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Flybe rescued by Virgin and Stobart

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Flybe is being bought for
The shares had been trading at more than 30p before the profits warning, which sparked a downward spiral in the price.The consortium, known as Connect Airways, will initially lend ?20m to Flybe to support the on-going operations of the airline.A further ?80m will be invested in Flybe, which describes itself as Europe's largest regional airline.Christine Ourmieres-Widener, Flybe's chief executive, said: "The industry is suffering from higher fuel costs, currency fluctuations and significant uncertainties presented by Brexit. We have been affected by all of these factors which have put pressure on short-term financial performance".
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