Flybe nosedives as investor exits

Flybe shares crashed 11 per cent yesterday after the embattled airline revealed that Rosedale Aviation, its biggest investor, had sold its 48.1 per cent stake. Rosedale, which represents the interests of the late Blackburn businessman Jack Walker, lost its board representative over the summer when Mark Chown left as part of a management exodus. Several funds snapped up the shares including Aberforth Partners, Polar Capital and Schroders.