READ: Major Flybe shareholder looking to stop £2.2mln Virgin-Stobart takeover In a note giving shareholders an overview of the situation, Flybe said the £2.8mln sale to Connect Airways of its trading subsidiaries, announced last week, is expected to complete by the longstop date of 22 February 2019 and stressed that this will not require shareholder approval. The group added that Connect Airways has now provided the first £10mln of the £20mln secured committed credit facility it agreed to provide conditional on the sale, and Flybe continues to receive payments from its credit card acquirers. It stressed that the agreements with its credit card acquirers and banks are important to enable Flybe to continue to trade and are conditional themselves upon the trading subsidiary disposal completing.