Virgin Atlantic in talks to buy Flybe
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Virgin Atlantic has entered talks over a possible takeover of struggling UK regional carrier Flybe.
Virgin Atlantic is in talks over a possible takeover of the struggling regional airline Flybe.
The transatlantic carrier, part-owned by Sir Richard Branson, has opened discussions with Flybe advisers only four years after the closure of Little Red, an earlier attempt by Virgin to crack the domestic UK market.
Last week, Flybe bowed to growing financial pressure and put itself up for sale after a profits warning sent its stock market valuation into a nosedive.
Shares in Flybe surged after news broke about the potential takeover.
Analysts predict the takeover would be very profitable for Virgin as it would be able to link its transatlantic flights with destinations across the UK.
The two airlines already have a code-sharing relationship, where they market some of each other’s flights.
A Virgin spokesperson said: “Virgin Atlantic emphasises that there can be no certainty that an offer will be made nor as to the terms of any offer.”