At AGMs, company directors are required to answer open questions from shareholders. These questions can sometimes be very direct and directors may find that they accidentally open their mouth a little more than they would do if they were not placed on the spot. The finer nuances of this dialogue rarely reaches the press and a good
PR can often find a way to claim what was said is not important enough to warrant a formal press release via a stock exchange newswire.
Only shareholders have the absolute right to attend an AGM, but a negligible shareholding of perhaps £2,000 would be sufficient to listen to a director potentially and accidentally blurt out what remains commercially confidential.
Not saying IAG do hold shares in Flybe right now, just that it might be worth holding a tiny shareholding to make use of this facility whenever desired.