Flybe Group has confirmed that its largest shareholder had urged the airline to remove Chairman Simon Laffin and investigate its cut-price sale to a consortium.
Hosking Partners, which owns 18.72% of Flybe according to Refinitv Eikon data, has asked the company to appoint industry veteran Eric Kohn as director, the company said.
Earlier this month, Flybe agreed to be bought by a group comprising Richard Branson's Virgin Atlantic, Stobart Group and Cyrus Capital for $2.8m.
This was a 94% discount to the stock's closing price a day before the sale announcement.
The company, which operates routes from about 25 British airports, including domestic connections to London's Heathrow, has struggled with higher fuel costs, currency fluctuations and uncertainties presented by Brexit.
Flybe said today that Hosking had asked for a general meeting to consider its resolutions.
The company reaffirmed its confidence in Laffin, and said it believes that "any independent scrutiny of its conduct will support the board's decision-making."
Laffin, who previously worked in senior positions at Safeway, Aegis Group, Mitchells & Butlers and Northern Rock, has chaired Flybe for more than five years.
