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Struggling Flybe confirms it is up for sale

Shares in struggling airline Flybe have surged after it put itself up for sale amid turbulence caused by currency volatility and higher fuel costs.
Flybe's stock soared by as much as 39% in early trading after it said it was "in discussions with a number of strategic operators about a potential sale of the company", confirming a move first reported by Sky News.
However, shares later closed down by 3.4%..The airline said it was part of a comprehensive review of its options "to address the current challenges facing the airline industry".It added that Brexit remained a major uncertainty for the sector and the wider economy and that a no-deal scenario would "put at risk, or damage, parts of the business".The carrier did not disclose the names of any potential buyer, though one is likely to be Stobart Group, the owner of Southend Airport, which abandoned a previous bid earlier this year.Flybe also said it was also looking at "further capacity and cost saving measures".The announcement came as the carrier reported a fall of more than half in pre-tax profits to €7.4m for the six months to the end of September, compared to €16.1m in the same period last year.

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Flybe warned
that it expected to report a €12m loss for the full year following weaker consumer demand over recent weeks - together with the impact of oil prices and the weaker pound.That warning sent shares in the company plunging by 40%. It has lost more than 60% of its value over the year to date, prior to the start of trading on Wednesday.
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