Flybe plans European expansion; looking at two acquisitions
21.09.10
Flybe is looking at two acquisitions as it seeks to build bases in continental Europe, expanding from its strong UK base, Bloomberg reports. Chief Executive Officer Jim French said in an interview the purchases being considered are ‘digestible,’ without disclosing a likely value.
The regional airline will continue its expansion into continental Europe after becoming one of only three major European airlines to report profits throughout the recession. Flybe signed a code sharing agreement with Air France in July, and is in 'ongoing discussions' with Finnair to gain greater access to the Scandinavian market. It is now looking at potential acquisitions of regional airlines in Europe after weathering the economic downturn.
But Mr French said the airline would maintain its regional ethos, with flight times continuing to average less than an hour, on board planes with just 85 seats. He said the recently announced addition to its fleet of up to 140 new Embraer E-series aircraft would also enable it to 'accelerate the roll-out of the Flybe proposition into continental Europe'.
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