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Flybe up for sale

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Flybe up for sale

Old 13th Nov 2018, 20:58
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Flybe up for sale

AIMINGHIGH123 is offline  
Old 13th Nov 2018, 21:09
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"Flybe, which is now valued at just £25m by the stock market, remains one of the UK's best-known airline brands"

Like WOW. How much dept have the directors run up?
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Old 13th Nov 2018, 21:10
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Declared themselves unviable basically.
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Old 14th Nov 2018, 00:27
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Saad Hamad will be laughing his head off because he was the only one who was turning it round but Flybe made a grave **** up yet again

but a great opportunity for others
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Old 14th Nov 2018, 00:51
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Enterprise value (market cap plus finance debt) is actually £90m. It has lost large amounts of money in two of the last five years and done little better than break even in the other three. Apparently itís going to lose £20m plus this year. I hate to think what its operating lease commitments might be. The shares are worse than worthless on a going concern basis. The only saving grace might be its slots, beneficial aircraft leases and attractive (or not) aircraft portfolio. This is not a business. It is a bunch of assets awaiting liquidation,
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Old 14th Nov 2018, 05:33
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A great opportunity night fright. I don't think so. Unfortunately it is too far gone, rank bad management over a number of years and the ridiculous APD has not helped. Sorry for the staff but the airline is on life support.
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Old 14th Nov 2018, 06:29
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Up on the Beeb now;
https://www.bbc.co.uk/news/business-46203183
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Old 14th Nov 2018, 06:39
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I have only been here 3 years but in that time the lack of direction is frustrating. I feel Saad was going in the right direction and should have had more time.
The ship has been sinking slowly for a while and with Brexit uncertainty it has only sped up. You only have to look at how many airlines have gone in the last year as well. Our saving grace is we do operate unique routes with some government backed so that is pumping some of the water out.
Many are jumping ship or have and Iím not far behind.
Sad times
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Old 14th Nov 2018, 07:09
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Can't think who would want to buy them or any reason to do so. I wouldn't have thought that many slots they hold would be of much value. Stobart were previously interested but if they did buy them couldn't see them operating at anywhere near the same size. More likely that Stobart, Eastern, Loganair et al would expand to take over some routes.
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Old 14th Nov 2018, 07:31
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How strong are Loganair/Bmi Regional? Could they "buy" in the way that BA bought Dan Air, ( e.g. for £5) retaining some E-Jets and crews operating ex BHX, SOU and MAN. BMi could drop the regional and become British Midland once again unless BA hold the rights to that name. Stobart would take over IOM,NQY. LCY would be left to an expanded BA Cityflyer. Easy to pick up some sun routes where viable e.g. SOU and EXT.
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Old 14th Nov 2018, 08:37
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Not much sympathy, the way they’ve killed/tried to kill other regional airlines in the past.
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Old 14th Nov 2018, 08:54
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Originally Posted by ICEHOUSES View Post
Not much sympathy, the way theyíve killed/tried to kill other regional airlines in the past.
Iím sure all the employees who are now probably worried about their jobs will appreciate your opinion.
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Old 14th Nov 2018, 09:05
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Stobart will get it on the cheap now and take the profitable bits. Its got a qualified audit report from PwC and the credit card folks and other creditors will be swarming around pretty quick to find a deal soonest. This will happen quickly.
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Old 14th Nov 2018, 09:24
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Should have stayed with Saad instead of getting rid of him and getting in a CEO who didn’t make massive moves at CityJet either......

They needed consistency and direction not further upheaval with leadership changes...

Who else are strategic potentials:

Stobart
Eastern
Logan/BMI

Anyone else?
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Old 14th Nov 2018, 10:05
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CVA , get rid of the ejets . Get rid of 20 Dash . There is a good wee regional business in there somewhere .
As it stands at the moment , itís worthless.

if it lasts the week Iíd be surprised . A big creditor , either fuel or airport will get nervous and jump shortly .

And befoee the bleating starts , I used to work there , got plenty of mates who work there and they are under no illusions .
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Old 14th Nov 2018, 10:37
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What happens if there is no interest? Flybe goes bust? I sincerely hope not.
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Old 14th Nov 2018, 10:52
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Government should have implemented a regionalised ADP policy, nudging up the London/SE rate to pay for relief elsewhere.
Originally Posted by ICEHOUSES View Post
Not much sympathy, the way theyíve killed/tried to kill other regional airlines in the past.
Agreed. What goes around...
ajamieson is online now  
Old 14th Nov 2018, 11:18
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Whilst this is sad news for the UK regional airline market, I for one wouldn't be that sad to see the end of Flybe.
Their business tactics over recent years have quite frankly been disgusting, and the flight crew recruitment debacle with CTC in 2016/17 was an absolute shambles. Yes, I feel sorry for the flight crew currently there, but the way they've handled recruitment and messed around potential candidates over the last few years before the improvement in the market was a disgrace. The number of excellent guys I know, that were waiting to work for Flybe, at local Flybe bases, that were rejected from the recruitment process was shocking. (Q400 rated captains, Instructors, ATP, Kingair and ATR turboprop FO's with hundreds of hours that were rejected from the process, whilst CTC/L3 holdpool candidates breezed through) I can imagine has increased the instability and retention of their flight deck workforce considerably over the last 12 months. Reap what you sow comes to mind.
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Old 14th Nov 2018, 11:53
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Originally Posted by crewmeal View Post
What happens if there is no interest? Flybe goes bust? I sincerely hope not.
If nobody shows up I guess they will fold and liquidate all assets. Someone might show up, given the right price.
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Old 14th Nov 2018, 12:12
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I should think SOU management are sh***ing themselves . . .
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