Flybe-9
Join Date: Mar 2004
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I was talking to someone a couple of months ago who was closely involved at the time, but is no longer connected. He reckoned that the whole revenge agenda against Loganair had been cooked up by the Chairman and then supported or at least not challenged by COW. Flybe had apparently lost around £5 mln of income with Loganair on side and the losses from the competition were nearly double that, so they had gone from plus £5 mln to about minus £15 mln on the whole thing. It was so bad that they were having crisis meetings at least twice a week and sometimes daily to try to work out what to do next. I bet that £15mln would have come in handy over the last few weeks but it was burned over a year ago.
It does sound like there were several people whose job was to shield the Chairman and CEO from bad news and make sure that they were teflon coated so nothing going wrong stuck to them. I've heard the words "self interest" quite frequently. Easy to say with hindsight but the warning signs were out there though. Blaming last autumn's results on high fuel costs when their own financial statements said 91% of fuel had been hedged was a bit rich.
It does sound like there were several people whose job was to shield the Chairman and CEO from bad news and make sure that they were teflon coated so nothing going wrong stuck to them. I've heard the words "self interest" quite frequently. Easy to say with hindsight but the warning signs were out there though. Blaming last autumn's results on high fuel costs when their own financial statements said 91% of fuel had been hedged was a bit rich.
Join Date: Nov 2000
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I am also reasonably well connected and completely agree with Alber Hall’s first paragraph above. I can’t comment on the second paragraph. As Loganair’s MD said at the time, it was a fight that Loganair couldn’t afford to lose so why FlyBe picked it was surely just down to ego.
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Join Date: Nov 2008
Location: GLASGOW
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in other news Flybe are rigorously enforcing hand baggage dimensions here in Manchester with 2pax asked to go and pay for oversized luggage. Struggle with the comms though - ‘starting yesterday we charge for this now’ - why not say you’ve always been out of policy so you were lucky not to be charged before!
Join Date: Aug 2008
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Anyways...
Sky News reporting that Flybe`s largest shareholder with a near 19% stake is furious with the directors of Flybe concerning recent events & is exploring all options including an injunction prohibiting the deal from being completed.
Sky News reporting that Flybe`s largest shareholder with a near 19% stake is furious with the directors of Flybe concerning recent events & is exploring all options including an injunction prohibiting the deal from being completed.
Join Date: Mar 2011
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in other news Flybe are rigorously enforcing hand baggage dimensions here in Manchester with 2pax asked to go and pay for oversized luggage. Struggle with the comms though - ‘starting yesterday we charge for this now’ - why not say you’ve always been out of policy so you were lucky not to be charged before!
Join Date: Nov 2008
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They shouldn't shame away from saying something along the lines "our maximum cabin bag size dimensions may be smaller than some other airlines.. ". Especially when its still free to carry two items onboard. Ultimately however, they should have enforced it fully and consistently from from the start. Then they wouldn't be getting all this negative feedback right now after so many people have broke their terms for so long.
Join Date: Apr 2010
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So Loganair decided (or were forced) to fly under their own name again, and where negotiating a codeshare agreement with Flybe.
Unknown to them, Flybe had other ideas... cherry-picking Loganair's best routes (to the islands) and using Eastern as their new franchise partner, to compete directly with Loganair.
It was a disaster, with Eastern's Embraer totally unsuitable for the Shetland run, in the first two months they cancelled 32% of services, while Loganair cancelled 17%.
Fares of £29 from Shetland to Aberdeen didn't attract passengers, and some loads were in single figures.
I recall, at Kirkwall, seeing 2 passengers boarding a Flybe flight to Aberdeen.
https://www.shetnews.co.uk/2017/12/0...at-went-wrong/
https://www.orcadian.co.uk/flybe-end-kirkwall-flights/
Join Date: Jan 2017
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Join Date: Oct 2003
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Join Date: Nov 2008
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Its funny you say that the CEO puts herself first, as the new Connec Airways deal transfers not only her but the CFO too. Amazing how shes dragged the airline to bankruptcy, causing massive potential job losses, but at least she gets to keep her own job! Bloody disgraceful.
Join Date: Jun 2000
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Takeover in Doubt due to insider trading by the Board
Join Date: Jun 2000
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“Close to You”
Insider trading does not necessarily mean the illegal trading of shares. In this case it was the leaking of price sensitive information. The noose is tightening. Shares will soon be suspended. Absolutely disgraceful by the BOD.
https://flybeplc.github.io/deal/
Insider trading does not necessarily mean the illegal trading of shares. In this case it was the leaking of price sensitive information. The noose is tightening. Shares will soon be suspended. Absolutely disgraceful by the BOD.
https://flybeplc.github.io/deal/
