Now that it is owned by the group who owns it now the only way it will provide public services is if they are paid handsomely to do so. They are asset strippers and will only provide a "service" if it is more profitable than stripping it.
COW should never have forced the previous shareholders to sell. breaking it down for asset value or selling slices of it to other regional operators would have been better for Britain
They are not paying APD, they are not paying landing fees or similar services at Airports, they are putting charges on assets to prevent other Creditors to stand in line to secure them, they are in the process of diverting landing slots at Heathrow to their benefit.
https://www.telegraph.co.uk/business...ing-bowl-debt/
They got a 10m tax deferral which is basically an interest free loan and are lookign for another 100m
The only thing British Politicians should be doing now is directing this company to the FRC/corporate enforcement authorities.
Well for asset strippers they sure didn't pick the right Business, Flybe's liabilities well outweigh any value from their assets (do some research), so no benefit there, more angry talk about shareholders, are you yet another Jordan Belfort "wanna be" that got stung bad on the stocks I assume??
This lot have piled well over 100M into Flybe and are now pilling in another 50... seems a great way to strip assets down that does.
Flybe owns nothing, all the "assets" have been transferred to the consortium so if they wanted to they could have folded the company 2 weeks ago, This current deal is all a fiddle all pre-planned for weeks/months between Connect and Government, Government keeps its pledges from its manifesto and "saves British connectivity" and Flybe/Virgin get a nice 100M loan to top them up while they weather "unforeseen" circumstances, all without the investors having to dig any deeper into their pockets