London: Struggling British no-frills airline FlyBe on Wednesday put itself up for sale, adding it was in talks with potential buyers in the face of a challenging market.
“The board of Flybe Group Plc announces today that it is undertaking a comprehensive review of
the various strategic options open to it to address the current challenges facing the airline industry and
maximise value for shareholders,” it said in a statement.
“These options include further capacity and cost-saving measures, initiatives to strengthen the balance sheet and preserve cash resources, as well as a potential sale of the company through the commencement of a formal sale process.”
The regional carrier added that it was “in discussions with a number of strategic operators about a potential sale of the company”.
The news comes weeks after Flybe had issued a profits warning on weak demand and alongside a £29-million hit from rising fuel costs and the weak pound.