Flybe's sale is right for staff and passengers | Nils Pratley

Shareholders in the stricken airline may feel aggrieved at the hurried sale but it was long overdue

What a day for democratic debate! Well, not at Flybe. Shareholders, still reeling from the board's decision last Friday to accept a takeover offer at 1p a share, or just 2.2m, have now learned they won't get a meaningful vote on the deal. The directors have instead agreed to flog the regional airline's assets almost immediately at the same price to the same bidder, a consortium comprising Virgin Atlantic, Stobart and investment firm Cyrus.

Is that even legal at a public company? It seems it is, or rather it will be on Thursday, which is when Flybe switches its stock market listing from "premium" to "standard" status. The latter does not require shareholders to approve major asset sales.