Flybe poised for stock-market take-off
Regional UK airline Flybe today revealed plans to take the company public in a bid to raise £60m (€71m).
The privately-owned carrier, which claims to be one of only a few European airlines to report profits since the financial crisis, said it will put some of the cash raised towards a fleet of new aircraft.
The airline, which will use the rest of the proceeds to support growth plans, such as codesharing and takeovers, would not comment on the expected value but a recent report suggested it could be in the region of £200m (€237m).
The current shareholders, which include the founding Walker family, British Airways, and chief executive Jim French, are not expected to sell their interests in the airline.
The Exeter-based carrier, which employs more than 2,900 people and operates 215 routes across Europe, posted pre-tax profits of £6.8m (€8m) in the year to March 31, down from £12.8m (€15.2m) the previous year.
