Flybe-9
Now that Stobart (as a public company) has confirmed that the consortium has injected £110m
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As I mentioned earlier:
Now that Stobart (as a public company) has confirmed that the consortium has injected £110m, the total 'burned through' in the year looks like £216m. Astonishing.
Even allowing for the EU waiting six months to agree the deal (why were they even involved?), that's an awful lot of money.
Now that Stobart (as a public company) has confirmed that the consortium has injected £110m, the total 'burned through' in the year looks like £216m. Astonishing.
Even allowing for the EU waiting six months to agree the deal (why were they even involved?), that's an awful lot of money.
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As I mentioned earlier:
Now that Stobart (as a public company) has confirmed that the consortium has injected £110m, the total 'burned through' in the year looks like £216m. Astonishing.
Even allowing for the EU waiting six months to agree the deal (why were they even involved?), that's an awful lot of money.
Now that Stobart (as a public company) has confirmed that the consortium has injected £110m, the total 'burned through' in the year looks like £216m. Astonishing.
Even allowing for the EU waiting six months to agree the deal (why were they even involved?), that's an awful lot of money.
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Gatwick is much better for point to point traffic as charges are way lower. Very easy to get slots it would appear. So is Virgin getting slots at LHR from Flybe as part of this process? What becomes of the slots they currently have at LHR?
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If Flybe try to pass the bmi remedy slots to Delta or Virgin for long-haul use, IAG would go straight to court to seek an injunction.
Everyone thought Virgin Little Red was simply a clever wheeze to get more long-haul slots and it didn't turn out that way. The EC ruling on the slots was very clear they could only be used for short-haul flights.
Everyone thought Virgin Little Red was simply a clever wheeze to get more long-haul slots and it didn't turn out that way. The EC ruling on the slots was very clear they could only be used for short-haul flights.
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If Flybe try to pass the bmi remedy slots to Delta or Virgin for long-haul use, IAG would go straight to court to seek an injunction.
Everyone thought Virgin Little Red was simply a clever wheeze to get more long-haul slots and it didn't turn out that way. The EC ruling on the slots was very clear they could only be used for short-haul flights.
Everyone thought Virgin Little Red was simply a clever wheeze to get more long-haul slots and it didn't turn out that way. The EC ruling on the slots was very clear they could only be used for short-haul flights.
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Am I correct in believing that the remedy slots used for Newquay were from BA, and flybe would have to use them for a number of seasons before they are grandfathered like the others. Therefore I’m assuming the slots they used for Newquay are going to be handed back...?
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Am I correct in believing that the remedy slots used for Newquay were from BA, and flybe would have to use them for a number of seasons before they are grandfathered like the others. Therefore I’m assuming the slots they used for Newquay are going to be handed back...?
Am I correct in believing that the remedy slots used for Newquay were from BA, and flybe would have to use them for a number of seasons before they are grandfathered like the others. Therefore I’m assuming the slots they used for Newquay are going to be handed back...?
I checked the terms of the LHR / BMI remedy slots at address : ec.europa.eu/competition/mergers/cases/decisions/m6447_20120330_20212_2452290_EN.pdf
[1.3 Grandfathering of Slots 1.3.1As a general rule, the Slots obtained by the Prospective Entrant from IAG as a result of the Slot Release Procedure shall be used only to provide a Competitive Air Service on the Relevant City Pair for which the Prospective Entrant has requested them from IAG through the Slot Release Procedure. These Slots cannot be used on another city pair unless the Prospective Entrant has operated the Relevant City Pair for which these Slots have been transferred for a number of full consecutive IATA Seasons (“Utilisation Period”). 1.3.2The Prospective Entrant will be deemed to have grandfathering rights for the Slots once appropriate use of the Slots has been made on the Relevant City Pair for the Utilisation Period. In this regard, once the Utilisation Period has elapsed, the Prospective Entrant will be entitled to use the Slots obtained on the basis of these Commitments exclusively to operate services on any European Short-haul City Pair or the Identified Long-haul City Pairs (“Grandfathering”).
On order to obtain grandfathering rights on their LHR slots Flybe will have to continue operating these routes for 3 IATA seasons.
They started operating the routes in March 2017 flybe website location /media/news/1612/20 so they will obtain these rights in 2 and a half months.
If Flybe make it that far they will own an additional saleable asset. If they can sell these slots then they can settle any APD liability. It seems notable to me that the period of the deferment is 3 months rolling.
The press states that Stobart and Cyrus don't want to put in any more money. It wouldn't surprise me if the £100m + investment is coming from VS to purchase those slots outright.
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Quote:
I checked the terms of the LHR / BMI remedy slots at address : ec.europa.eu/competition/mergers/cases/decisions/m6447_20120330_20212_2452290_EN.pdf
[1.3 Grandfathering of Slots 1.3.1As a general rule, the Slots obtained by the Prospective Entrant from IAG as a result of the Slot Release Procedure shall be used only to provide a Competitive Air Service on the Relevant City Pair for which the Prospective Entrant has requested them from IAG through the Slot Release Procedure. These Slots cannot be used on another city pair unless the Prospective Entrant has operated the Relevant City Pair for which these Slots have been transferred for a number of full consecutive IATA Seasons (“Utilisation Period”). 1.3.2The Prospective Entrant will be deemed to have grandfathering rights for the Slots once appropriate use of the Slots has been made on the Relevant City Pair for the Utilisation Period. In this regard, once the Utilisation Period has elapsed, the Prospective Entrant will be entitled to use the Slots obtained on the basis of these Commitments exclusively to operate services on any European Short-haul City Pair or the Identified Long-haul City Pairs (“Grandfathering”).
On order to obtain grandfathering rights on their LHR slots Flybe will have to continue operating these routes for 3 IATA seasons.
They started operating the routes in March 2017 flybe website location /media/news/1612/20 so they will obtain these rights in 2 and a half months.
If Flybe make it that far they will own an additional saleable asset. If they can sell these slots then they can settle any APD liability. It seems notable to me that the period of the deferment is 3 months rolling.
The press states that Stobart and Cyrus don't want to put in any more money. It wouldn't surprise me if the £100m + investment is coming from VS to purchase those slots outright.
I checked the terms of the LHR / BMI remedy slots at address : ec.europa.eu/competition/mergers/cases/decisions/m6447_20120330_20212_2452290_EN.pdf
[1.3 Grandfathering of Slots 1.3.1As a general rule, the Slots obtained by the Prospective Entrant from IAG as a result of the Slot Release Procedure shall be used only to provide a Competitive Air Service on the Relevant City Pair for which the Prospective Entrant has requested them from IAG through the Slot Release Procedure. These Slots cannot be used on another city pair unless the Prospective Entrant has operated the Relevant City Pair for which these Slots have been transferred for a number of full consecutive IATA Seasons (“Utilisation Period”). 1.3.2The Prospective Entrant will be deemed to have grandfathering rights for the Slots once appropriate use of the Slots has been made on the Relevant City Pair for the Utilisation Period. In this regard, once the Utilisation Period has elapsed, the Prospective Entrant will be entitled to use the Slots obtained on the basis of these Commitments exclusively to operate services on any European Short-haul City Pair or the Identified Long-haul City Pairs (“Grandfathering”).
On order to obtain grandfathering rights on their LHR slots Flybe will have to continue operating these routes for 3 IATA seasons.
They started operating the routes in March 2017 flybe website location /media/news/1612/20 so they will obtain these rights in 2 and a half months.
If Flybe make it that far they will own an additional saleable asset. If they can sell these slots then they can settle any APD liability. It seems notable to me that the period of the deferment is 3 months rolling.
The press states that Stobart and Cyrus don't want to put in any more money. It wouldn't surprise me if the £100m + investment is coming from VS to purchase those slots outright.
Fatmed - Those refer to the original remedy slots which are used exclusively for Edinburgh and Aberdeen which started in 2017 - the Newquay service was opened in March 2019, therefore my understanding is those slots (suggested to be 3 BA slots) will be handed back.
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How has flyBe managed to get slots back at LGW for a multiple daily service? IAG paid £4.5 million for the 'NQY' slots last year. At the time I think the route operated 3x daily on an E-Jet. There is also the odd situation that flyBe are operating a seasonal daily service to SEN from NQY, against their own LHR/LGW PSO flights. MAN seems to support multiple daily flights on commercial terms. I appreciate that Cornwall is several hours closer to London by rail and car than MAN is, but does that really explain the need for the PSO? Is there really anything in the PSO to stop BA flying LHR-NQY, say twice daily with an A319 against flyBe to LGW?
All EU laws are being transferred to the UK statue books, so the status quo in relation to the BA purchase of BMI will remain, unless someone wants to revisit it.
All EU laws are being transferred to the UK statue books, so the status quo in relation to the BA purchase of BMI will remain, unless someone wants to revisit it.
Slot allocation has nothing to do with the EU - its a historical stitch -up with limited legal validity agreed between the airlines
The referenced case was about competition policy - and that won't go away
The referenced case was about competition policy - and that won't go away