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Flybe-9

Old 3rd Mar 2020, 11:23
  #3541 (permalink)  
 
Join Date: Apr 2003
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So on 16/01, Stobart made this statement - how does that work?

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.
https://polaris.brighterir.com/publi.../story/wvkpmqx
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Old 3rd Mar 2020, 11:37
  #3542 (permalink)  
 
Join Date: Feb 2020
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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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Old 3rd Mar 2020, 11:38
  #3543 (permalink)  
 
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It means Stobart Group are not the owners of Stobart air anymore.
They are investors in Virgin Connect as stated
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Old 3rd Mar 2020, 11:40
  #3544 (permalink)  
 
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Fernlee.
Good call
I "ve said before let's wait for facts
'
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Old 3rd Mar 2020, 11:52
  #3545 (permalink)  
 
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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
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Old 3rd Mar 2020, 11:53
  #3546 (permalink)  
 
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Originally Posted by bean View Post
Fernlee.
Good call
I "ve said before let's wait for facts
'
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 .
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Old 3rd Mar 2020, 11:58
  #3547 (permalink)  
 
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Ok so if stobart air has been sold into the consortium, this merges stobart and Flybe as one airline. So if Flybe goes surely stobart closes the door also ?
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Old 3rd Mar 2020, 12:01
  #3548 (permalink)  
 
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No definitely noThey are two separate companys owned by Virgin Connect
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Old 3rd Mar 2020, 12:01
  #3549 (permalink)  
 
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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.

Last edited by onion; 3rd Mar 2020 at 16:22.
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Old 3rd Mar 2020, 12:10
  #3550 (permalink)  
 
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That won"t happen. The money has already gone into Flybe.
Please let us not start speculatong about possible eventualities.
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Old 3rd Mar 2020, 12:27
  #3551 (permalink)  
 
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Originally Posted by fernlee View Post
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 .
This is the thoughts of certain people and not of others!
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Old 3rd Mar 2020, 12:35
  #3552 (permalink)  
 
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Pleaseread the Stobart Group statement linked to above.
Highly informative
And as I said wait until next weeks budget before jumping on the Flybe bashi g bandwagon again
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Old 3rd Mar 2020, 12:48
  #3553 (permalink)  
 
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Originally Posted by bean View Post
Pleaseread the Stobart Group statement linked to above.
Highly informative
And as I said wait until next weeks budget before jumping on the Flybe bashi g bandwagon again

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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Old 3rd Mar 2020, 13:52
  #3554 (permalink)  
 
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Originally Posted by fernlee View Post

My only worry is the likes of easyjet will jump on the bandwagon and claim we need assistance due to the alleged “pandemic”
Why wouldn't they? What's good for the goose......
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Old 3rd Mar 2020, 14:32
  #3555 (permalink)  
 
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Originally Posted by BHD2BFS View Post
Ok so if stobart air has been sold into the consortium, this merges stobart and Flybe as one airline. So if Flybe goes surely stobart closes the door also ?
It's the same situation as is was with bmi and logan.Same owner but two distinct companies....
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Old 3rd Mar 2020, 15:19
  #3556 (permalink)  
 
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Originally Posted by Yeehaw22 View Post
Why wouldn't they? What's good for the goose......


Difference being of course funding for flybe is a matter of survival , not a nice to have ....
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Old 3rd Mar 2020, 16:12
  #3557 (permalink)  
 
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Originally Posted by fernlee View Post
Difference being of course funding for flybe is a matter of survival , not a nice to have ....
it's a free market and who can blame Easyjet for looking after their own interests. Historically they come out a lot stronger after a down turn and recession, usually at the cost of other operators who didn't survive.

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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Old 3rd Mar 2020, 16:17
  #3558 (permalink)  
 
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Originally Posted by fernlee View Post
Difference being of course funding for flybe is a matter of survival , not a nice to have ....
But it has to be a fair playing field. How would you feel if you had a business and one of your rivals was getting help and you weren't?
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Old 3rd Mar 2020, 18:33
  #3559 (permalink)  
 
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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
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Old 4th Mar 2020, 02:01
  #3560 (permalink)  
 
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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
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