Originally Posted by
asdf1234
Stobart narrowly avoided administration itself earlier this month, and a huge shareholder bailout was needed (in the form of a rights issue) to keep it afloat. Cyrus are a Stobart shareholder (3rd largest pre the rights issue).
It is noteworthy that at the time of the bailout the Stobart board listed Cyrus as not participating in the rights issue.
I don't think Stobart have the funds (or appetite) to have another tilt at FlyBe. I also think Cyrus have had their fill with UK regional airlines given their reported refusal to participate in the Stobart (and by extension Stobart Air) bailout.
Stobart did NOT receive a bailout from shareholders they simply issued shares and invited current shareholders to purchase said shares and also set up a new credit facility. They were not close to entering administration at all.