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Flybe deal agreed by shareholders

Positive news for Connect Airways consortium

Flybe investors overwhelmingly backed a deal which saw them receive just 1p per share yesterday (Mon 4)

Eighty-three percent of them voted in favour of the sale of the holding company Flybe Group.

There had been concern that a rebellion by some unhappy with the low price would mean the deal would fail.

The move is positive news for the Connect Airways consortium, which bought the Flybe's business operations in a £2.8 million deal agreed last month.

The consortium, led by Virgin Atlantic, also includes infrastructure specialist Stobart and investment firm Cyrus Capital.

Infrastructure Minister Ray Harmer says watch this space for further details shortly.

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