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Shares in regional airline fall 90% after consortium led by Virgin offers cut-price deal Flybe has recommended shareholders accept a cut-price £2.2m takeover offer from a consortium led by Virgin Atlantic, after the regional airline struggled with rising fuel costs, currency volatility and political uncertainty. Virgin, part-owned by the billionaire Sir Richard Branson, has banded together for the deal with the infrastructure firm Stobart Group and the investment house Cyrus to form a joint venture, Connect Airways. Continue reading...