Flybe is being bought by a consortium including Virgin Atlantic and Stobart Group for £2.2million.
The Exeter-based airline put itself up for sale after announcing in October it expected to lose £12million in 2018.
The airline operates several UK routes from the Isle of Man including Liverpool and Manchester.
The BBC reports the consortium, known as 'Connect Airways', will initially lend Flybe £20million to support its ongoing operations.
Crogga still owes the Isle of Man Government money
The company which planned to drill for gas off the Island's northeast coast still owes the government £22,363.
DoI says works at Liverpool ferry terminal will take longer
The Department of Infrastructure says contractors need more time to carry out work at the Liverpool ferry terminal.
Over 50 employment tribunals outstanding at the DoI
The Department of Infrastructure has 53 employment tribunals outstanding, according to Cabinet Office Minister David Ashford.
Free period products bill raises cost concerns for MHKs
Questions were raised in the House of Keys this morning about the proposed free period products bill.
Key road in Ramsey to re-open early this afternoon
A major road in Ramsey which has been shut for works will be reopening early this afternoon.
Want to start training to become a nurse?
Thinking about training to become a nurse?
Appeal launched after fly-tipper filmed dumping rubbish
Arbory and Rushen Commissioners are appealing to the public to help identify a fly-tipper.
Prepare your pets for Bonfire Night, says Manx charity
A local animal charity is sharing advice on how to keep pets safe and calm this fireworks night.
