Flybe (LON:FLYB) is set it to put itself up for sale, a mere few weeks after issuing a profit warning.
The low-cost airline has been struggling for a host of reasons in recent years.
Namely, higher fuel prices, continued Brexit negotiations and pound sterling volatility had all impacted profits.
Back in October, the Exeter-based air carrier warned on softer trading, expecting pre-tax losses to total £12 million.
At the time of the warning, Chief executive Christine Ourmieres-Widener commented:
“There has been a recent softening in growth in the short-haul market, as well as continued headwinds from higher fuel and currency costs. We are responding to this by reviewing every aspect of our business especially further capacity reduction, cash management and cost savings.”
Christine Ourmieres-Widener took over as Chief Executive at Flybe in January 2017. Prior to her role at Fybe, she also held positions at CityJet and AirFrance.
Flybe is one of many airlines struggling to turn profits amid increasingly turbulent trading conditions.
Last year low-cost airline Monarch fell into administration after a series of difficult quarters.
Most recently, Ryanair (LON:RYA) issued a profit warning, blaming both strike action and rising fuel costs for the weaker performance.
Shares in Flybe are currently trading +4.49% as of 11:08AM (GMT).
