Flybe negotiates £100m rescue deal as cash ‘runs out of the door’
Struggling regional airline Flybe is set to secure a £100m lifeline this week in order to save it from collapse.
Airline executives met with members of the government this weekend in a bid to secure a loan, amid reports that the firm has enough cash to last until the end of the month.
In January the government agreed to help the troubled airline, with Virgin Atlantic and Stobart Group to put more money into the business.
Justin Urquart-Stewart of Seven Investment Management told Radio Five Live’s Wake up to Money programme: “They should be capable of operating it…. but they are routes with volatile numbers.
“Add to it an economic slowdown… and what have you got? Cash running out of the door.”
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