Airlines, Airports & Routes Topics about airports, routes and airline business.

Flybe-9

Old 4th Mar 2020, 12:15
  #3581 (permalink)  
 
Join Date: Mar 2012
Location: England, UK
Posts: 118
FT now reporting that HMG have back tracked on the loan as flybe have been unable to meet a set criteria.

Flybe management are now hoping and relying on APD being restructured to save the organisation.

Sorry can't download the link.
Set 1013 is offline  
Old 4th Mar 2020, 12:37
  #3582 (permalink)  
 
Join Date: Apr 2016
Location: Essex
Posts: 973
In the Express

https://www.express.co.uk/travel/art...ed-news-latest
DC3 Dave is offline  
Old 4th Mar 2020, 12:41
  #3583 (permalink)  
 
Join Date: Aug 2009
Location: London
Posts: 309
ITV reporting:

BA318 is offline  
Old 4th Mar 2020, 12:48
  #3584 (permalink)  
 
Join Date: Aug 2009
Location: London
Posts: 309
Further from the FT. Apparently the Government is unlikely to approve the loan partly because Flybe has already taken out loans against all of its assets.
"The situation was complicated after Flybe mortgaged the majority of its remaining assets — including buildings, equipment and intellectual property — to its owners last year. This made it more difficult for the UK government to provide a loan on commercial terms." https://www.ft.com/content/6c37bb36-...b-339c2307bcd4
BA318 is offline  
Old 4th Mar 2020, 12:49
  #3585 (permalink)  
 
Join Date: Feb 2020
Location: Cider country
Posts: 1
All rumour at moment people need to get a grip
fernlee is offline  
Old 4th Mar 2020, 12:53
  #3586 (permalink)  
 
Join Date: Jun 2007
Location: UK
Posts: 321
fernlee, take your head out the sand and look around.
Reversethrustset is offline  
Old 4th Mar 2020, 12:56
  #3587 (permalink)  
 
Join Date: Feb 2020
Location: Cider country
Posts: 1
OK not ideal , BUT we have wealthy owners , i guess they will now act .
fernlee is offline  
Old 4th Mar 2020, 12:58
  #3588 (permalink)  
 
Join Date: Jun 2007
Location: UK
Posts: 321
That seems to be the only saviour. I hope for all of you it happens.
Reversethrustset is offline  
Old 4th Mar 2020, 13:00
  #3589 (permalink)  
 
Join Date: Aug 2009
Location: London
Posts: 309
Originally Posted by fernlee View Post
OK not ideal , BUT we have wealthy owners , i guess they will now act .
I wouldn't bank on it. Air Italy had wealthy owners, as did Air Berlin. Sometimes you have to realise that throwing good money after bad isn't going to change things. How long has Flybe been in trouble? Years and still nothing changes. Even after last year's scare they still kept running most of the routes and continuing as before.
BA318 is offline  
Old 4th Mar 2020, 13:01
  #3590 (permalink)  
 
Join Date: Feb 2018
Location: UK
Posts: 124
Originally Posted by fernlee View Post
All rumour at moment people need to get a grip
Fernlee, are you the old ĎBrigantreeí? It seems that he was the one always spouting about BE being ďVitalĒ to the UK economy.

Open your our eyes and see whatís happening with the business.
Atlantic Explorer is offline  
Old 4th Mar 2020, 13:04
  #3591 (permalink)  
 
Join Date: Feb 2020
Location: Cider country
Posts: 1
A cut in APD in the budget will help . Flybe are not going anywhere iím sure of that .
fernlee is offline  
Old 4th Mar 2020, 13:05
  #3592 (permalink)  
 
Join Date: Jan 2006
Location: UK
Posts: 61
As much as I think that connectivity is (very) important to the regions, I can't see how state intervention is appropriate in this instance. Going forward the business will have to resize and focus- so it's not going to be offering what it is today. Should routes operating in to and out of LHR & LCY be subsidised where there is competition? Those must be some of the most profitable routes. Services deemed "essential" may well be served more efficiently using different operators, so why should Flybe get the subsidy?
Connect Airways dabble with Flybe was just an easy opportunity for some rich men and woman to become even richer. The shareholders in Connect Airways Limited seemed to have loaned money to the company (with interest), while covering themselves with charges over the Assets.
And my guess would be that Stobart Air will be unaffected by any demise of Flybe as was previously suggested, in a similar way that Condor still operates.
Fletch is offline  
Old 4th Mar 2020, 13:10
  #3593 (permalink)  
 
Join Date: Aug 2009
Location: London
Posts: 309
Originally Posted by fernlee View Post
A cut in APD in the budget will help . Flybe are not going anywhere iím sure of that .
Do you realistically believe that a Government which is not going ahead with airport expansion at LHR on environmental grounds and is rumored to be planning to raise car fuel duty on environmental grounds, is going to make flying domestically cheaper?

And if Flybe's owners have the money to put in then they absolutely should rather than the already hard-pressed taxpayers.
BA318 is offline  
Old 4th Mar 2020, 13:12
  #3594 (permalink)  
 
Join Date: Aug 2009
Location: London
Posts: 309
Originally Posted by Fletch View Post
As much as I think that connectivity is (very) important to the regions, I can't see how state intervention is appropriate in this instance. Going forward the business will have to resize and focus- so it's not going to be offering what it is today. Should routes operating in to and out of LHR & LCY be subsidised where there is competition? Those must be some of the most profitable routes. Services deemed "essential" may well be served more efficiently using different operators, so why should Flybe get the subsidy?
Connect Airways dabble with Flybe was just an easy opportunity for some rich men and woman to become even richer. The shareholders in Connect Airways Limited seemed to have loaned money to the company (with interest), while covering themselves with charges over the Assets.
And my guess would be that Stobart Air will be unaffected by any demise of Flybe as was previously suggested, in a similar way that Condor still operates.
On the first point, I absolutely agree. If the routes are to be subsidised then it should be a fair tender - allow Loganair and others to bid aswell. No way should Flybe just get a bung to operate their current routes.

On the second, Willie Walsh said that Aer Lingus made sure the Stobart Air side of the deal had adequate ring fencing so that should anything happen Aer Lingus Regional could keep flying.
BA318 is offline  
Old 4th Mar 2020, 13:22
  #3595 (permalink)  
 
Join Date: Jul 2006
Location: Ballymena
Posts: 1,251
Fernlee, why has these wealthy owners not put in the cash needed? Why, if the company is in such dire straights, are they doing nothing re cash themselves?They have had plenty of time.
True Blue is offline  
Old 4th Mar 2020, 13:25
  #3596 (permalink)  
 
Join Date: Feb 2020
Location: Cider country
Posts: 1
Originally Posted by True Blue View Post
Fernlee, why has these wealthy owners not put in the cash needed? Why, if the company is in such dire straights, are they doing nothing re cash themselves?They have had plenty of time.
I agree , they will have to act now or there is a chance the company could go under .








fernlee is offline  
Old 4th Mar 2020, 13:30
  #3597 (permalink)  
 
Join Date: Aug 2009
Location: London
Posts: 309
Originally Posted by fernlee View Post
I agree , they will have to act now or there is a chance the company could go under .
Even if the company is bailed out, it's by no means safe. Consumer confidence has been destroyed. They have let the headlines be about Flybe being on the verge of bankruptcy for pretty much the past 18 months. We also don't know the full extent to which COVID19 will affect bookings and travel going forward - maybe a short bump is ok but if it turns out to be more prolonged, we'll be back here again in weeks or months. Flybe needs a complete overhaul. That unfortunately means cutting jobs and scrapping routes which don't make money.
BA318 is offline  
Old 4th Mar 2020, 13:34
  #3598 (permalink)  
 
Join Date: Mar 2012
Location: England, UK
Posts: 118
Originally Posted by fernlee View Post
A cut in APD in the budget will help . Flybe are not going anywhere iím sure of that .
For God's sake look further than the end of your nose. I saw this coming ages ago and jumped ship to protect myself. Please look after yourself.
Set 1013 is offline  
Old 4th Mar 2020, 13:34
  #3599 (permalink)  
 
Join Date: Jan 2006
Location: UK
Posts: 61
Originally Posted by fernlee View Post
A cut in APD in the budget will help . Flybe are not going anywhere iím sure of that .
Out of interest fernlee, what do you think Connect Airways are going to do to Flybe that will turn an airline consistently loosing £10 million plus a year, with hundreds of millions of pounds of liabilities, into a successful profitable airline serving the regions?
I'm not out for Flybe btw. I think they are yet another British company shafted by atrocious management over the long term.
Fletch is offline  
Old 4th Mar 2020, 13:35
  #3600 (permalink)  
 
Join Date: Sep 2008
Location: Blighty
Posts: 4,095
The time for major surgery on Flybe to turn the business around was 12 months ago, or maybe even 9 months ago when COW left.
davidjohnson6 is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.