It's been just days since Virgin Atlantic, Stobart Group and Cyrus came together to put in an official deal for the troubled regional airline, Flybe, which could lead to the birth of the Virgin Atlantic brand flying small regional thin routes in the UK.
Many in the industry see the dilution of the so-called sacred Virgin Atlantic brand in this way would almost certainly prove to be disastrous in the long run for Virgin Atlantic. Although some have a more positive appreciation of the Virgin Atlantic brand on domestic and European travel.
FlyBe's share price tumbled down on news of the offer of £2.2 million from the Virgin lead consortium, called 'Connect Airways' - nothing to do with the Swiss Connect Air that ran between 2004 and 2008 or the Connectair, the feeder airline for British Caledonian in the 80's which went on to become Air Europe Express.
Interesting to note, that one of the few people buying FlyBe shares is one William Andrew Tinkler, the former boss of Stobart, who just happens to be involved in a rather acrimonious legal dispute with the company. Apparently, Tinkler and two other leading business people were looking at taking over Flybe or merging it with Stobart Air many many months ago!
Earlier today, Tuesday 15th January, the bid for FlyBe had to be increased to £2.8 million and a bridging loan mentioned in the original announcement was declined, although Flybe didn't say exactly why. However, a revised Bridge Facility of up to £20 million from Virgin and Stobart, to provide funding to Flybe Limited, of which £10 million will be released today to support the business. In addition, a number of improved agreements with banks have also been reached today to improve liquidity was agreed.