Cashflow
Agree with Flightrider that cashflow is FlyBe's main problem. This really ought not to be the case after all of the cash they raised in the IPO. But most of that is now gone. At the time of the August trading statement FlyBe said they should still achieve a positive operating cashflow this year. But based on this week's results it now looks as though cashflow will be a negative £15million or so for the full year. They can't sustain that for much longer. And even cutting the cost base would only achieve a breakeven position, which isn't really a comfortable position to be in when you have £600m worth of new aircraft on order. Something has to give, but I really don't know what.