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Flybe sees shares take a nosedive

Shares in Europe's biggest regional airline, Flybe, plunged as much as 23pc after it reported a £15m (€19m) loss in the first half of its financial year and revenues fell.

Flybe, which remains in the throes of a turnaround plan designed to bring it back from the brink of collapse, recently launched a new service between Dublin and London City Airport.

Its loss in the period compared to a profit of £13.6m (€17.2m) in the first half of its last financial year. Revenue, excluding that from a joint venture in Finland, declined 11pc to £425m (€539.5m).

Flybe said it has agreed to sell its 60pc stake in loss-making Flybe Finland to Finnair, the other shareholder, for €1.