Flybe-9
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Some of the handling agents are down in EXT training for the change over from flybe to virgin connect. Even the training centre is done out in virgin colours. Let's hope that's a sign that things are moving forward with the transition and hope it all pays off for those employed directly and indirectly.
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Originally Posted by SealinkBF
The owners of Flybe have realised that the prospects of returning Flybe to long term profitability without outside help are poor - the investment required far exceeds the value of potential profits over the next 10+ years. I think the likes of Virgin and Stobart bit off far more than they could possibly handle and have now realised this. They also know Boris wants to be seen as helping the regions rather than just London. Thus the message is "Boris, give us some cash, or we shut down Flybe, along with airports like Exeter, Southampton and maybe also Belfast City"
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It's a typical Branson involvement. I've lost count of the amount of times the "hero" gets mentioned in saving companies only to disappear in a cloud of smoke when the going gets tough. He appears to be great at making money for himself but his companies don't seem to fare so well.
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Originally Posted by TartinTon
It's a typical Branson involvement. I've lost count of the amount of times the "hero" gets mentioned in saving companies only to disappear in a cloud of smoke when the going gets tough. He appears to be great at making money for himself but his companies don't seem to fare so well.
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Originally Posted by Manx
Which examples spring to mind?
OK some were the subject of predatory takeover (America, being one)
Trains - due to the pretty poisonous tie-up with Stagecoach Virgin lost the West Coast line and simply overbid on the East Coast...
Speculation on Radio 4 last night that there will be a announcement tomorrow as part of a larger package of other Government transport infrastructure initiatives e.g. HS2, etc
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Originally Posted by TartinTon
It's a typical Branson involvement. I've lost count of the amount of times the "hero" gets mentioned in saving companies only to disappear in a cloud of smoke when the going gets tough. He appears to be great at making money for himself but his companies don't seem to fare so well.
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I think a bit of balance is required here. Too many people trying to pin FlyBe's present difficulties on Branson personally as if he is some machiavellian monster plotting its downfall.
Branson is a shareholder in a company that has a minority shareholding in a consortium that has recently bought FlyBe. Blame for its problems can be planted on the senior management of FlyBe over the past few years not the bearded one. As pointed out Virgin is more of a brand franchise than an operational business.
Branson is a shareholder in a company that has a minority shareholding in a consortium that has recently bought FlyBe. Blame for its problems can be planted on the senior management of FlyBe over the past few years not the bearded one. As pointed out Virgin is more of a brand franchise than an operational business.
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Branson and his associates/acolytes should have done due diligence on Flybe. Everyone in the trade knew it was a basket case. That was their starter for 10...They appear not to have done so and now want the taxpayer to bail them out. Branson is entitled to his share of the blame.
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Actually Flybe was prifitable in 2007 8 9 It was Jim Frenches crazy plan to buy masses of Embraers that started thr problems
Saad Hammad did manage to get costs control, did the deal with Embraer and Republic to ditch outstanding orders for Embraers in exchange for Republic Q400s
and under his control, load factors and yield imcreased significantley. But the company was still saddled with the crippling lease costs of the existing Embraer fleet
He also got rid of the loss making joint venture with Finnair.
It's all contaied in the Flybereports and accounts and presentations to investors still available on flybeplc.com
Saad Hammad did manage to get costs control, did the deal with Embraer and Republic to ditch outstanding orders for Embraers in exchange for Republic Q400s
and under his control, load factors and yield imcreased significantley. But the company was still saddled with the crippling lease costs of the existing Embraer fleet
He also got rid of the loss making joint venture with Finnair.
It's all contaied in the Flybereports and accounts and presentations to investors still available on flybeplc.com
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Originally Posted by bean
Actually Flybe was prifitable in 2007 8 9 It was Jim Frenches crazy plan to buy masses of Embraers that started thr problems
Saad Hammad did manage to get costs control, did the deal with Embraer and Republic to ditch outstanding orders for Embraers in exchange for Republic Q400s
and under his control, load factors and yield imcreased significantley. But the company was still saddled with the crippling lease costs of the existing Embraer fleet
He also got rid of the loss making joint venture with Finnair.
It's all contaied in the Flybereports and accounts and presentations to investors still available on flybeplc.com
Saad Hammad did manage to get costs control, did the deal with Embraer and Republic to ditch outstanding orders for Embraers in exchange for Republic Q400s
and under his control, load factors and yield imcreased significantley. But the company was still saddled with the crippling lease costs of the existing Embraer fleet
He also got rid of the loss making joint venture with Finnair.
It's all contaied in the Flybereports and accounts and presentations to investors still available on flybeplc.com
Regrettably he embarked on a major expansion with huge orders from Embraer and highly expensive lease costs that effectively hobbled the airline financially.
But that is all history, only time and investment will tell if FlyBe/Connect has a future.
My thoughts are with the staff and some of the more vulnerable airports like EXT and SOU, SOU especially which is so dependent on FlyBe for its viability.
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Branson and his associates/acolytes should have done due diligence on Flybe. Everyone in the trade knew it was a basket case. That was their starter for 10...They appear not to have done so and now want the taxpayer to bail them out. Branson is entitled to his share of the blame.
Do you really think Branson runs Virgin Atlantic?
Why does nobody point accusing fingers at equal shareholders Stobart? Or. if you prefer something maciavellian, Cyrus.
But as others have said, the finger pointing should be aimed at previous senior management.
Just for the record, I'm not into taxpayer bail-outs either.
