Originally Posted by
mik3bravo
True, but shareholders run the show now, board largely irrelevant under these circumstances.
The public shareholders, incidentally, don't have any share in the actual airline. It remains a limited company ( FlyBE Ltd ).
They do have shares in FlyBE Group Plc which is a holding company ( formerly Walker Aviation Ltd ). So they can tell that board what to do, but not the airline management.
The aircraft which are owned directly are registered to FlyBE Ltd, rather than the Group, which could make a sale of that unit quite straiightforward; own aircraft, no public shareholders.
Likewise FlyBE Aviation Services Ltd is a nice tidy little MRO package, complete with a contract for A400 work.
I forsee the individual units being sold-off and the Group fading away into nothingness.