Company expected to lose £12 million this year
Flybe is putting itself up for sale - weeks after a savage profit warning.
The Exeter-based airline - which flies routes from the Island including Liverpool, Manchester and Birmingham - said last month that it expected to lose twelve million pounds this year.
The company has been struggling because of Brexit-related uncertainty, the weaker pound and soaring fuel costs.
The airline's board has confirmed it was "in discussions with a number of strategic operators about a potential sale of the company" and was also reviewing other options including cutting flights.
The Stobart group has been mentioned in some reports as a possible buyer.
The airline's shares have fallen by almost 75% since September.
It's now valued at around £25m, far below the £215m it was valued at when it floated on the stock exchange in 2010.