LONDON (AFP) – Europe’s largest regional airline Flybe announced on Tuesday plans to float on the London Stock market to help fuel its expansion.
The British low-cost carrier, which flies across Europe on planes carrying about 100 passengers, said it would seek to raise 60 million pounds (72 million euros, 93 million dollars) from an initial public offering in December.
“We are delighted to bring Flybe to the market,” its chief executive Jim French said in a company statement.
“A listing will assist Flybe in achieving the next stage in its exciting strategy for growth,” he added.
British Airways, which on Monday sealed a multi-billion-euro merger with Spanish rival Iberia, owns 15 percent of Flybe.
BA said that it aims to buy enough of the new shares to maintain its holding.
“We are committed to supporting Flybe in its listing and capital raising, and wish Jim and the team every success as a public company,” said BA chief executive Willie Walsh.