Flybe says in talks with Virgin Atlantic for possible sale

(Reuters) - British regional airline Flybe Group Plc <FLYB.L> said on Friday Virgin Atlantic Airways Ltd was one of the parties it was in discussions with, as part of a formal sale process announced earlier this month.

Flybe said on Nov. 13 it was in talks with potential buyers, as it grapples with higher fuel costs, lower demand and a weak British pound.

Shares of Flybe rose 48.5 percent to 14.4 pence on Friday after Sky News reported that Virgin Atlantic, founded by Richard Branson, was in talks about a takeover bid for Flybe.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shinjini Ganguli)