Virgin Atlantic-led consortium completed the acquisition of Flybe Group for £84m.

Virgin Atlantic, a British airline, Stobart Group, a British infrastructure, aviation, energy and civil engineering company, and Cyrus Capital, an investment advisory firm, completed the acquisition of Flybe Group, a British airline, for £84m ($104m). "The Board of Stobart Group believes that bringing Stobart Air together with Flybe and partnering with Virgin Atlantic and Cyrus Capital is the best way for us to play an active role in UK regional flying. The combined entity will be a powerful combination with sufficient scale to compete effectively in the UK and European airline markets. It will allow us to continue to work with Flybe and provides an excellent opportunity to continue to grow passenger numbers at London Southend Airport." Warwick Brady, Stobart Group CEO.