Europe’s largest regional airline Flybe is to float on the stock exchange.
The airline announced today that it aims to raise £60 million through the initial public offering (IPO) next month.
The carrier will use the money to grow its fleet and provide some ballast for its bank balance as it hunts for further acquisition opportunities. Flybe acquired British Airways’ BA Connect back in 2007.
Staff own another 16% of the Flybe although the December float is not expected to bring any chunks of cash to shareholders.
Chairman and chief executive Jim French said: "We are delighted to bring Flybe to the market. The company has come a long way in a short time, from its origins as a provincial carrier to being one of Europe’s leading regional airlines. A listing will assist Flybe in achieving the next stage in its exciting strategy for growth. We look forward to welcoming new shareholders on board for the next leg of our journey."
by Dinah Hatch
