Exeter-based Flybe's second largest shareholder after Rosedale was British Airways owner International Consolidated Airlines Group, while former chairman Jim French also owns a stake. Mr Hammad, a former chief commercial officer at rival easyJet, said: "This transaction marks another milestone in Flybe's history. "I would like to thank Rosedale Aviation for their support over many years. I would also like to take this opportunity to welcome aboard our new shareholders and thank existing investors who have increased their holding as part of this transaction." The stake sale will significantly widen the shareholder base for Flybe.