Flybe operating 'normally' as new owner Connect takes over

Flybe’s flights are continuing as normal following Connect Airways’ acquisition of the carrier Feb 21. Former parent Flybe Group states that its trading entities, including the airline and its digital arm, have been sold to Connect “in accordance” with the terms of the share purchase agreement unveiled in mid-January. “Flybe flights continue to operate as normal,” the group states. As a result of the GBP2.8m sale Flybe Group has been left as an empty company. It says it has “limited cash” as a result of the transaction, but no other material assets. The cash will cover the residual and run-down costs of Flybe Group. “It is not anticipated that, after meeting these costs, there would be any remaining funds available for distribution to shareholders,” the company said. <br/>