Flybe-9
So on 16/01, Stobart made this statement - how does that work?
https://polaris.brighterir.com/publi.../story/wvkpmqx
Connect Airways is made up of a consortium of shareholders encompassing Cyrus Capital (40%), Virgin Atlantic (30%) and Stobart Group (30%) that acquired the assets of Flybe. The shareholder consortium has to date provided £110m of funds to Connect Airways, and Stobart Group has invested £45m through a combination of cash and the sale of Stobart Air, Stobart Group's regional airline, and its aircraft leasing business, Propius.
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A lot of rumours regarding flybe seem to be flying around EXT today i would neither listen to them or pass them on , Totally unfounded nonsense , idiots putting two and two together and getting seven .
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Actually, the Stobart group statement provides a lot of onformation as to what has been going on
Yhey are required to disclose this info by law as they are a plc.
So we now know how much money has been put into Flybe and that Stobart Group have put in an additional £9 million sonce January
Yhey are required to disclose this info by law as they are a plc.
So we now know how much money has been put into Flybe and that Stobart Group have put in an additional £9 million sonce January
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I really cannot understand why the owners letting this get out of hand every day makes it worse , why don’t they simply bang the cash in and let things stabilise , at this rate they won’t have much to save.
Just hoping HMG act soon .
Just hoping HMG act soon .
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Stobart and the other investors may have fixed and floating charges which protect their investments.
ie Connect goes down Stobart get their investment + Stobart air back.
ie Connect goes down Stobart get their investment + Stobart air back.
Last edited by onion; 3rd Mar 2020 at 15:22.
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This is the thoughts of certain people and not of others!
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Hopefully next week we will hear the government has stepped in to assist short term which is all we need .
My only worry is the likes of easyjet will jump on the bandwagon and claim we need assistance due to the alleged “pandemic”
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Flybe does need immediate and urgent funding, but as much as I wish it to survive and my friends keeping their jobs, I just don't believe that funding should come from HMG. The connect share holders need the just put their bloody hands in their pockets and sort this mess out once and for all, and flipping quickly.
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Both companys will operate as Virgin Connect.
This has been discussed time and time again
Flybe and Stobart Airways are separate operating arms of Connect Airways
Stobart Airways are profitable and is not thr division seeking a cash injection
If Flybe goes Stobart Airways survives and so does the holding company. Connect Airways.
It couldn'y be more simple
This has been discussed time and time again
Flybe and Stobart Airways are separate operating arms of Connect Airways
Stobart Airways are profitable and is not thr division seeking a cash injection
If Flybe goes Stobart Airways survives and so does the holding company. Connect Airways.
It couldn'y be more simple
Apart from the question of how to help Flybe without IAG and Easyjet complaining, the Govt has a much bigger problem to deal with right now
Assuming doctors / scientists are correct - the economy is likely to take a tumble later this year, which means less tax revenue for the Chancellor. There will undoubtedly be significant extra costs for HMG (eg around healthcare), meaning even less wiggle room on Budget Day.
There is a possibility maintaining public order will require paying police/army lots of extra cash. The NHS will seemingly be hiring lots of recently retired staff, all of whom will expect wages in return for work. Saving Flybe is insignificant in comparison.
If, as I expect, Flybe has seen a decline in forward bookings over the last 2 weeks, the owners will be aware how costly it can be to run an airline that flies fresh air around the UK
Maybe the Chancellor will find a magical money tree, but I would not be surprised if Flybe has chosen a bad time to be hoping for cash and ends up as collateral damage of the coronavirus episode
Assuming doctors / scientists are correct - the economy is likely to take a tumble later this year, which means less tax revenue for the Chancellor. There will undoubtedly be significant extra costs for HMG (eg around healthcare), meaning even less wiggle room on Budget Day.
There is a possibility maintaining public order will require paying police/army lots of extra cash. The NHS will seemingly be hiring lots of recently retired staff, all of whom will expect wages in return for work. Saving Flybe is insignificant in comparison.
If, as I expect, Flybe has seen a decline in forward bookings over the last 2 weeks, the owners will be aware how costly it can be to run an airline that flies fresh air around the UK
Maybe the Chancellor will find a magical money tree, but I would not be surprised if Flybe has chosen a bad time to be hoping for cash and ends up as collateral damage of the coronavirus episode
