Virgin Atlantic in talks to rescue Flybe

SHOCK Richard Branson has announced a surprise takeover of Flybe

Mr Charlton said that Virgin Atlantic may also benefit from certain regional routes flown by Flybe which would deliver passengers into London for Virgin Atlantic's long-haul operations based in London's Heathrow and Gatwick airports.

Tough competition in the industry has also led to a price way between airlines.

Shares in the Exeter airline surged in response to confirmation of Virgin Atlantic's interest. The British carrier is the largest regional airline in the world.

Working as a feeder airline could be a new dawn for struggling Flybe and one thing Virgin Atlantic is likely to be considering is the potential to explore European connections from Virgins busiest hub, Heathrow thanks to the existing slots.

The company agreed a three-way deal past year with Air France-KLM and Delta Air Lines under which the Franco-Dutch group would acquire a 31% stake in Virgin Atlantic from Sir Richard's holding company for £220m.

India vs Australia 3rd T20I: Everything you want to know
The Aaron Finch-led side, would look to put up a strong show as they are just a win away from the much-needed series win. Kohli's knock, which came off just 41 deliveries, was laced with four boundaries and a couple of sixes.

The deal is subject to regulatory approvals. Stobart Group had considered a former offer earlier this year, but its bid was rejected by Flybe.

Since confirming that it was exploring a sale, Flybe has taken further steps to shore up its finances, announcing an extension of its borrowing facilities and a £5m sale and leaseback of an aircraft hangar.

Last week, Flybe said it was in talks with "a number of strategic operators" about a potential sale of the company as it reported a 54% drop in first-half profits to £7.4mln on a 2.4% drop in revenues to £419.2mln.

Flybe has 78 planes operating from smaller airports including Birmingham, London City, Southampton and Norwich, and flies to destinations across the United Kingdom and Europe.

Flybe and Virgin Atlantic have yet to comment.

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