Flybe to be bought by Virgin Atlantic for a mere £2.2 million!

Times haven’t been good for the UK regional carrier as it put itself to sale to be taken over by anyone who was willing to rescue the company. Rising fuel costs and limited services have brought down the commercial passenger aircraft business to a huge loss. In spite of yesterday’s closing value being £36 million, Flybe has been finalized a mere £2.2 million.

The Stobart group has already purchased a few of its flights which operate under the carrier’s original name. As of now, Flybe has regular flights from places such as Southampton, and Cardiff to the UK. While the shares have been going terribly down in the past few months, we guess this was a better move by the airlines to save itself from a complete shutdown.