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 Flybe on its admission to the main list of the London Stock Exchange.
Flybe, Europe’s largest regional airline, set an initial float price of 295p per share valuing the company at £215m.
The airline, the largest in terms of traffic movement at both Manchester and Birmingham airports, floated 20.3 million shares, representing 28% of the issued share capital.
"Rickitt Mitchell have formed part of our advisory team for the last 11 years and acted as lead advisor in the BA Connect transaction, where they added real value to the process. They are comfortable working alongside the likes of Merrill Lynch and DrKW and aid our relationship with the bigger investment banks through their wide experience and strict independence. Paul Mitchell’s experience as a chairman of a main list PLC also adds a dimension to his role as corporate finance advisor to Flybe."Jim French | CEO | Flybe