue to do business with Iran from the US market. Qatar Airways will add 2 weekly flights to its existing Doha-Tehran route and add 3 weekly flights on its Shiraz service in January. It will also launch 2 weekly flights to Isfahan in February. “These latest launches are further evidence of Qatar Airways’ commitment to Iran, as well as the expansion of our network in this thriving market," Qatar Airways CE Akbar al-Baker said. Qatar has forged closer economic ties with Iran since June 2017 when Saudi Arabia and the UAE cut political and economic ties with Doha. <br/>