The operator says the deal will secure its long-term future
The sale of Exeter airline Flybe has been given the go-ahead by the European Union.
Connect Airways, a consortium led by Virgin Atlantic and the Stobart Group, bought the operator in January after it was put up for sale.
Flybe says the deal will secure their long-term future and provide more choice for customers across the UK.
Work is also underway to develop a new brand, which will be announced in due course.
The group will be lead by Mark Anderson, formerly executive vice president of Virgin Atlantic’s customer experience.
Lucien Farrell, Chairman, Connect Airways said: “Today is an important day as Connect Airways takes full control of Flybe, bringing the team together with Stobart Air.
"Under Mark’s leadership, the company has the opportunity to create a world-class offering for customers, combining a highly successful franchise flying business with Europe’s largest regional airline.”