THE family of Jack Walker collected a bumper £45million windfall yesterday – just weeks after selling Blackburn Rovers for £23million.

The Walker Trust sold 21per cent of its shares in Flybe as the airline completed a £215million flotation on to the stock market.

The deal netted the trust around £45million as its shareholding in the firm was diluted from almost 70per cent to 49per cent.

It comes less than a month after the Walker family, made up of relatives of Rovers saviour Jack Walker, recouped £23million by selling the Ewood Park club to Indian poultry giant Venky’s.

Yesterday, investors were enthusiastic about the flotation, with shares rising to 320p, from a 295p start price.

Many other public offerings this year, including one by Blackburn technology firm Promethean, have been met with a tepid response from the market.

Tony Hedley, from Blackburn stockbroker Hedley and Co, said: “Flybe has done quite well and I think that is because they pitched it at the right price."

Flybe was founded as Jersey European Airways in 1979 and expanded with the backing of Mr Walker, before rebranding in 2002.

Prior to yesterday’s flotation, the Walker Trust owned almost 70per cent of the company, with 15per cent owned by British Airways, and seven per cent owned by management.

Some of the windfall received by the Walker family and management is now set to be ploughed back into the airline to buy new aircraft and fund future takeovers.

Flybe’s head office is at Exeter airport and it operates services across Europe, including from Manchester and Liverpool airports.

After Jack Walker’s death in 2000, ownership of Blackburn Rovers passed to the Walker Trust.

Last month, the club was sold into foreign hands for the first time its 135-year history.