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Originally Posted by mik3bravo
(Post 10310676)
True, but shareholders run the show now, board largely irrelevant under these circumstances.
They do have shares in FlyBE Group Plc which is a holding company ( formerly Walker Aviation Ltd ). So they can tell that board what to do, but not the airline management. The aircraft which are owned directly are registered to FlyBE Ltd, rather than the Group, which could make a sale of that unit quite straiightforward; own aircraft, no public shareholders. Likewise FlyBE Aviation Services Ltd is a nice tidy little MRO package, complete with a contract for A400 work. I forsee the individual units being sold-off and the Group fading away into nothingness. |
If BA CITIflyer did get it I fear for the Exeter HQ.
I assume they would move the HQ to Manchester where the CF headquarters staff are based. |
Originally Posted by ATNotts
(Post 10310784)
EasyJet are in a completely different market, largely London centric in UK, and really a pan European airline.
Anyway, good of Flybe to blame Brexit and hide the news on a day when that subject will dominate the headlines. Coincidence ? I think not. |
You have to wonder who would hire Christine Ourmieres-Widener after this. She hasn't done well at Cityjet or Flybe.
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Originally Posted by BA318
(Post 10310867)
You have to wonder who would hire Christine Ourmieres-Widener after this. She hasn't done well at Cityjet or Flybe.
Such a shame, but fingers crossed for a very positive outcome for all involved with the company. Especially its very hard working and passionate frontline staff. Flybe are a very good airline with a very good product for its market. I hope it gets the investment and leadership it needs and remains as Flybe. |
Originally Posted by El Bunto
(Post 10310832)
The public shareholders, incidentally, don't have any share in the actual airline. It remains a limited company ( FlyBE Ltd ).
They do have shares in FlyBE Group Plc which is a holding company ( formerly Walker Aviation Ltd ). So they can tell that board what to do, but not the airline management. The aircraft which are owned directly are registered to FlyBE Ltd, rather than the Group, which could make a sale of that unit quite straiightforward; own aircraft, no public shareholders. Likewise FlyBE Aviation Services Ltd is a nice tidy little MRO package, complete with a contract for A400 work. I forsee the individual units being sold-off and the Group fading away into nothingness. I remember Walker when he ran his steel company and moved to Jersey and invested in building Jersey European. Indeed the instructor who sent me solo was later employed as a pilot flying their old twin Otters.. A lot of their business has been built on routes that are just about marginal. Norwich falls in to that arena. With the decline in operations in the southern North Sea one has to ask how much longer the regular revenue from oil traffic will support the airport. If we spool back a few years ago we had this fiasco. In 2008, in order to avoid losing a £280,000 rebate from Norwich Flybe advertised for "actors", as well as offering free return flights to Dublin on its website. Eastern,Flybe and Loganair face tough times ahead as do some of the airports they serve. |
You have to wonder who would hire Christine Ourmieres-Widener after this. |
The old 'Jersey European' culture still exists to this day, probably why they're in such a spot
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Current owners are in this link https://www.marketscreener.com/FLYBE...78595/company/
Break up value is greater than value of the company on Stock Exchange which is not a good thing. This means someone can buy and break up all the parts of it................... or as they are better known as "asset strip". |
Heard earlier today a big middle eastern opeartor is interested if true it good be good news Emirates maybe? |
I see that the share price has risen only a little, which suggests that the market isn't anticipating any bidding war.
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Probably not the best day to break the news with all the Brexit news or was it a ploy? I am sure there are more than one or two Airport commercial departments having a very reflectave and contemplatery conversation with the airport teams today.
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And by the end of day the shares were down slightly.
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More I analyse this, the more I'm coming back to the same conclusion as a few of you have speculated. Potentially, administration. Asset strip constituent entities to maximise asset disposal values, reconcile debtors and creditors, leave warranties & indemnities insurance to respond to residual liabilities. That may be the optimum as opposed to a rescue package with its significant risks.
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Dont shoot the messenger but have just seen this story online...
https://www.ft.com/content/9d5ab702-...-04b8afea6ea3t The story mentions the flybe LGW slots? LGW to NQY?....... I was thinking as I read the story about easyJet acquiring flybe - Manchester slots? flybe have a big operation at MAN - Surely easyJet would be interested in MAN slots... |
According to the FT EasyJet and Stobart are both looking at Flybe, EZY interested in parts of the business and STK the whole entity.or parts.
Stobart is not now ruling out another bid, potentially with the same structure as before — co-investment with a private equity partner and taken off Stobart’s balance sheet. That latter statement seems quite specific so perhaps there might be more to it then the general speculation that is doing the rounds |
Originally Posted by Brigantee
(Post 10310970)
Heard earlier today a big middle eastern opeartor is interested if true it good be good news Emirates maybe? Lets face it what would Flybe offer to someone like that ? |
Originally Posted by Tagron
(Post 10311470)
According to the FT EasyJet and Stobart are both looking at Flybe, EZY interested in parts of the business and STK the whole entity.or parts.
Stobart is not now ruling out another bid, potentially with the same structure as before — co-investment with a private equity partner and taken off Stobart’s balance sheet. That latter statement seems quite specific so perhaps there might be more to it then the general speculation that is doing the rounds |
Originally Posted by ib26uk
(Post 10311464)
Dont shoot the messenger but have just seen this story online...
https://www.ft.com/content/9d5ab702-...-04b8afea6ea3t The story mentions the flybe LGW slots? LGW to NQY?....... I was thinking as I read the story about easyJet acquiring flybe - Manchester slots? flybe have a big operation at MAN - Surely easyJet would be interested in MAN slots... Whilst MAG might be grateful EZY take the MAN slots they will be shelll shocked if domestic air bridge disintegrates! |
Airport slots belong to the operating airline unless there is another agreement (such as a remedy agreement) that precludes this. Without the airline, the slot doesn't effectively exist for the airport to do anything with, thus no airport can ultimately decide what an airline does with this asset. |
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