(Bloomberg) -- Britain agreed to back a plan to rescue regional airline Flybe, according to Business Secretary Andrea Leadsom.
The U.K. government has reached an agreement with Flybe’s shareholders to keep the company operating, the minister said in a tweet.
“This will be welcome news for Flybe’s staff, customers and creditors and we will continue the hard work to ensure a sustainable future,” she said, without disclosing details of the plan.
Bloomberg earlier reported that the discussions concerned the suspension of air passenger duty for the airline.
Flybe is owned by a group comprising Virgin Atlantic Airways Ltd., private-equity firm Cyrus Capital and Stobart Group.
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