Separate agreement for airline and website
Flybe has warned shareholders it will wind up the company if they do not back a sale to a consortium led by Virgin Atlantic and Stobart Air.
The company was sold to the consortium, which also includes venture capital firm Cyrus, last month for £2.2 million. The new airline is due to operate as Connect Airways.
The low sale price means shareholders would receive just a penny a share.
A meeting to approve the sale will be held on 4 March.
However, on 15 January, to avoid the airline going into administration, the Flybe board entered into a separate agreement to sell the operating subsidiaries including the airline and the website.
That sale is expected to be competed by 22 February, and does not require shareholder approval.
Bed shortages at Noble's are 'no threat' to TT 2026
Updates planned to beneficial ownership framework
Commissioners say residents left in 'void' over plans for onshore windfarm
Charity ball in Douglas to support air ambulance and neonatal care
