Shareholders to meet on 4 March to finalise sale of holding company
A deal to sell Flybe's business to Connect Airways was completed yesterday.
The £2.8 million pound deal, agreed earlier in the year, was completed late on Thursday evening.
Connect had been waiting to gain approvals from EU competition authorities and negotiating with Flybe's pension trustees.
The pension scheme was based on the Island.
Connect Airways is a consortium includes Virgin and the Stobart group, along with venture capital firm Cyrus.
Connect is set to take on the whole of Flybe’s pension liabilities.
A further meeting of shareholders to approve the £2.2 million sale of the shell company, Flybe Group, set to take place on 4 March, could still face a backlash from shareholders who are due to receive just a penny a share in the deal.
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