As the matter of the fact, the virgin Atlantic and Stobart lead consortium to rescue Flybe. It has been said that the regional aircraft company in the shape of the Flybe is protected and help from becoming the victim of the bankruptcy. This move came from the companies in the name of the Stobart Group along with the Virgin Atlantic. With the help of the unique and unmatchable company i.e. Connect Airways; the joint venture would be joining the capital of the Cyrus to be able to buy the company of the Flybe. It has been said that the company has the total worth of assets and value amounted to pound 2.2 million. One of the important news has to be the fact that the shareholders of the company in the form of the Flybe would be able to get the one pence on every single share.
According to the CEO of the company of Flybe, it has been mentioned that the airline industry and the marketplace has been having the problem like the ever-rising fuel costs, the dramatic change and variations in the currency and the most significantly, the huge range of the prevailing uncertainties that are driven by the major event of the Brexit. In short, the airline industry is suffering from the wide range of issues that can turn out to be damaging for the company and the brand. Moreover, the CEO stated that owing to these negative and disturbing socio-economic and the most importantly, the instable political environment, the company has been facing the problem of the weak and bad financial position and the weakening of the performance of the company as far as the financial standing is concerned.