Flybe Group reaches agreement with Ryanair to establish Flybe Ireland

Flybe Group reached (06-Feb-2013) an agreement with Ryanair to establish Flybe Ireland in the event Ryanair's bid to takeover Aer Lingus is successful. The agreement would see the transfer of nine A320 aircraft on five-year operating leases and 43 routes from Aer Lingus to Flybe Ireland. The aircraft and routes would also come with employees to operate them. If Ryanair's takeover of Aer Lingus is approved, Flybe plans to seek formal shareholder approval for the aquisition of Flybe Ireland from Ryanair in early autumn 2013. Flybe said it received irrevocable acceptances representing 64% of the shareholders in support of this possible transaction, above the 50% level insisted by the European Commission. [more - original PR - Flybe] [more - original PR - Flybe II]