Flybe shares have jumped 28 per cent after it announced that it has put itself up for sale, as it struggles with higher fuel costs, lower demand and a weaker British pound.
The airline’s stock has lost nearly two-thirds of its value since the company issued a profit warning last month, underscoring challenges faced by rival European airlines including Ryanair, Wizz Air and Easyjet.
The regional airline also said it was looking at other strategic options such as further capacity and cost saving measures.
The company has already reduced its fleet size, focussed on profitable routes and cut costs as it pushes ahead with investments in a new digital platform. It has also been hedging its fuel costs and foreign exchange risks.
The company also said it was developing Brexit contingency plans, including potentially reassigning contracts that could be directly affected.