I don’t know where to post, SEN, FlyBe or Stobart Air!
As much as they’d love to buy Flybe outright they haven’t made an offer because they cannot afford to. They would need to raise cash and suspend or reduce the divided, thus relegating shares into a risk category that would force a few institutional investors to sell.
They’re looking for joint venture partners to bring the cash. Perhaps a Chinese company like HNA Group would love such a business? Or perhaps Easyjet, they’ve been looking longingly at the thinner, shorter routes for years, but their A319 are too big. (A long shot because they wouldn’t need anything Stobart could bring to the table). I guess one thing can be assumed, it won't be AF/KLM, IAG, Lufthansa Group or the unmentionable.
They would be a junior partner in such an arrangement so there’s no need to get carried away with sending MX to CAX and pulling out of LCY. It won’t happen.
An airport, an airline and an aircraft leasing company could all tie together into a wonderful package.