It's been sold to a consortium led by Sir Richard Branson's Virgin Atlantic.
The takeover came after the management turned down a rival rescue proposal.
It was offering more money but the company insisted it wasn't viable.
Exeter based airline Flybe takeover complete
More from Local News
-
Over £300,000 to fund North Devon community projects
It will be spent on three schemes
-
Where Torbay’s community fund money went
£90,000 is up for grabs across the bay
-
Three arrested over Plymouth stabbing
Man taken to hospital
-
Paddleboarders saved from East Devon waters
Pair get stuck off coast
-
Harbourside revamp divides Torquay
Plans ignite fiery debate
-
Meet Credtion's new bishop
Third woman to hold the role
