Flybe prepares stock flotation

Flybe plane
Flybe plane

Flybe, Britain's largest domestic airline with services from Manston to Edinburgh and Manchester, is preparing a £200 million stock market flotation.

According to news sources, the company will announce this week that is to launch an initial public offering (IPO) that will value the airline at an estimated £200m.

A successful flotation could lead to further expansion of the airline by acquisition and new services.

Flybe launched its service between Kent International Airport and Edinburgh in May, followed by its Manchester service in September.

When the Manston-Edinburgh route was announced in February, it was anticipated that Flybe would operate five flights per week in the winter season. However, demand has led the airline to operate a daily year round service on the route.

Flybe operates 72 aircraft, flying to 13 countries and serving 38 airports in Britain, 32 in continental Europe. It carried 7.2m passengers. Pre-tax profits rose to £5.7m in the year to March 31 on turnover of £570.5m. British Airways has a 15 per cent stake in the airline.

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