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Flybe-9

Old 30th Jan 2019, 07:42
  #1521 (permalink)  
 
Join Date: Jul 2003
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Hudson Bay -
I agree with those who are telling you that cash is king. Having run numerous businesses, it's the thing you check daily!!
CEO and CFO will have positions on the board of the new company.
That would be extremely unlikely. Having been a CEO during a "friendly" takeover, I and the FD were dispatched immediately on completion.
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Old 30th Jan 2019, 08:19
  #1522 (permalink)  
 
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Put it this way, had they not received that bridging loan they were a few days away from going under - again. Anyone who thinks otherwise (Hudson Bay) is just deluding themselves. This deal presents the best solution going forward into the very short term, what happens medium term is anyone's guess but as a workforce it gives you a stay of execution to sort yourselves out.
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Old 30th Jan 2019, 08:29
  #1523 (permalink)  
 
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I wonder who at Hoskings Partners decided to buy all those shares in the company. I would be surprised they are still there. One thing for sure they did not know too much about UK regional airlines making money. Just read the blurb on Hoskings website, personally total gobbledegook and utter b******ks! Some you win, some you lose when buying stocks and shares, this time they lost.
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Old 30th Jan 2019, 08:29
  #1524 (permalink)  
 
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I understand that some of you will not go with what I am telling you. That is your choice. That said if you are a shareholder in the company and wish to know the full details of this catastrophic deal I urge you to email Kohn and find out for yourselves. Doing nothing is sealing your fate. Good luck guys.
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Old 30th Jan 2019, 09:06
  #1525 (permalink)  
 
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A very wise man once told me that, in business, "market share is vanity, profit is sanity but cash is reality". I can tell you from vast experience that the main thing that the CAA's Airline Finances group is interested in is an airline's cash flow. Lots of cash in the bank = CAA happy. Lack of cash in the bank = CAA unhappy regardless of what profits etc you claim.
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Old 30th Jan 2019, 11:15
  #1526 (permalink)  
 
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As expected flybe cutting ties with Avios effective 30th April


cs
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Old 30th Jan 2019, 12:03
  #1527 (permalink)  
 
Join Date: Nov 2008
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Originally Posted by LGS6753 View Post

That would be extremely unlikely. Having been a CEO during a "friendly" takeover, I and the FD were dispatched immediately on completion.
Generally a stupid thing to do, keep them on for at least a year to help integrate and use their knowledge. What you describe is generally what happens and they wonder why most takeovers don't deliver.
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Old 30th Jan 2019, 15:01
  #1528 (permalink)  
 
Join Date: Jan 2013
Location: Leeds u.k.
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Without the £10m put down with the deal to buy, Flybe would have had to close down.
Assets on a balance sheet are valued as a going concern, once the doors close on a business usually a 10% value is given.
This is far from a done deal, I have been sad enough to read the sale agreement and it contains a Brexit agreement. Assuming a deal on the 29th March, Virgin becomes a european company as does IAG. The e.u. this month has once again clearly pointed out that no amount of creative opening of new companies, its the place of residency of the shareholder that determines whether a european or u.k. company not a AOC issued by any country.
I am a Ryanair shareholder and on the 29th March we become a u.k. airline, the company is trying to make u.k. shareholder non voting, but the e.u. quite rightly sees this as game playing, never mind the shareholders refusing this option.
Common sense is the order of the day at the moment and both the e.u. and the u.k. have decided whether a deal or no deal, existing rules will run until the end of this year.
The new Connect company wont obey e.u. regulations to be a u.k. airline and it certainly wont have grandfather rules on flight networks, that also come in to play for this company.
When you throw in Mr Tinker who awaits a judgement on his dispute with Stobart and its no surprise he has taken a stake and Hoskins with their 20% stake taking the view that Virgin and Stobart, with the later having tabled a bid, are frustrating the market with their joint bid.
The legal costs alone may sink the company.
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Old 30th Jan 2019, 15:14
  #1529 (permalink)  
 
Join Date: Apr 2010
Location: London
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Latest Flybe email has a red and purple colour scheme... very Virgin!
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Old 30th Jan 2019, 15:20
  #1530 (permalink)  
 
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What will the Airline be branded as under the new agreement, Connect Airlines or Virgin? or something else?
Gordon_uk3 is offline  
Old 30th Jan 2019, 16:12
  #1531 (permalink)  
 
Join Date: Mar 2018
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I'd imagine it would be Virgin Atlantic (Operated By Connect Airways UK) for Flybe, and an example of Stobart's franchises would be Aer Lingus Regional (Operated By Connect Airways Ireland).
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Old 30th Jan 2019, 17:31
  #1532 (permalink)  
 
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Originally Posted by Gordon_uk3 View Post
What will the Airline be branded as under the new agreement, Connect Airlines or Virgin? or something else?
Connect with a Virgin.
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Old 30th Jan 2019, 17:34
  #1533 (permalink)  
 
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Originally Posted by Leeds Spotter View Post
I am a Ryanair shareholder and on the 29th March we become a u.k. airline, the company is trying to make u.k. shareholder non voting, but the e.u. quite rightly sees this as game playing, never mind the shareholders refusing this option.
Nope you don't. Company will still be Irish Company. Compny has changed their rules like Easyjet such that they can acquire shares of UK shareholders to get below 50% held.
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Old 30th Jan 2019, 17:49
  #1534 (permalink)  
 
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As I would have expect flyBe have turned down Hosking’s attempt in ousting Laffin. The next question is what their next move will be, clearly they are not going to give up easily.
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Old 30th Jan 2019, 18:27
  #1535 (permalink)  
 
Join Date: Mar 2004
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Laffin’s ego is one of the main reasons why the airline is in the state it is today. If the Board had been operating properly, he would have been gone over a year ago. Quite aside from his CEO appointment, the sheer hubris of the man would have been sufficient to drive this company into the ground. Clearly has no scruples.
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Old 31st Jan 2019, 16:57
  #1536 (permalink)  
 
Join Date: Jun 2000
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Laffin is nothing more than a white collar criminal. Now that Aberdeen Standard Investments have joined forces with Hoskins and Tinkler, he should relinquish his position with immediate effect. The man arrived when the share price was £1.20, my kids could of done a better job.

Simple Simon met a pieman,
Going to the fair;
Says Simple Simon to the pieman,
“Let me steal your ware.”

Says the pieman to Simple Simon,
“Show me first your penny,”
Says Simple Simon to the pieman,
“Indeed, I have not any.”

“But I will have soon when I steal off my staff and shareholders”
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Old 31st Jan 2019, 17:30
  #1537 (permalink)  
 
Join Date: Apr 2010
Location: London
Posts: 383
If he was anything to do with the Loganair spat he should go. All the peeps involved should.
SealinkBF is offline  
Old 31st Jan 2019, 19:58
  #1538 (permalink)  
 
Join Date: Nov 2008
Location: Darkest Surrey
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Originally Posted by Hudson Bay View Post
Laffin is nothing more than a white collar criminal. Now that Aberdeen Standard Investments have joined forces with Hoskins and Tinkler, he should relinquish his position with immediate effect. The man arrived when the share price was £1.20, my kids could of done a better job.

Simple Simon met a pieman,
Going to the fair;
Says Simple Simon to the pieman,
“Let me steal your ware.”

Says the pieman to Simple Simon,
“Show me first your penny,”
Says Simple Simon to the pieman,
“Indeed, I have not any.”

“But I will have soon when I steal off my staff and shareholders”
You seem to be particularly fond of abusing people and making claims as to criminality without providing a single shred of proof.
racedo is offline  
Old 31st Jan 2019, 20:10
  #1539 (permalink)  
 
Join Date: Sep 2008
Location: Blighty
Posts: 3,638
Perhaps incompetence and useless might be better descriptions for a chairman who has presided over a severe decline in the share price and taken the company close to bankruptcy ?
davidjohnson6 is offline  
Old 31st Jan 2019, 20:59
  #1540 (permalink)  
 
Join Date: Apr 2010
Location: London
Posts: 383
Look at the share price under the current board.
I am aware that I am banging a drum here but I think the Loganair spat has cost Flybe so much and it was under the current boards approval.
SealinkBF is offline  

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