Flybe Share Discussion Threads

[mhin2] 29/1/2019 16:31

coscos, Hoskings letter is only based on the limited information they have, the conspiracy goes much deeper, but start with the known, and then delve...access to records, diaries etc would be fantastic

[coscos] 29/1/2019 16:27

The Flybe board are up the creek without a paddle. Wait for further news. Think an injunction isn't far off here.

[mhin2] 29/1/2019 16:23

surprised stob is holding up so well, could be some serious litigation coming their way

[mhin2] 29/1/2019 16:22

seems as if stob and virgin may have exacerbated the problem with the card acquirers in breach of Non-disclosure agreement

[coscos] 29/1/2019 16:21

Good to see in the letter the point I mentioned earlier regarding Virgin and Stobart sharing info after signing NDA's, against takeover rules and completely disregarded by the Flybe Board.Time for the FCA and MMC to now act.

[mhin2] 29/1/2019 16:20

well worth reading once/twice, possibly 3 times

[mhin2] 29/1/2019 15:59

who is going to short stobart?

[mhin2] 29/1/2019 15:58

Virgin and stobard having acquired private and confidential information approached lessors, banks and other flybe creditors...shocking!

Virgin and stobard colluded in breach of the confidentiality undertakings


so the surface information is coming out/released...

brilliant!

[mhin2] 29/1/2019 15:48

hoskings letter, from LSE Board

[toonmag50] 29/1/2019 15:44

For what it's worth, I have completed my personal report to the serious fraud squad, in relation to the board of directors and their acceptance of the consortiuns recent offer, and their general behaviour following the failed merger talks with Stobart last year.
I suggest as many other shareholders do the same, as the process is quite straightforward.

[mhin2] 29/1/2019 15:23

The consortium have paid to release cash...how much cash does flybe have, and how much is released/due to be released by the card acquirers?

Let Hoskings and Kohn flush out what has happened here, hopefully the CONsortium will pay out more, this time in damages

[loganair] 29/1/2019 15:21

The Consortium have basically paid £20mln (9p per share) for the assets of Flybe with a further several million being put in to Flybe's pension deficit.

The Consortium have already paid the first £10mln (4.5p per share) to keep Flybe in the air for the next month.

[mhin2] 29/1/2019 15:19

stob down again...lost 10p in less than a week...not far from the cyrus buy in price

[mhin2] 29/1/2019 14:46

The Hoskings challenge is what is holding up Flybe, why waste money on a shell- nobody will be buying for that. In fact, if Hoskings were not going to pursue, they would be selling (and they might be!).

Like I said, I think the asset sale(s) is (are) highly questionable...and I would imagine one of the many issues that would be brought up in an injunction/courtroom battle, or else damages would be sought...the Flybe share price otherwise does not make sense, unless the CONsortium raise their offer or offer Flybe shareholders a stake, in all these cases Stob declines, as it is starting to do.

[loganair] 29/1/2019 14:34

The only thing that Hoskin's and co can vote on is the sale of the holding company and Flybe.com and not the transfer of assets over to Connect Airways which I understand have already been transfered over.

It seems the most Hoskin's can vote on is to stop Connect Airways using the Flybe name. Does that matter, not really as the new company is going to trade under the Virgin brand.

[mhin2] 29/1/2019 14:11

Lloydc, I imagine there will be a lot of people ready to look very carefully and very closely...so if figures were misreported/optimistically delivered last time (as a few have suggested above), this time the Finance people will need to be very careful in trying to provide justification for the Boards actions.

[lloydc] 29/1/2019 14:04

Results tomorrow so we will see how bad things were /are

[mhin2] 29/1/2019 13:49

Of course now that Hoskings has come out in public, should they not make any gain they will suffer severe reputational damage ...after all would you trust them to manage your money...there are going to be winners and losers, unless they can construct a win-win situation. I think the final outcome is far less certain than some people have been making out

[mhin2] 29/1/2019 13:43

Logan, I have been here before, am now out...and its to risky to be in, but I am finding the whole think very interesting...following with interest and enthusiasm. Will probably go and watch the brexit debates shortly...also fascinating on that front.

[loganair] 29/1/2019 13:40

I've also been there, the unpleasant emotions and feelings of taking a large financial loss are too much to take so the mind clouds out the rational reasoning for why the company ones invested in has gone bang to the wall.

[mhin2] 29/1/2019 13:37

anyway lets leave it to accountants (and hopefully forensic accountants) and lawyers led by Hoskings and Kohn.

[mhin2] 29/1/2019 13:32

...stob share price down again...

[mhin2] 29/1/2019 13:31

Logan, could you please provide a link where "Flybe were reporting they were losing £7,000 per hour"...I thought it was one reporter, and some (not all) others carried it.

I thought the cash injection was backing for credit card acquirers, rather than operating capital per se, which I presume would have come from the release of flybe money held back by the card acquirers

[loganair] 29/1/2019 13:29

mhn2 - In late November, Flybe were reporting they were losing £7,000 per hour. This is a loss of around £160,000 per day or £5mln per month.

Therefore the £10mln Flybe raised covered their losses for mid November to Mid January. Mid Janaury Connect Airways put in an emergency cash injection of £10mln which will keep Flybe a float until they are finally taken over 22nd February.