FlyBe - 6
There are 75.2 million shares in issue. Of this 75.2m, Rosedale own 36m shares, while IAG own 10.9m shares.
The shares currently trade around 55.75 pence (up slightly on yesterday)
75.2 x 0.5575 = 41.9 million pounds
This includes shares owned by Rosedale, IAG, Quantum, James French, Richard Griffiths and anyone else.
Thus the value of Flybe as a company is £41.9 million
The value of the shares sold at the time of the flotation is now about £10 million
Repeated profit warnings and losses have not been kind to the share price.
On 13 Dec 2010 the shares traded at 343 pence - so have fallen by almost 84% in the last 2 years.
The shares currently trade around 55.75 pence (up slightly on yesterday)
75.2 x 0.5575 = 41.9 million pounds
This includes shares owned by Rosedale, IAG, Quantum, James French, Richard Griffiths and anyone else.
Thus the value of Flybe as a company is £41.9 million
The value of the shares sold at the time of the flotation is now about £10 million
Repeated profit warnings and losses have not been kind to the share price.
On 13 Dec 2010 the shares traded at 343 pence - so have fallen by almost 84% in the last 2 years.
Last edited by davidjohnson6; 15th Nov 2012 at 18:54.
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You are still not listening, the shares owned by whoever are just a small part of the ownership of the company, the lions share is still owned by the trust. Largest private owned airline in the world and all that. 
Edited for typo only.
Edited for typo only.
Last edited by Leg; 15th Nov 2012 at 21:59.
Leg - I refer you to page 48 of the 2011 / 2012 annual report.
The Walker Trust holds its shares via Rosedale Aviation Holdings Ltd.
The annual report states that the company's share capital is made up of 75.2 million shares - ie these are the sole shares that give ownership of Flybe.
The same page states that Rosedale owns 48.1% of the company or 36,146,250 shares - so yes, by far the largest shareholder. At a current price of 55.75 pence per share, the Walker trust's stake in Flybe is worth 36,146,250 x 0.5575 = £20,151,534.38 or approx £20.2 million pounds.
There is no magic or other class of shares used for ownership as per the annual report. Flybe as a company in its entirety is worth £41.5 million pounds. It may be large in terms of fleet, number of employess or flights operated but it is not a particularly valuable company.
The Walker Trust holds its shares via Rosedale Aviation Holdings Ltd.
The annual report states that the company's share capital is made up of 75.2 million shares - ie these are the sole shares that give ownership of Flybe.
The same page states that Rosedale owns 48.1% of the company or 36,146,250 shares - so yes, by far the largest shareholder. At a current price of 55.75 pence per share, the Walker trust's stake in Flybe is worth 36,146,250 x 0.5575 = £20,151,534.38 or approx £20.2 million pounds.
There is no magic or other class of shares used for ownership as per the annual report. Flybe as a company in its entirety is worth £41.5 million pounds. It may be large in terms of fleet, number of employess or flights operated but it is not a particularly valuable company.
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BA's 2011 Annual Report says (Note 9, p. 33) that the value of the flyBE stake was written down by £16m in 2011 (on the back of a £15m writedown in Apr-Dec 2010).
Note 18 (p. 44) suggests that the stake was valued at £24m as of 31 Dec 2011 (based on share price), which would have put flyBE's total market cap then at about £160m (BA's holding is 14.8%). Hasn't really been a stellar investment for BA (or for other shareholders).
Note 18 (p. 44) suggests that the stake was valued at £24m as of 31 Dec 2011 (based on share price), which would have put flyBE's total market cap then at about £160m (BA's holding is 14.8%). Hasn't really been a stellar investment for BA (or for other shareholders).
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Hasn't really been a stellar investment for BA (or for other shareholders).
Just saying.
Last edited by pottwiddler; 20th Nov 2012 at 20:21.
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Hasn't really been a stellar investment for BA
As much as I am not Flybe fan in any way, they certainly are doing what they can to diversify or as Jim French remarked, spread their risk, by doing ops for Brussels Airlines, the work with Finnair and their newly aquired operation in Scandinavia. It is early days for these ventures and with some luck will delivery for them in due course.
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BA's stake wasn't so much an investment, more payment for BA Connect. When Flybe acquired BA Connect they did not pay anything for it, they in fact received assets and cash and in return BA got a 15% stake in the new enlarged Flybe.
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From an article in the sunday Times today...interesting!
AIRLINES: Pilotless Flybe is easy prey
The Sunday Times (Danny Fortson) writes that Flybe could be a takeover target as it battles losses and the departure of chief executive Jim French. There is a view that it is now so cheap that a larger predator such as Aer Lingus could buy it as its regional network of flights could provide useful feed traffic for a bigger company. Flybe could also attract a rival regional operator that wants to consolidate operations. Either way, without a new chief executive in place, now may be the perfect time to make a move.
AIRLINES: Pilotless Flybe is easy prey
The Sunday Times (Danny Fortson) writes that Flybe could be a takeover target as it battles losses and the departure of chief executive Jim French. There is a view that it is now so cheap that a larger predator such as Aer Lingus could buy it as its regional network of flights could provide useful feed traffic for a bigger company. Flybe could also attract a rival regional operator that wants to consolidate operations. Either way, without a new chief executive in place, now may be the perfect time to make a move.
Yes the shares are at a low, valuing Flybe in its entirety (not just what was listed on the stock market) at about 36 million pounds. Aer Lingus by contrast is worth about 577m euros or 465m pounds. At an initial glance, it might be a cheap way to buy up Flybe in theory.
Nothing however is going to happen unless the Walker Trust agree - the trust's shareholding is just too large for any hostile corporate raider to achieve anything without the trust's blessing.
Nothing however is going to happen unless the Walker Trust agree - the trust's shareholding is just too large for any hostile corporate raider to achieve anything without the trust's blessing.
Last edited by davidjohnson6; 9th Dec 2012 at 18:37.
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BE interline agreements
I'm flying from SYD to EXT (EK SYD-DXB-MAN and then BE to EXT) in January, booked a single ticket with Expedia for the entire journey - anyone know if my bags go through to EXT or will I need to re check in MAN? Loving the fact I don't have to fly through London also 
lazy fairweather PPRuNer
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Devonair
One ticket, through checked, your bags will go through. However, baggage handling such as it is (tossing the baggage, baggage hurling, the baggage put, baggage dodgems, hide the baggage etc, all favourite pastimes at Manchester) may end up in you bags being slightly delayed. Much will depend on your connection whether your bags make it across from T2 in time.
I'm not helping am I?
One ticket, through checked, your bags will go through. However, baggage handling such as it is (tossing the baggage, baggage hurling, the baggage put, baggage dodgems, hide the baggage etc, all favourite pastimes at Manchester) may end up in you bags being slightly delayed. Much will depend on your connection whether your bags make it across from T2 in time.
I'm not helping am I?
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As a regular user of Manchester (up to 50 flights a year) never had a baggage problem there yet (tempts fate I know) so I believe the comments above to be somewahta curious.
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Flybe connecting flights usually have no issues as the new Hub system works very well. it's the interlining from other carriers that can be a problem as they luggage has to come into T3's system and can miss the flights if too late.
Generally, if you can make it from another terminal to T3, then so should the bag.
Generally, if you can make it from another terminal to T3, then so should the bag.
