Flybe-V1
Join Date: Feb 2007
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KEF offers more flexibility in terms of opening times as they are H24, the FBO is more responsive than at RKV too.
RKV opening times are 0700-2300.
JETA1 is cheaper in KEF too.
RKV opening times are 0700-2300.
JETA1 is cheaper in KEF too.
Said aircraft has departed Iceland heading WNW this morning, but FR24 trace is lost between there and Greenland. The conversions are apparently to happen in Abbotsford, so it has a few stops to go yet.
Join Date: Nov 2007
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I have seen this doesnt sound to good i wounder if its do to do with
CAA plans to revoke all remaining of flybe's remaining certificates, including its Operating Licence (OL) and all associated scheduled and charter route authorities.
The hearing has been tentatively scheduled for February 26, 2021.
Notice that Lucien Farrell resigned on the February 26, 2021.
though did apply for an new AOC in december and got this in February
CAA plans to revoke all remaining of flybe's remaining certificates, including its Operating Licence (OL) and all associated scheduled and charter route authorities.
The hearing has been tentatively scheduled for February 26, 2021.
Notice that Lucien Farrell resigned on the February 26, 2021.
though did apply for an new AOC in december and got this in February
Last edited by allan1987; 2nd Mar 2021 at 22:23.
CAA plans to revoke all remaining of flybe's remaining certificates, including its Operating Licence (OL) and all associated scheduled and charter route authorities.
Join Date: Nov 2000
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Surely the point is that if the original Flybe’s licences etc are revoked, the Heathrow (and other) slots are lost and any “new” Flybe would have to start from scratch re slots.
I can't imagine there will be very much difficulty with slots at most airports, aside perhaps of LHR in UK, in the foreseeable future, and nobody knows what the strategy of the the new business will be - they may not wish to serve LHR anyway.
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The strategy/statements at the time appeared full well to revolve around the original slot portfolio/connectivity & if this is now lost including the most valuable at LHR & MAN then the strategy(allowing perhaps smoke & mirrors) is possibly lost too.
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Being reported that the departure of L F is indeed linked to "problems" connected with the old BEE slots & appears to put the proposed enterprise in jeopardy.
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Flybe grounded after hedge fund boss quits amid flight slot issues Collapsed airline's return at risk as pandemic complicates ownership of valuable take-off and landing slots
Will delete this if needed
Will delete this if needed
Flybe’s return to the skies is hanging in the balance amid the resignation of a “big swinging” hedge fund manager that was plotting the airline’s revival.
Lucien Farrell of Cyrus Capital, whose friends include Ben Elliot, the nephew of the Duchess of Cornwall and co-chairman of the Conservative Party, has stepped down as a director of the company Thyme Opco, according to official filings.
Thyme Opco acquired Flybe from administrators EY in October to “restore essential regional connectivity in the UK, and contribute to the recovery of a vital part of the country’s economy”.
Mr Farrell’s decision to stand down last Monday followed a crunch hearing on the previous Friday, February 26, between regulator Civil Aviation Authority (CAA), EY and law firm Freshfields.
The administrators argued that take-off and landing slots worth tens of millions of pounds each should be handed over to Thyme Opco.
An application by Thyme Opco for an operating licence was also lodged at the hearing.
Industry insiders said that the CAA had adjourned the part of the hearing relating to the transfer of the slots having been unable to come to a final decision.
But the operating licence application is expected to be granted in the next two weeks, the sources added.
Mr Farrell’s decision to acquire the Flybe brand, intellectual property, stock and equipment sparked speculation within aviation industry circles over his motives for restarting the perennially loss-making airline.
“Slots. That is all they are doing. Trying to find a way to reclaim and sell them,” one analyst claimed at the time.
Flybe collapsed a year ago with the loss of 2,000 jobs. Cyrus Capital previously owned the carrier alongside Sir Richard Branson’s Virgin Atlantic and what was called Stobart Group, the owner of Southend Airport.
The three investors were unable to convince the Government to plug a £100m hole in Flybe’s finances and were unwilling to invest more of their own capital with the spectre of coronavirus looming.
Flybe had up to 12 pairs of take off and landing slots at Heathrow airport. In the past, the sought-after slots have traded for high prices. Air New Zealand sold one slot pair at Heathrow for $27m (£20m) in March 2020, for instance.
The ownership of the slots has been complicated by the pandemic.
When airlines collapse, the administrators would sell them to another airline. If the administrators were unable to sell them, strict rules dictate that they would be handed back to a central slots coordinator.
However, the rules have been suspended during the crisis leaving the ownership of Flybe’s slots in limbo.
Mr Farrell’s resignation leaves Thyme Opco and associated companies with just one director, Jon Peachey, the chief executive of Virgin Group’s American operations between 2008 and 2013.
Mr Farrell, 46, often targets companies facing bankruptcy. One executive once described him as a “big swinging, high-rolling kind of guy. He has got a sort of free wheelin’ style that some investors value.”
Lucien Farrell of Cyrus Capital, whose friends include Ben Elliot, the nephew of the Duchess of Cornwall and co-chairman of the Conservative Party, has stepped down as a director of the company Thyme Opco, according to official filings.
Thyme Opco acquired Flybe from administrators EY in October to “restore essential regional connectivity in the UK, and contribute to the recovery of a vital part of the country’s economy”.
Mr Farrell’s decision to stand down last Monday followed a crunch hearing on the previous Friday, February 26, between regulator Civil Aviation Authority (CAA), EY and law firm Freshfields.
The administrators argued that take-off and landing slots worth tens of millions of pounds each should be handed over to Thyme Opco.
An application by Thyme Opco for an operating licence was also lodged at the hearing.
Industry insiders said that the CAA had adjourned the part of the hearing relating to the transfer of the slots having been unable to come to a final decision.
But the operating licence application is expected to be granted in the next two weeks, the sources added.
Mr Farrell’s decision to acquire the Flybe brand, intellectual property, stock and equipment sparked speculation within aviation industry circles over his motives for restarting the perennially loss-making airline.
“Slots. That is all they are doing. Trying to find a way to reclaim and sell them,” one analyst claimed at the time.
Flybe collapsed a year ago with the loss of 2,000 jobs. Cyrus Capital previously owned the carrier alongside Sir Richard Branson’s Virgin Atlantic and what was called Stobart Group, the owner of Southend Airport.
The three investors were unable to convince the Government to plug a £100m hole in Flybe’s finances and were unwilling to invest more of their own capital with the spectre of coronavirus looming.
Flybe had up to 12 pairs of take off and landing slots at Heathrow airport. In the past, the sought-after slots have traded for high prices. Air New Zealand sold one slot pair at Heathrow for $27m (£20m) in March 2020, for instance.
The ownership of the slots has been complicated by the pandemic.
When airlines collapse, the administrators would sell them to another airline. If the administrators were unable to sell them, strict rules dictate that they would be handed back to a central slots coordinator.
However, the rules have been suspended during the crisis leaving the ownership of Flybe’s slots in limbo.
Mr Farrell’s resignation leaves Thyme Opco and associated companies with just one director, Jon Peachey, the chief executive of Virgin Group’s American operations between 2008 and 2013.
Mr Farrell, 46, often targets companies facing bankruptcy. One executive once described him as a “big swinging, high-rolling kind of guy. He has got a sort of free wheelin’ style that some investors value.”
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While I could be wrong the only way i see this still going is that Stobart Air being brought over by Ian Woodely with funding from an UK private equity firm. Joining with Jonathan Peachey with flybe assets and New UK AOC
while using Stobart Air Irish AOC to create new UK regional flying airline.
while using Stobart Air Irish AOC to create new UK regional flying airline.