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Stigmata Posted on 11/01/2019 12:16
Edited On: 11/01/2019 12:28FLYBE rescued by VIRGIN and STOBART
 
 
Flybe shares had tumbled to about 1p and is being bought for £2.2m by a consortium including Virgin Atlantic and Stobart Group.

It will operate under the Virgin Atlantic brand, marking a return by Virgin to domestic flights, following a failed attempt five years ago.

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Bobby_Braithwaite Posted on 11/01/2019 12:29

FLYBE rescued by VIRGIN and STOBART

 
Taking off from an airport near us? Could one of those involved be a company might be running said airport. The one that can't be named by a secretive Mayor, than secretive than Kim Jong-un IMO.
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Jonny_Rondos_Disco_pants Posted on 11/01/2019 13:41

FLYBE rescued by VIRGIN and STOBART

 
Flybe without Eastern Airways would be a great improvement. Hopefully Stobart / Virgin & Flybe get into bed with each other at Teesside.
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Anton_Berg Posted on 11/01/2019 13:44
Edited On: 11/01/2019 13:44
FLYBE rescued by VIRGIN and STOBART

 
If I'm going abroad I want to fly, not thumb a lift.
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Greenandblack Posted on 11/01/2019 13:47

FLYBE rescued by VIRGIN and STOBART

 
The new airline will prioritise domestic routes to feed the Delta/Virgin flights from Heathrow and Manchester.

So a flight to Heathrow is feasible, but there will be a lot of contenders for Heathrow landing spots.
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myfooty Posted on 11/01/2019 14:01

FLYBE rescued by VIRGIN and STOBART

 
Virgin Atlantic are basically getting 30% Flybe, Stobart Air and Propius for next to nothing.

"The Boards of Flybe and Connect Airways, a company bringing together Virgin Atlantic Limited, Stobart Group and Cyrus Capital, are pleased to announce that they have reached agreement on the terms of a recommended cash offer for Flybe. Following which Connect Airways will acquire the entire issued, and to be issued, share capital of Flybe. Stobart Group will contribute Stobart Air and Propius, Stobartís aircraft leasing business into Connect Airways.

Concurrently with announcing the Acquisition, Cyrus, Stobart Group and Virgin Atlantic have committed to make available a £20 million bridge loan facility to support Flybe's ongoing working capital and operational requirements.

In addition, following completion of the Acquisition, Cyrus, Stobart Group and Virgin Atlantic are intending to provide up to £80 million of further funding to the Combined Group to invest in its business and support its growth, as well as a contribution of Stobart Air."

Link: https://www.virginatlantic.com/gb/en/media-centre/
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benboro1 Posted on 11/01/2019 14:15

FLYBE rescued by VIRGIN and STOBART

 
Not very good news for my Flybe Shares that I bought in November expecting a bidding war between Virgin & BA for those precious Heathrow landing slots, looks like I'm in it for the long haul with these.
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myfooty Posted on 11/01/2019 15:30

FLYBE rescued by VIRGIN and STOBART

 
It looks like another stitch up from the markets.

The offer is 1p a share and it is cash offer so you have very little say as to what happens with your shares as small share holder. You can't even forget about the shares and hope their come good in long term.

Long term shareholders must feel like they have just been robbed.
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myfooty Posted on 11/01/2019 15:36
Edited On: 11/01/2019 15:38
FLYBE rescued by VIRGIN and STOBART

 
"Flybe shares had tumbled to about 1p and is being bought for £2.2m by a consortium including Virgin Atlantic and Stobart Group.It will operate under the Virgin Atlantic brand, marking a return by Virgin to domestic flights, following a failed attempt five years ago."

The share closed on Thursday at 16.38p but tumbled because of this low bid.
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streetwise Posted on 11/01/2019 15:38

FLYBE rescued by VIRGIN and STOBART

 
I've flown with Flybe from Exeter Airport quite a few times. Was always surprised on their internal propeller flights. 🤔
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myfooty Posted on 11/01/2019 15:42

FLYBE rescued by VIRGIN and STOBART

 
The share holders would get more money asset stripping the company.
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