Skip to content
  • fb
  • tw
  • li
TahoNews

TahoNews

Blogging News Site

  • Home
  • World News
  • Travel
  • Layout
    • Full Width No Sidebar
    • Right Sidebar
    • Left Sidebar
  • Contact
  • Toggle search form

Virgin Atlantic Likely To Bail Out Cash-strapped Flybe

Posted on November 30, 2018 By Alice Martin No Comments on Virgin Atlantic Likely To Bail Out Cash-strapped Flybe

Virgin Atlantic has confirmed that it is in discussions with cash strapped airlines firm Flybe and there could be an outright purchase or close alliance between the two. After Exeter based Flybe declared itself bankrupt and open for sale, it was in discussions with several airlines including Virgin. Flybe had warned investors last month that its annual losses for 2018 would be in the range of £ 22 million due to multiple reasons consisting of falling demand, a weak pound and soaring fuel costs. While Flybe confirmed that no offer has been made by Virgin the latter said that since it already has a trading and code-sharing relationship with Flybe it is reviewing options.

Since the shares of Flybe fell down to 50p during March this year they have been continuing the downtrend and fell by nearly three quarters, but after signs of a takeover by Virgin they jumped to 14.3 p. Virgin’s officials said that discussions are on about whether it would be suitable to have a commercial arrangement with Flybe or make an outright offer. According to aviation analyst Andrew Charlton, Virgin is interested in the budget carrier as it will gain greater access to take-off and landing slots at crowded Heathrow airport and other locations in UK.

Virgin would have to wait for buying such landing slots but this purchase would help it to gain outright access to them. Besides this Flybe caters to several regional routes within UK that could be used by Virgin to fly passengers into London and Gatwick airports to connect with its own long-haul route passengers. Flyby started operations in 1979 and presently owns 78 planes that operate out of small airports like Southampton, Cardiff, Belfast City, Aberdeen, London and Norwich carrying passengers across the UK and Europe. Though it has a sizeable customer’s base and ferries nearly eight million every year it has been struggling to cut costs after an expensive IT upgrade of its systems.

Business

Post navigation

Previous Post: Indonesia’s Bali Resort To Ban Use Of Smartphone Around The Pool
Next Post: Bayada Health Care Employees Receive $20 Million From Chairman

Related Posts

AT&T’s Stock Drops Down As The Company Misses Expected Revenue Targets Business
Microsoft, Kroger Compete Amazon With The Next Gen Grocery Store Project Business
Lyft Plans Investor Road Show For IPO Of $2bn Business
Jerome Powell Says “Won’t Resign” Business
Law firm SEO Services 5 tips to hire best seo company for law firm Business
Brexit Will Leave UK Poorer, Says Govt Forecast Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Which Crypto to Buy Now?
  • Is PR Important for Blockchain Companies?
  • Benefits Of Studying A Part Time Degree Course In Singapore
  • Trends of Pain Management Therapeutics Market
  • How Smart Devices Can Provide Home Security

Tags

#Digital #Signage #OutdoorAdvertising Android App Asphalt Contractors & Driveway Services baby formula Best Nutritionist in Delhi Best Nutritionist in Mumbai business Cheap Airlines Clean carpet cleaning services near me cobb county probation violation Coffee concrete driveway concrete driveway Sydney dog Energy Drinks Fashion featured Google Nest Wifi Google Wi-Fi Google Wifi Review Greece Honeymoon places London speaker hire Monitoring Outfits probation violation attorney cobb county Protein Protein Coffee protein coffee ripped up nutrition Protein Shake QuickBooks QuickBooks Error 1328 retro joystick Spy Thailand Travel Travel Australia trekking in Nepal vacuum cleaning Vector Whatsapp WordPress customization WordPress design services

Categories

  • Animals (8)
  • Business (112)
  • Education (10)
  • Event & Festivals (1)
  • Fashion (3)
  • Finance (1)
  • Food (3)
  • General (25)
  • Health (73)
  • Nature (3)
  • News (3)
  • Pattern (1)
  • People (35)
  • Science (75)
  • Space (3)
  • Technology (139)
  • Top Stories (256)
  • Travel (12)
  • Vector (3)

Latest Post

  • Which Crypto to Buy Now? January 25, 2023
  • Is PR Important for Blockchain Companies? September 28, 2022
  • Benefits Of Studying A Part Time Degree Course In Singapore August 16, 2022

Copyright © 2023 TahoNews.

Powered by PressBook Grid Blogs theme