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.
10-day closure for Mountain Road
The Mountain Road will be closed for 10 days next week.
Survey on cannabis closes this week
There's a last chance to share your views on medical cannabis products.
Hotel boss labels visitor levy "absolutely insane"
A hotel manager has accused the government of being "tone deaf" and "out of touch" over a possible tourist tax.
Ramsey slashes library subscription fees
There's good news for bookworm pensioners in the north of the Island.
Star gets medical clearance to train for TT movie
Hollywood star Channing Tatum says he's been given the go-ahead by doctors to start training for a TT movie.
Pool announces price hikes
The Southern Swimming Pool says it's putting its prices up this week.
Glen Helen restaurant reborn as farm shop!
A new shop offering Island produce says it's 'absolutely delighted' after winning planning permission.
Fuel restrictions lifted as price rises come into force
Filling stations around the Island will be getting deliveries of fuel today.
