U.K.’s Flybe Seeking Government-Backed Funding Deal Within Days

U.K. regional airline Flybe Group Plc has only days to secure a rescue package that could include help from the government, according to a person with knowledge of the talks, Bloomberg News reported. Flybe owner Connect Airways, comprising Virgin Atlantic Airways Ltd., Stobart Group and Cyrus Capital, is looking for state assistance to avoid putting the airline into liquidation, said the person, who asked not to be identified discussing a private matter. That could involve measures such as suspending U.K. air passenger duty owed by the carrier, the person said. U.K. Prime Minister Boris Johnson’s spokesman, James Slack, together with the Department for Transport, declined on Monday to comment on speculation surrounding a private company. Read more