UNDER-pressure airline Flybe

is in negotiations about a possible sale of the group weeks after warning over profits.

The carrier – which has flights from Aberdeen, Edinburgh, Glasgow, Inverness, Stornoway and Wick – said it is also looking

at further cutting costs and

flight capacity as it battles challenging conditions in the

airline industry.

The group is in talks with a number of “strategic operators” about a potential sale and has hired Evercore as adviser to help with the review and sale process.

Flybe warned over profits several weeks ago following falling demand and a £29 million hit from rising fuel costs and the weak pound.

The alert sent shares tumbling

by more than a third on the day

and nearly 75% has been wiped off its stock market value since December.

But shares in Flybe lifted 6% after news of its sale plans.

Stobart Group walked away from a bid for Flybe in March after the two firms failed to agree terms.