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Ailing no-frills British airline Flybe on Wednesday rejected a counterbid and repeated its backing for a takeover from a consortium led by Britain's Virgin Atlantic.
In a statement, Flybe confirmed media speculation that it had received a new "highly conditional" proposal from a group comprising US airline Mesa Air and New York-based investment group Bateleur Capital.
Carrier - Proposal - Timeframe - Flybe
The troubled carrier said that it "does not believe that the (new) indicative proposal is executable in the timeframe required to enable Flybe to continue to trade".
The news comes one month after Flybe agreed to a takeover from Virgin's consortium—which also comprised infrastructure specialist Stobart and investment firm Cyrus Capital Partners—in a joint venture called Connect Airways.
Flybe added Wednesday that it would continue to work with...
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