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(Reuters) – Flybe Group Plc announced it has received a preliminary proposal from Bateleur Capital, Mesa Air Group Inc., with the support of former Stobart Group boss Andrew Tinkler, for a possible funding proposal.
Flybe said on Wednesday that the proposal was "highly conditional" and that she did not think it was executable within the required time frame to allow Flybe to continue trading.
Virgin Atlantic, Stobart Group and Cyrus Capital, of Richard Branson, have agreed to buy Flybe for an initial amount of 2.2 million pounds.
Flybe said earlier this month that he had been approached by Tinkler about a possible funding proposal.
(Report of Noor Zainab Hussain in Bengaluru, edited by Bernard Orr)
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