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Stobart invests $12 million in Flybe

Christian Fernsby ▼ | January 16, 2020
Stobart Group will provide 9 million pounds ($11.8 million) in funding for Flybe as part of the government rescue of the regional airline, the infrastructure group said today.
Air industry   Flybe
Stobart said it had already invested 45 million pounds in Connect Airways, a consortium comprising the London-listed company, Cyrus Capital and Richard Branson’s Virgin Atlantic, which acquired the assets of Flybe last year.

Topics: Stobart Flybe

Stobart holds less than a one-third shareholding in the consortium, which has to date provided 110 million pounds in funds to Connect Airways.

“This resulted in a situation in which a further injection of funds is required to ensure continued flying,” Stobart said in a statement.