Flybe, the UK-based low-cost airline, is planning a sale of the group, according to a company spokesperson. The spokesperson stated that the majority shareholder, the Walker Trust (which owns 80% of Flybe), 'wants out of the airline industry', and sees an initial public offering (IPO) as the most favourable mechanism for relinquishing their majority stake. However, the spokesperson stated that Flybe's board of directors were still considering all their options, and that a sale to a trade or financial player could not be ruled out. Flybe are currently looking to appoint a new Chief Financial Officer, who is expected to take a 'very active role in the exit' according to the spokesperson. He also mentioned that investment bank Dresdner Kleinwort Wasserstein has been hired to assist with the disposal. According to analysts the potential flotation value for Flybe is ranging between £150m and £200m.