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Flybe reaches rescue deal with shareholders

Flybe plane taxiing

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Troubled regional airline Flybe has struck a rescue deal with its investors and the government.

The firm’s shareholders, which include Virgin Atlantic and Stobart Group, have agreed to put more money into the loss-making airline.

Meanwhile, the government has agreed to review air passenger duty, which had added to the firm’s losses.

Business Secretary Andrea Leadsom has said that the deal would keep the company operating.

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