Flybe :- Sale Or Float
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Flybe :- Sale Or Float
Now rumoured that FLYBE will be put up for sale in the next few weeks or floated on the stock exchange. Apparently, once they had demonstrated thay could survive as a low cost airline then this would be the plan...now seems the time is right, according to press reports.....
Could we see Virgin getting their own uk domestic airline at last??
Could we see Virgin getting their own uk domestic airline at last??
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VIRGA - try any of the recent financial pages as far as the future of FLYBE or ring their press office/or check the other FLYBE postings re Q400's....as far as Virgin, well Im sure Sir Dick wouldn't miss the chance of grabbing a 'semi-domestic' airline to give BA a run for their money!! (ps I know Flybe isn't totally domestic b4 anybody complains/What about the Virgin-BMI rumour???)
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Yes I've read most of the posts on the future of Flybe and its sale or float. Nothing really solid to say that it is going to happen in the near future. Obviously your main point is to state or enquire as to peoples thoughts on whether Virgin were interested or or not.
The Virgin bit was the area of interest for me. Lets see what everyone thinks. Couldn't be a bad thing, could it?
The Virgin bit was the area of interest for me. Lets see what everyone thinks. Couldn't be a bad thing, could it?
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From The Guardian:
The regional airline FlyBe has set an 18-month timeframe for a sale or flotation, after moving into the black with record half-year profits of £14m.
FlyBe, which is controlled by the family of the late Black burn Rovers tycoon Jack Walker, has acknowledged that its present ownership structure must change.
Its marketing director, Mike Rutter, said he believed trade buyers were unlikely but that a sale to venture capitalists or a public offering were strong possibilities. "An airline is not a classic asset for a family trust," said Mr Rutter. "We are looking forward to exploring, probably in 18 months' time, new ownership options for the business."
FlyBe yesterday published figures showing a shift from a £3.1m loss to a £14m pre-tax profit in the six months to Sep tember, aided by 14 new routes from bases in Exeter, Southampton and Belfast.
Mr Rutter said the airline had already experienced "a lot of private equity interest". He said it was publishing its financial results as part of an effort to shift towards the culture of a public company. But he said FlyBe would have to demonstrate a track record of profitability before actively seeking investors.
"We want to get a track record of profits behind us," said Mr Rutter. "The ownership issue is the reason we're starting to act like a public company."
The regional airline FlyBe has set an 18-month timeframe for a sale or flotation, after moving into the black with record half-year profits of £14m.
FlyBe, which is controlled by the family of the late Black burn Rovers tycoon Jack Walker, has acknowledged that its present ownership structure must change.
Its marketing director, Mike Rutter, said he believed trade buyers were unlikely but that a sale to venture capitalists or a public offering were strong possibilities. "An airline is not a classic asset for a family trust," said Mr Rutter. "We are looking forward to exploring, probably in 18 months' time, new ownership options for the business."
FlyBe yesterday published figures showing a shift from a £3.1m loss to a £14m pre-tax profit in the six months to Sep tember, aided by 14 new routes from bases in Exeter, Southampton and Belfast.
Mr Rutter said the airline had already experienced "a lot of private equity interest". He said it was publishing its financial results as part of an effort to shift towards the culture of a public company. But he said FlyBe would have to demonstrate a track record of profitability before actively seeking investors.
"We want to get a track record of profits behind us," said Mr Rutter. "The ownership issue is the reason we're starting to act like a public company."
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As the guy says 'not the geatest of assets to hold'. I should imagine that any potential investor would be looking for considerably more profit before investing. I would hazard a guess that 'venture capitalists' would be less than keen in such an investment, surely they look for purchase/sales at knock down prices and assets that can be dispossed of with high return. The industry is still in a fragile situation which could be damaged at any time should the fuel price increase. FlyBe I should imagine have very little tangible assets and probably high interest loans. I am happy to be corrected with positive infomation.
