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Flybe for sale after profits take a dive

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Flybe for sale after profits take a dive
Half-year profits at Flybe more than halved to £7.4 million on revenues down 2 per cent at £375 millionMATT CARDY/GETTY IMAGES

The beginning of the end of Flybe as an independent airline may be in sight after the regional carrier to put itself up for sale.

Only a month after Flybe issued another profit warning, prompting a further slide in the share price, it told the stock exchange that it was inviting interested parties to make a takeover approach to its investment bank advisers at Evercore.

Investors expressed shock that Flybe had announced its decision to put up a “for sale” sign, saying that the move indicated that attempts to find a buyer had failed.

The airline admitted that it had already talked to “a number of strategic operators”. Although Christine Ourmières-Widener, chief executive for the past 22 months, declined to define what “strategic operators” meant,…

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