Virgin Atlantic and Flybe have both confirmed they are in talks over a possible deal after the regional carrier put itself up for sale.

There had been speculation about a possible take-over, with Virgin Atlantic saying it was “reviewing its options in respect of Flybe”, though both airlines say no deal has been agreed.

In a release to the London Stock Exchange, Flybe confirmed talks were ongoing with potential suitors, saying “Virgin Atlantic Airways is one of the parties it is in discussions with as part of the formal sale process announced on 14 November 2018”.

However, Flybe warned: “There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made. Further announcements will be made in due course as appropriate.”

Meanwhile, Virgin Atlantic said it was considering its options with its codeshare partner, including “enhanced commercial arrangements” and “a possible offer for Flybe”.

It also warned a deal is not guaranteed.

Flybe has not confirmed which other groups it may be in talks with, though there is some speculation that Virgin Atlantic could be in a bidding war with International Airlines Group (IAG).

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