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
-
Chiefs plug coaching gap
England under 20s' attack specialist joins Sandy Park
-
Vehicle hits railway bridge
But services restored quickly
-
How empty churches could answer Torbay's prayers for new homes
'It's a win-win situation'
-
Anger as councillor in racism row is chosen as Torbay's deputy mayor
'The deputy mayor should be a Conservative but it shouldn’t be this one'
-
Devon trailblazer footballer gets blue plaque
John Leslie rejected for England because he was black
-
Devoncast - A pool protest, good news for tourism and a Dartmoor headache
Plus - a new mental health initiative and an MP goes into battle over parking
