Flybe Group has formally accepted the recommended cash offer by Connect Airways Limited, under which Connect Airways will acquire the entire issued and to be issued share capital of the airline.
The decision was announced today, following a Court Meeting and a General Meeting.
In January, Flybe’s board approved the £2.2 million sale to Connect Airways, which is a consortium made up of Virgin Atlantic, Stobart Group and Cyrus Capital.
The results of the shareholder votes will not impact the carrier’s assets, flights and operations of Flybe, which would continue to operate as normal under the ownership of Connect Airways following the completion of the sale of Flybe’s two operating subsidiaries, Flybe Limited (including Flybe Aviation Services Limited) and Flybe.com Limited.
Completion of the acquisition remains subject to the satisfaction or waiver of the remaining conditions set out in a Scheme Document, including the court sanctioning the scheme at a court hearing, which is scheduled for 10.30 am on 8 March 2019.