The longer it takes before shareholders in all companies vote, the greater the potential for the deal to fall apart. The precarious state of Flybe's finances suggest that customers will be wary of booking with Fybe, especially for dates far in advance.
If things really are as bad for Flybe as the 1p per share price implies, then all companies involved should presumably be wanting to get all approvals and everything finished earlier rather than later

• Seven pairs of LHR remedy slots can be used for Europe from March next year (2020)
• Same seven pairs can also be swapped or traded from March next year too
• Five more pairs have to be used for domestic until March 2022 then the same applies

Buy a sinking ship for £2.2m. Put in £20m to tide it over. Offer 'up to £80m' for later - no specific promises though. Cherry pick the best of the current network. Bring in short-haul partner to prop up the operation. Do deals on the seven LHR slot pairs when they can be traded in 2020 - AF/KL intra-EU, VS/DL long haul, or 'sell' them. Do the same with the other five pairs in 2022. Drop LHR UK domestic ops - '"we tried but it didn't work" If what's running around the provinces still isn't making money by then shut the rest down too.

Twelve LHR slot pairs for £22.2m down plus whatever it takes to keep the former Flybe going until 2022. How much are well-timed pairs worth?

The slots can't be traded, sold or swapped. They can be used for other European routes in the time frame noted above.

Sadly, that is what many modern CEOs see as their job 'talk it up'. My fater worked in Personnel (long before HR :rolleyes:) and he said that, when the big boss announces a merger/takeover and says that jobs are safe - is the time to start looking for a new job.

EastMids - read on!

1.3.7 For the avoidance of doubt, the Slot Release Agreement may: (a) contain prohibitions on the Prospective Entrant transferring its rights to the Slots to a third party, making the Slots available in any way to a third party for the use of that third party, or releasing, surrendering, giving up or otherwise disposing of any rights to the Slots; and/or

Question to the corporate savvy people out there: What would be the consortium's next move if a majority of shareholders reject the 1p offer, and what do said shareholders have to lose (apart from 1p X shareholding) by rejecting the offer?

Raise the offer to a higher price - maybe 4p per share given the price at the moment - and label the offer as 'final'

Shareholders have to decide if after all debts, leases and other obligations have been paid, whether any money more than 1p per share is left for them in the event of bankruptcy

That is the bit I see as being an issue.

If Flybe couldn't make it work and increase fares then why is giving an aircraft a paint job, putting staff in new uniforms and calling it a different name going to make people want to pay more ?

I don't think people do BUT when you have Airlines like Ryanair and Easyjet than have the resources to move air frames at will then Flybe/Virgin has little chance of expanding on high passenger routes. If interlining passengers start using VS more than BA then BA will just take the hit in offering lower fares to chuck a spanner in the works.

I see little in it for Virgin.

As he has an ongoing legal action then he may be keen to sell were an agreement reached on the legal dispute.

BIG problem however in that Connect bought the shares of Flybe Plc at a particular price and that offer is to the majority of shareholders. An official offer must be made at a certain fixed price. Stock market does NOT allow certain shareholders to get a premium price above other shareholders so holding 100 shares or 100,000 is irrelevant as you get same price.

Therefore if legal agreement settled, such that Mr Tinkler sold his shares at the certain fixed price in consideration that legal agreement was settled. A shareholder who had to sell his shares for 1p may say but Mr Tinkler because of his separate legal action, which forced a separate company involved in this deal to settle, got 12p per share then I should also get the same amount. I am not wholly sure there is settled law on this but can guarantee if I bought at 16p and lost 15p I would be going to court.

Brexit changes all of that I believe as not following EU rules will be par for the course.

In a Stockmarket takeover you need 50.00001% to have won control. When you have 90% of the shareholding you can cancel the Stockmarket listing and acquire the rest of the shares and sent a cheque to the owners of said shares at the value of the offer. This happened with Glazer takeover at Manchester United among many that have taken place.

One you have 50% you can appoint the board and everybody else.

If I owned 10.1% I would object to the scheme of arrangement as it is an attempt to get around normal Stock Exchange rules. Stock Exchange may also become an interested party with anybody taking a legal case. In reality only people that will benefit from this are Lawyers.