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Flybe Group plc Acquisition of BA Connect

March 2007 £129m

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growth strategy

Project Paddington

March 2007 £129m

About the client

Flybe, an Exeter-based airline rebranded from British European in 2002, gained a new lease of life by embracing a low-cost business model. Operating from smaller airports such as London City, Southampton and Norwich to nearly 80 destinations, Flybe ranks as Europe’s largest regional airline.

About the deal

Rickitt Mitchell advised the management of Flybe on the acquisition of BA Connect from British Airways PLC. BA Connect was heavily loss making and could not be best restructured within BA’s ownership, hence the decision to sell the business to Flybe. Rickitt Mitchell supported Flybe’s management in the negotiation of a cash payment of £129m to cover the inherent liabilities and restructuring needed to integrate BA Connect into Flybe.

"Rickitt Mitchell have formed part of our advisory team from the last 11 years and acted as lead adviser in the BA Connect transaction, where they added real value to the process"

Jim French | CEO | Flybe