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Flybe-9

Old 15th Feb 2019, 20:11
  #1641 (permalink)  
 
Join Date: Apr 2013
Location: Scotland
Age: 31
Posts: 53
CLASS ACTION AGAINST FLYBE BOARD of DIRECTORS

Following discussion I have made a formal offer of advice by a senior barrister within a reputable national chamber. The partner has 15+ years experience with notable cases involving aviation and professional negligence.

If you are interested in taking part, and have not already contacted me, please email [email protected], being sure to include:
- contact details
- approximate loss amount
- whether you consent for your contact details to be shared with other interested shareholders

I will then write to advise on next steps.

Happy to take other queries at this address. Thanks
Weathergirly is offline  
Old 15th Feb 2019, 21:06
  #1642 (permalink)  
 
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Originally Posted by Weathergirly View Post

STATEMENT FROM ANDREW TINKLER FOLLOWING HIGH COURT JUDGEMENT, FRIDAY 15 FEBRUARY

High Court Rules Stobart Directors Rigged AGM Vote

Stobart’s claims on ‘conspiracy’ and expenses rejected

Andrew Tinkler calls for Warwick Brady and fellow directors to resign

Following a two-week trial in November 2018, the Judge (HHJ Russen) has found that Iain Ferguson, Warwick Brady, Andrew Wood and John Coombs have breached their fiduciary duties to Stobart Group by using company funds to gerrymander a vote at the July 2018 AGM in their favour. The Judge ruled that all four directors had acted for “improper purposes” by trying to manipulate the vote.

Mr Tinkler said: “In light of the Judge’s findings, Mr Brady, Mr Ferguson, Mr Coombs and Mr Wood have no place on the Board of Stobart Group and they should all step down without further delay.”

only told 1/5 of the story there I think !!!
fatmed is offline  
Old 15th Feb 2019, 21:18
  #1643 (permalink)  
 
Join Date: Nov 2013
Location: Somerset
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OK, I unerstand now.
Blackfriar is offline  
Old 15th Feb 2019, 22:58
  #1644 (permalink)  
 
Join Date: Nov 2007
Location: Northern Ireland
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Originally Posted by Weathergirly View Post
STATEMENT FROM ANDREW TINKLER FOLLOWING HIGH COURT JUDGEMENT, FRIDAY 15 FEBRUARY

High Court Rules Stobart Directors Rigged AGM Vote

Stobart’s claims on ‘conspiracy’ and expenses rejected

Andrew Tinkler calls for Warwick Brady and fellow directors to resign

Following a two-week trial in November 2018, the Judge (HHJ Russen) has found that Iain Ferguson, Warwick Brady, Andrew Wood and John Coombs have breached their fiduciary duties to Stobart Group by using company funds to gerrymander a vote at the July 2018 AGM in their favour. The Judge ruled that all four directors had acted for “improper purposes” by trying to manipulate the vote.

Mr Tinkler said: “In light of the Judge’s findings, Mr Brady, Mr Ferguson, Mr Coombs and Mr Wood have no place on the Board of Stobart Group and they should all step down without further delay.”


Full Story is

Logistics firm Stobart Group on Friday welcomed a high court judgement which it claimed left it victorious in a fight with rebel shareholder Andrew Tinkler.

https://www.standard.co.uk/business/...-a4068141.html


However, the judge rejected Mr Tinkler's argument the other directors "acted for the improper purpose of retaining their control of the company".He found they breached their duties by transferring 5.3m shares ahead of an Annual General Meeting, which it was claimed could have swayed the vote re-electing Mr Ferguson as chairman.However, the judge said they acted "with the company's best interests in mind" in doing so.

https://www.bbc.co.uk/news/uk-england-cumbria-47253158

Last edited by allan1987; 15th Feb 2019 at 23:00. Reason: space
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Old 16th Feb 2019, 21:40
  #1645 (permalink)  
 
Join Date: Apr 2016
Location: Essex
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BMI have ceased trading. Are those who are vehemently opposed to the Virgin / Stobart deal willing to now consider the possibility that just maybe Flybe was damned lucky that there was somebody - anybody - out there to come to their rescue.
DC3 Dave is online now  
Old 19th Feb 2019, 11:10
  #1646 (permalink)  
 
Join Date: Nov 2004
Location: scotland
Posts: 747
LM are operating the T3/BE flights between ABZ and NWI until the 31st March on a Saab 2000.
goldeneye is offline  
Old 19th Feb 2019, 12:51
  #1647 (permalink)  
 
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Originally Posted by DC3 Dave View Post
BMI have ceased trading. Are those who are vehemently opposed to the Virgin / Stobart deal willing to now consider the possibility that just maybe Flybe was damned lucky that there was somebody - anybody - out there to come to their rescue.
Think of the picture of that house in China in the middle of the highway that the owners refused to move out off. So they built round them.
Now raise it up a level an that is nearing how stubborn some are to change
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Old 19th Feb 2019, 19:28
  #1648 (permalink)  
 
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An Arizona-based commuter airline is backing a proposal to shore up the finances of Flybe, the struggling regional carrier, in a last-ditch effort to scupper a takeover led by Virgin Atlantic Airways.

Sky News can exclusively reveal that‎ Mesa Air Group, which is headquartered in Phoenix, is part of a consortium which has tabled an offer to inject £65m of new equity into Flybe.
https://news.sky.com/story/arizona-a...-deal-11642267
EI-EIDW is offline  
Old 19th Feb 2019, 20:57
  #1649 (permalink)  
 
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Pretty sure the board will have already rejected any potential of this. To them the 'Connect Airways' consortium is the only offer ever to go forward for them. Backhanders galore from Virgin.
Cazza_fly is offline  
Old 19th Feb 2019, 20:58
  #1650 (permalink)  
 
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https://news.sky.com/story/arizona-a...-deal-11642267

This proves there is God and will probably keep the Board out of prison.

We can now get Laffin and COW out, get Kohn in and start moving forward.

This is such good news for everybody.
Weathergirly is offline  
Old 19th Feb 2019, 21:05
  #1651 (permalink)  
 
Join Date: Jul 2017
Location: shannonIreland
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This is excellent news, hopefully it gets approved
snn20 is offline  
Old 19th Feb 2019, 21:31
  #1652 (permalink)  
 
Join Date: Jun 2007
Location: UK
Posts: 321
It's only excellent news if it gets accepted. I wouldn't hold your breath.

Last edited by Reversethrustset; 19th Feb 2019 at 22:22.
Reversethrustset is offline  
Old 19th Feb 2019, 22:56
  #1653 (permalink)  
 
Join Date: Jan 2002
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Only good news for those who play the stock market not for the staff
jmccrew is offline  
Old 19th Feb 2019, 23:10
  #1654 (permalink)  
 
Join Date: Nov 2018
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Sorry to burst anyone but it looks like Flybe has now complete the sale of the airline website and maintenance
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Old 19th Feb 2019, 23:17
  #1655 (permalink)  
 
Join Date: Aug 2014
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Forgive my cynicism but what do Mesa bring to the table? If it were Air Nostrum riding in I might understand the logic more but other than slightly better buying power for new aircraft I can’t see the benefit for an airline flying under the banner of AA & UA working with different model and fleet thousands of miles away.
AirportPlanner1 is offline  
Old 19th Feb 2019, 23:22
  #1656 (permalink)  
 
Join Date: Nov 2007
Location: Northern Ireland
Posts: 112
cant see this deal with mesa airlines going though

plus
Ruthless credit card firms starved Flybe of £50m


https://www.thisismoney.co.uk/money/...Flybe-50m.html
allan1987 is offline  
Old 20th Feb 2019, 07:30
  #1657 (permalink)  
 
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Whatever happens, do the Flybe and flybmi models actually work any more? There seem to be simple economics at play. If you can fill the aircraft with the lowest seat/mile costs, then the route is viable. The tiny sub-market of small aircraft and higher fares for business users is marginal and likely to be swamped by a lo-co the minute the route shows any sign of volume demand. Do either bidders for Flybe aim to change the model to Lo-co or keep it staggering on as is?
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Old 20th Feb 2019, 09:18
  #1658 (permalink)  
 
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Originally Posted by tom7130 View Post
Sorry to burst anyone but it looks like Flybe has now complete the sale of the airline website and maintenance
The sooner the better..... for all Flybe employees, Flybe suppliers, Customers...... and the pension of 1000s of people.
GeekPilot is offline  
Old 20th Feb 2019, 11:18
  #1659 (permalink)  
 
Join Date: Mar 2011
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Originally Posted by Blackfriar View Post
Whatever happens, do the Flybe and flybmi models actually work any more? There seem to be simple economics at play. If you can fill the aircraft with the lowest seat/mile costs, then the route is viable. The tiny sub-market of small aircraft and higher fares for business users is marginal and likely to be swamped by a lo-co the minute the route shows any sign of volume demand. Do either bidders for Flybe aim to change the model to Lo-co or keep it staggering on as is?
The Flybe model is actually already different to the bmi regional model, which is plain to see. However, it does need a clearer direction and that is for one closer to a ULCC style operation. They have the correct type of aircraft for the routes and network they serve and ultimately their fuel spend is lower than some of their competitors due to this and the lower average flight times they operate. What they have always struggled with to make money on unlike their LCC competitors, is their reluctance to push and increase ancillary revenue spends. Coupled with their many legacy overheads and no one in charge with the guts to change either, i feel it has brought them to where they're at now.
Cazza_fly is offline  
Old 20th Feb 2019, 11:24
  #1660 (permalink)  
I REALLY SHOULDN'T BE HERE
 
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Mesa's business model is to fly regional services on behalf of US mainline carriers. They may see some mileage in the model in Europe. Flybe has too many aircraft in the UK it would appear. Perhaps a fleet redistribution would be on the cards in the event of a successful bid.

What they have always struggled with to make money on unlike their LCC competitors, is their reluctance to push and increase ancillary revenue spends.
It is harder to sell onboard to business people on 40 minute flight to another UK city than when you have people sitting down the back for 2+ hours. Additionally their baggage requirements are less. Priority boarding is not such an issue when a lot of the passengers are business pax with maybe only a laptop case - embarkation and disembarkation on the Dash eight never take particularly long. If BE is to make money it needs to be on the fare. It is hard to do this when your fleet size is so large that basically you are diluting your own yield through having an excessive number of rotations between airports. The company needs to shrink the fleet or diversify the business model. The company does not have enough cash to renew the fleet which means that they are basically stuck with the current fleet of Dash + ERJ. The Dash is (in my opinion) not fit for anything much further than 1hr 15mins due to comfort issues so there is not much scope to change length of sector so as I see it, BE's path back to profitability is through capacity management and/or flying for someone else. The Embraers offer a bit more flexibilty in terms of sector length but the problem is that they are not cost competitive on longer routes vs a full 737 or 320. I think the Virgin feeder thing will be of limited scope - I cant see LHR allowing any serious number of Dash 8 or 175 rotations into the airport due to wasted capacity. Regrettably there is no easy option for BE.

Last edited by speedrestriction; 20th Feb 2019 at 11:43.
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