At a general meeting held on March 4, 63% of Flybe Group shareholders voted to approve the recommended cash offer for Flybe by Connect Airways, under which Connect Airways will acquire the entire issued and to be issued share capital of Flybe.
In an official notice, Flybe stated that the results of the shareholder votes will not impact the assets, flights and operations of Flybe Limited, which continue to operate as normal under the ownership of Connect Airways following the completion of the sale of Flybe’s two operating subsidiaries, Flybe Limited (including Flybe Aviation Services Limited) and Flybe.com Limited.
The completion of the acquisition remains subject to the court sanctioning the scheme, which is scheduled for March 8, 2019. If sanctioned, the scheme will become effective on March 11, 2019.