Flybe-9

[Jamie2009]

1. As to the interest from theinvestor, it was said that they were considering providing financial support to a European/UK partner making a bid for the operations of Flybe. Discussions were said to be ongoing to identify potential partners although these were not far enough progressed to be able to provide details. Supporting evidence of e-mail communications showed that a third party advisor who represented this investor had been granted access to the relevant data room, had signed an NDA and had been sent a copy of the relevant information memorandum.
   
2. As to the interest from the non-EU resident individual, there was also supporting e-mail correspondence showing the signing of an NDA and provision of the information memorandum, together with an e-mail dated 3 April 2020 referring to an offer of  for certain items including the AOC, aircraft, “appropriate slots and routes to opaircraft”,flight simulator and 3 spare engines. This was described as a non-binding offer expressing interest in a cash deal for Flybe operations based on  aircraft. It was said that the EY M&A team and Flybe management were supporting this party in developing a financial model.
   
   The above is from the CAA doc. Has anyone got any idea if these two options were progressed or are progressing? Probably delayed while Covid 19 savaged the industry.
   Interesting to see what will happen (if anything)