The Walker family trust controlling FlyBE, the UK regional low fares airline, has set up a steering group to prepare the airline for a stock market flotation or trade sale within the next two years.

FlyBE, the trading name of Walker Aviation, is owned by Jersey-incorporated Rosedale (JW) Investments, one of the family trusts established to oversee the estate of the late Jack Walker, the former steel stockholding millionaire and owner of Blackburn Rovers.