Connect Airways has received merger control clearance from the European Commission for its acquisition of Flybe Limited and Stobart Air.

The consortium, led by Richard Branson’s Virgin Atlantic, paid a total of £2.8m for Flybe’s assets and operations earlier this year.

Connect says the go-ahead from the European Commission will secure Flybe’s long-term future and providing more choice for customers across the UK.

Mark Anderson has formally assumed the role of chief executive officer of the new business.

The leadership teams will now focus on plans to grow Flybe’s regional network, as well as expanding Stobart Air’s successful franchise business.

Flybe operates services to Liverpool, Manchester and Birmingham from Ronaldsway

Mr Anderson said: ’On behalf of Connect Airways, I couldn’t be more excited by the opportunity we have to build a strong platform in the UK and to grow our franchise flying operation in Ireland.

’Our whole team is focused on redefining the experience for our customers, as we rediscover the excitement and passion of being Europe’s largest regional airline.’

Lucien Farrell, chairman of 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.’

Shai Weiss, CEO of Virgin Atlantic, said: ’Mark and his team at Connect Airways have an amazing opportunity ahead of them.

’At Virgin Atlantic we recognise the value of great partnerships, and the network and connectivity benefits they offer customers.

’I’m excited to build on the successful partnership Virgin Atlantic has enjoyed with Flybe - and how we can enhance the experience for our mutual customers, once Connect Airways joins the Virgin family and operates under its new brand.’