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Flybe-9

Old 24th Jan 2019, 08:35
  #1501 (permalink)  
V12
 
Join Date: Nov 1999
Location: Edinburgh
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Share price passed 5p yesterday, despite the consortium bid at 1p
Hoskins as a 20% shareholder are trying to stop the bid in the court.
Is there really a second bidder airline out there who sees value for them?
Is Hoskins just trying to wind the consortium price up?
Will it all fall apart?
And what happens to Flybe if the short term liquidity is withdrawn
Discuss/Explain please; my crystal ball just went extremely foggy...
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Old 24th Jan 2019, 08:53
  #1502 (permalink)  
 
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Officially at least...

Flybe have informed investors this AM that the transaction is expected to be closed by 22.2.19 & will not require shareholder approval.

Shares down 38% this AM after a leap yesterday.
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Old 26th Jan 2019, 16:28
  #1503 (permalink)  
 
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Whatís the likelihood that the 4 new E75ís to be delivered this year will be in VS livery?
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Old 26th Jan 2019, 16:38
  #1504 (permalink)  
 
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Originally Posted by stewyb View Post
Whatís the likelihood that the 4 new E75ís to be delivered this year will be in VS livery?
If they are delivered. The first one is supposed to be this month i believe.
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Old 26th Jan 2019, 17:14
  #1505 (permalink)  
 
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Hosking trying to oust Laffin now - https://uk.news.yahoo.com/flybe-row-...l?guccounter=1
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Old 26th Jan 2019, 17:32
  #1506 (permalink)  
 
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Good grief. Eric Kohn is a blast from the past!
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Old 26th Jan 2019, 17:44
  #1507 (permalink)  
 
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How can they possibly hope to turn the business around if they don't purge the board and the senior management? I am all for this.
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Old 27th Jan 2019, 02:57
  #1508 (permalink)  
 
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Having worked there in a compliance role it is an airline that I would never ever again fly with until senior management are changed if you, AM are reading this I mean you totally incompetent.
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Old 27th Jan 2019, 08:03
  #1509 (permalink)  
 
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Originally Posted by matkat View Post
Having worked there in a compliance role it is an airline that I would never ever again fly with until senior management are changed if you, AM are reading this I mean you totally incompetent.
I am surprised investors have not decided to pursue an insurance claim under the D&O insurance policy given some of the comments in the media. I will imagine their D&O underwriters are feeling particularly anxious right now - there are potentially strong grounds to pursue a claim against the directors & officers perhaps?
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Old 29th Jan 2019, 15:07
  #1510 (permalink)  
 
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Looks like Simon Laffin is on borrowed time. As for the rest of the board, who knows. Absolutely shameful what has been going on at board level. My guess is they will all end up in court for what they have done to a great British Company. Jack Walker will be turning in his grave right now. Those of you with a shareholding in Flybe PLC (most of the staff) needs to lodge their support for Eric Kohn. Send an email to [email protected] and copy Eric in at [email protected] stating your support for Kohn and requesting that Laffin should be removed. You also need to state your shareholding quantity. In return they will explain fully the situation. Guys this is extremely important and for those that work at Flybe your best opportunity to keep your jobs. Virgin and Stobart are about to shaft all of you. Time is of the essence so please do not delay.
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Old 29th Jan 2019, 15:51
  #1511 (permalink)  
 
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Whilst I fully agree that an investigation into the directors' behaviour would be appropriate, isn't Virgin/Connect the best option for staff in terms of keeping their jobs? It seems pretty apparent that BE would've been at serious risk of collapse without the bridging loan.
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Old 29th Jan 2019, 16:00
  #1512 (permalink)  
 
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GSM763 - the 10million is just a guarantee for the CC company. Flybe is trading well and when the legacy issues are sorted (E195 and expensive Business Advisors are ditched) the problems will be history. Virgin intends to wind the company down and sell all of its valuable assets. If this deal goes through it’s curtains for all. Don’t be fooled by a glossy Virgin 747.
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Old 29th Jan 2019, 16:13
  #1513 (permalink)  
 
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Originally Posted by Hudson Bay View Post
GSM763 - the 10million is just a guarantee for the CC company. Flybe is trading well and when the legacy issues are sorted (E195 and expensive Business Advisors are ditched) the problems will be history. Virgin intends to wind the company down and sell all of its valuable assets. If this deal goes through itís curtains for all. Donít be fooled by a glossy Virgin 747.
Apart from 8 aircraft and the engineering side what assets does Flybe have?
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Old 29th Jan 2019, 19:09
  #1514 (permalink)  
 
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What planet are you on Hudson Bay. Flybe trading well you must be joking, they are losing thousands of pounds daily. The £10 million you mentioned has been handed over to keep it trading plus the £4.5 million from IAG for the Gatwick slots if it has been handed over. Please get real.
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Old 29th Jan 2019, 20:18
  #1515 (permalink)  
 
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Let’s agree to disagree. The facts remain, Virgin, Stobart and the BOD have hoodwinked both the staff and the shareholders. 2.8 million is a steal and that is fact. Yes there is 80m debt but the balance sheet is strong. The only issue is cash flow and Con-Air has took full advantage. If the takeover goes ahead (which it looks increasingly that it won’t) the CEO and CFO will have positions on the board of the new company. Talk about lining your own pockets. Installing Kohn gives access to information and will give transparency to what has been happening during the last 3 months. As mentioned above if you want further information regarding this sorry state of affairs please can I urge you to email [email protected] and lend your support to Kohn.
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Old 29th Jan 2019, 20:22
  #1516 (permalink)  
 
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Originally Posted by compton3bravo View Post
What planet are you on Hudson Bay. Flybe trading well you must be joking, they are losing thousands of pounds daily. The £10 million you mentioned has been handed over to keep it trading plus the £4.5 million from IAG for the Gatwick slots if it has been handed over. Please get real.
Correct again, Compton. £7,000 being lost per hour I've read. As for Virgin / Stobart shafting the staff, if they hadn't done the - admittedly dasterdly - deal, those staff would surely be facing redundancy, because in the current climate there's a distinct lack of white knights in shining armour coming to the rescue of distressed airlines.
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Old 29th Jan 2019, 21:32
  #1517 (permalink)  
 
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The company will not go bust!!! It’s only cash flow that’s the issue. There is a number of companies waiting in the wings to take this on. The BOD as I mentioned have been looking after themselves. If the company goes into administration then the shareholders lose everything. Nobody wants this to happen. Don’t think that Virgin /Stobart is your knight in shining armour - maybe Dick Turpin wrapped in tin foil. Don’t continue with your eyes shut, the city knows this is a bad deal for everyone, hence the share price. Flybe is a sound business and the big hitters are attempting to steal it. Don’t let it happen. Virgin will asset strip it and you’ll be out of a job.
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Old 29th Jan 2019, 21:50
  #1518 (permalink)  
 
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Originally Posted by Hudson Bay View Post
There is a number of companies waiting in the wings to take this on.
Care to elaborate ?
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Old 29th Jan 2019, 22:56
  #1519 (permalink)  
 
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Originally Posted by Hudson Bay View Post
The company will not go bust!!! Itís only cash flow thatís the issue.
Clue for you...... Companies go bust because of CASH FLOW.

Claims of a "Strong Balance Sheet" are really funny, Polly Peck has a great Balance Sheet and city loved it on a monday, on a tuesday it went bust because of Cash Flow, Enron and a whole litany of other companies are in same boat.

Cash is KING, everything else can be manipulated but Cash in Bank is there or its not and that is why a business will go bust. Suggesting otherwise shows you really don't understand the issues.
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Old 30th Jan 2019, 07:29
  #1520 (permalink)  
 
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Originally Posted by Hudson Bay View Post
The company will not go bust!!!......... Flybe is a sound business..........
Your ignorance is staggering!
Remind me of the amount of debt, assets and cash in the bank?

i donít think you realise how close they were to cease trading!
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