Flybe announced the departure of its chief executive Christine Ourmières-Widener on Tuesday.

Christine Ourmières-Widener will stand down as chief executive on 15 July following Flybe’s sale to Connect Airways, a consortium founded by Virgin Atlantic, Stobart Aviation and Cyrus Capital Partners.

The airline was sold to the consortium for £2.8 million after weeks of speculation.

It has been struggling in recent years amid a tough trading environment for the aviation industry.

In particular, rising fuel prices, increased competition and currency movements have impacted the low-cost airline’s margins.

Many rival carriers such as Monarch and Primera Air both fell into administration amid these mounting pressures.

Ourmières- Widener commented on her departure: “It has been a privilege to lead Flybe over the past two years and to work with such an outstanding and dedicated team of professionals.

“Together, we have been able to secure the jobs of our loyal Flybe employees with the sale to Connect Airways and provide our customers and the UK with the vital transport and travel infrastructure they rely on, while preparing Flybe for a bright future under its new ownership.”

Flybe flies to 85 airports in the world and has a fleet size of 76. It has two hubs in the UK including Manchester and Birmingham.