LONDON—UK regional carrier Flybe has agreed to a board meeting demanded by several shareholders over the airline’s proposed takeover by Stobart Group-backed consortium Connect Airways, and has separately received an approach from former Stobart CEO Andrew Tinkler to replace the Connect funding and halt the sale. Three story threads are now emerging in Flybe’s takeover by Connect Airways, an acquisition vehicle owned by Virgin Atlantic, Stobart Group and Cyrus ...

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