Originally Posted by
Cazza_fly
This basically looks like blackmail.
After the recent offering from Mr Tinkler being rejected and now this. We can all clearly see that the Virgin deal has been underhanded and dirty from the start. No doubt with plenty of backhanders. No wonder people still can't see Virgin being the best fit for the airline - even if its being touted as "the only option".
How does it qualify as blackmail? I am not even sure it remotely qualifies as extortion. It is a statement of fact. As the current forecast of the future stands, once the sale of the airline and the website are completed Flybe PLC is an unsustainable concern, it has no revenue or assets. Therefore, it either has to sell itself, invest the proceeds from the sale into a new business, or wind itself up and return any remaining money to the shareholders. The deal with Connect Airways, which is not jut Virgin Atlantic, but also Stobart and Cyrus capital, may or may not be underhanded. However, unless you have access to evidence which is not in the public domain you cannot demonstrate it as such. For it to have been underhanded in a true sense it would have to extend back to before October, when the shareholders were asked to approve, and did approve, moving from a premium to standard listing. If you have the evidence please present it.
I have no horse in the Flybe race. I have nothing to gain from any permutation of futures for Flybe. However, it is, understandably, a topic that a lot of people are vested in for one reason or another and a lot of statements are flying around without any substantiation, some of which border on defamatory. It is entirely possible that no amount of 'excellent' management would save or have saved Flybe. It is also entirely possible that the current board is purposefully ignoring offers that are of better interest to Flybe shareholders than the Connect offer. However, neither of these or any other case has been demonstrated and substantiated.