Stobart's former CEO buys 10% stake in Flybe: Sky News

The former CEO of Stobart Group, Andrew Tinkler, bought about 10% of British airline Flybe Group on Friday, Sky News reported. Stobart is part of a consortium led by Virgin Atlantic Airways and including Cyrus Capital Partners that said on Friday it will buy Flybe for $2.8m, aiming to rebrand the struggling regional carrier. Tinkler has been involved in a lengthy legal battle with Stobart after he was ousted from the infrastructure and support services group last year for alleged breach of contract and breach of fiduciary duty. It was unclear how much he paid for the Flybe stake, who he had acquired it from and whether he planned to make any further purchases, according to the Sky News report. But a source close to Tinkler told Sky News he is not seeking to disrupt the proposed takeover.<br/>