Flybe-9
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[QUOTE=Brigantee;10678388]
From the government??
Hey dude,
I never stated it was a £100m loan. I hear it was a loan for the next 3 years. I agree though, it would have to be more like £500m to do that. Hell of a loan to repay though.
This is just what I have been told. As an ex employee myself (very fond of the old place too) I genuinely hope its true and it works out for
Ive heard a figure of 500 million being what the offer will be to get us sorted ....MOL the rest can do what they want it won’t effect things .
I never stated it was a £100m loan. I hear it was a loan for the next 3 years. I agree though, it would have to be more like £500m to do that. Hell of a loan to repay though.
This is just what I have been told. As an ex employee myself (very fond of the old place too) I genuinely hope its true and it works out for
Ive heard a figure of 500 million being what the offer will be to get us sorted ....MOL the rest can do what they want it won’t effect things .
Join Date: Mar 2012
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[QUOTE=Brigantee;10678388]
I don't think for a second it will make a difference if MOL or any other CEO jumps onto their high horse.
If the government have made this decision then that is the decision. We are now out of the EU and hopefully Boris is putting this country and its infrastructure first. Therefore I can see him making this investment into flybe now he can flex his mussels a bit.
With regards to my original post and other PPRUNE police. As stated many times before, this is a rumour network. I have heard that this deal is done deal which has been communicated to crews. As I no longer work for BE I was hoping someone would confirm this good news. That's all.
Hey dude,
I never stated it was a £100m loan. I hear it was a loan for the next 3 years. I agree though, it would have to be more like £500m to do that. Hell of a loan to repay though.
This is just what I have been told. As an ex employee myself (very fond of the old place too) I genuinely hope its true and it works out for
Ive heard a figure of 500 million being what the offer will be to get us sorted ....MOL the rest can do what they want it won’t effect things .
I never stated it was a £100m loan. I hear it was a loan for the next 3 years. I agree though, it would have to be more like £500m to do that. Hell of a loan to repay though.
This is just what I have been told. As an ex employee myself (very fond of the old place too) I genuinely hope its true and it works out for
Ive heard a figure of 500 million being what the offer will be to get us sorted ....MOL the rest can do what they want it won’t effect things .
I don't think for a second it will make a difference if MOL or any other CEO jumps onto their high horse.
If the government have made this decision then that is the decision. We are now out of the EU and hopefully Boris is putting this country and its infrastructure first. Therefore I can see him making this investment into flybe now he can flex his mussels a bit.
With regards to my original post and other PPRUNE police. As stated many times before, this is a rumour network. I have heard that this deal is done deal which has been communicated to crews. As I no longer work for BE I was hoping someone would confirm this good news. That's all.
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[The rumoured] £500m is a hell of a loan for a regional airline to pay off. When you look at some of the last available public accounts revenue was £752.6 million. The debt-to-income ratio on that would be absolutely mental!
If the government have made this decision then that is the decision. We are now out of the EU and hopefully Boris is putting this country and its infrastructure first. Therefore I can see him making this investment into flybe now he can flex his mussels a bit.
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Word is it’s repayment schedule is very flexible .......if we can’t pay anything back for a few years it’s not a big deal
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Word is it’s repayment schedule is very flexible .......if we can’t pay anything back for a few years it’s not a big deal , Main thing is get the company on a sound footing .
No - but most EU law has now been adapted into UK law. Can't say for certain about State Aid, but I'd be surprised if it hasn't.
It will stay as UK law until Parliament changes it, and that won't be during the Implementaion period i.e. until the end of December.
It will stay as UK law until Parliament changes it, and that won't be during the Implementaion period i.e. until the end of December.
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I find it almost inconceivable that HMG would stump up £500 million and if it did it would surely mean Flybe moving into State ownership. If the owners won’t stump up the money they clearly don’t believe it’s worth saving and I would suggest that the logical move would be to put the company into administration out of which a newco could be reborn with lower costs (leases, overheads etc) and the ability to concentrate only on that part of the network worth having. I finally concluded that Flybe management has lost the plot when I read about the launch of LCYLUX. What possible sense does this make? It doesn’t add connectivity to Virgin, Air France etc. It doesn’t fit with the narrative of Flybe providing vital UK infrastructure (and thus encourage HMG to get involved). It does demonstrate that Flybe management clearly haven’t a clue.
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Completely agree Willy Wombat! If the investors not wanting to invest money in the company only confirms that they don’t think it is worth investing in. A £500m pound loan from the government would line the investors nicely as there is no hope in hell for the government to recover the money once the inevitable happens.
It's not that simple. Certain UK airports would no longer be commercially viable without flybe, and it's not as if someone else will move in to fill the gap. Loganair have enough on their plate and Eastern are in a downward spiral.
Belfast City, Exeter and Southampton would be at risk overnight if flybe closed. Glasgow is already going backwards in relative terms and Newquay would lose vital connections overnight. The fallout to UK PLC would be more than Thomas Cook going under IMHO.
Belfast City, Exeter and Southampton would be at risk overnight if flybe closed. Glasgow is already going backwards in relative terms and Newquay would lose vital connections overnight. The fallout to UK PLC would be more than Thomas Cook going under IMHO.
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It's not that simple. Certain UK airports would no longer be commercially viable without flybe, and it's not as if someone else will move in to fill the gap. Loganair have enough on their plate and Eastern are in a downward spiral.
Belfast City, Exeter and Southampton would be at risk overnight if flybe closed. Glasgow is already going backwards in relative terms and Newquay would lose vital connections overnight. The fallout to UK PLC would be more than Thomas Cook going under IMHO.
Belfast City, Exeter and Southampton would be at risk overnight if flybe closed. Glasgow is already going backwards in relative terms and Newquay would lose vital connections overnight. The fallout to UK PLC would be more than Thomas Cook going under IMHO.
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I guess the question is whether the majority go flyBe’s network is viable, or if flyBe has such fundamental structural issues that it cannot be saved. flyBe has required £200 million from Connect and somewhere between 100 and 500 million from the government. If the network is not fundamentally viable then this is good money after bad, the Government needs to be honest with their intentions and nationalise it, or offer PSO funding on competitive tender terms. Simply propping up a chronically loss making airline is madness.
500 million is between 0.5 and 1% of the HS2 budget, for example, yet there will be zero return. How long until flyBe requires yet-more cash? If the UK feels the need for a chronically loss making national airline to connect the domestic market by air, that’s fine. But do the proper thing and call it that, take over the operating assets as the “operator of last resort”
500 million is between 0.5 and 1% of the HS2 budget, for example, yet there will be zero return. How long until flyBe requires yet-more cash? If the UK feels the need for a chronically loss making national airline to connect the domestic market by air, that’s fine. But do the proper thing and call it that, take over the operating assets as the “operator of last resort”