LONDON—Pilot representatives are seeking urgent reassurances on job security from the consortium involving Virgin Atlantic and Stobart Group that is acquiring UK regional operator Flybe. Virgin Atlantic and Stobart, along with New York-based investment fund Cyrus Capital, announced Jan. 11 that they formed a new company called Connect Airways to acquire all of Flybe’s shares for £2.2 million ($2.81 million)—a fraction of what they were valued at when the market ...

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