Originally Posted by
southside bobby
Sale of certain assets commencing?...
Flybe announce sale & leaseback of the New Walker Hangar at Exeter for £5m.
Possible propping up as the buyer is Exeter Airport.
It would be interesting to know if there was any money owed to Exeter Airport prior to the transaction.
Just having a look at their accounts.
In one sense they're actually so much worse than anyone posting here has really picked up on, as they adjust their accounts for the year before as well. While the accounts show a loss of £12m, they also show what a lay person would best understand to be a loss of closer to £40m.
In another sense they don't look that awful, they are bad but they certainly don't look like Monarch's accounts or the accounts of a company at crisis point. I would say the biggest risk they face isn't directly commercial, but more availability of finance.
If they weren't an airline and therefore subject to intense reputational risk they might be tempted to do a prepack to ditch lease agreements they didn't like. But of course this would harm their reputation and prevent them getting lease agreements they did want.
We can't really know who potential suitors might be without knowing what the strong parts of their network are. If Belfast or London City; IAG? If the SW of England, the European routes, or the Scottish Routes... Sector? If it is a mish-mash of random stuff across the network; either Eastern or nobody? And potential matches for the SAS flying... I guess that's CityJet or Nordica?