flybe. (2002) (Exeter) majority shareholder Rosedale Aviation has offloaded its entire 48.1% stake in the airline to undisclosed institutional investors. Chief executive Saad Hammad has indicated that "some existing investors had increased their holding in the airline as part of the transaction." According to Reuters, Rosedale, whose stake was valued at GBP38million (USD60.52million), once held as much as 69% of Flybe before reducing it to below 50% when the carrier went public in December 2010. The airline counts the International Airlines Group (IAG) as its second largest shareholder with a 15% shareholding followed by numerous other high profile investors who include billionaire investor George Soros and previous chairman Jim French.