Flybe looks for public float to raise £60m

The privately-owned carrier, which claims to be one of only a few European airlines to report profits since the financial crisis, said it will put some of the cash raised towards a fleet of new aircraft.

The airline, which will use the rest of the proceeds to support growth plans, such as codesharing and takeovers, would not comment on the expected value but a recent report suggested it could be in the region of 200m.

The current shareholders, which include the founding Walker family, British Airways, and chief executive Jim French, are not expected to sell their interests in the airline.

The Exeter-based carrier, which employs more than 2,900 people and operates 215 routes across Europe, including flights from Leeds Bradford Airport, posted pre-tax profits of 6.8m in the year to March 31, down from 12.8m the previous year.

Flybe recently signed codesharing agreements – in which a seat can be purchased on one airline but is actually operated by a co-operating airline – with BA and Air France.

The company is looking to continue its expansion into continental Europe and has hinted at further flight-share agreements with airlines such as Swiss firm Flybaboo and a Finnish carrier.