Stobart Group Ld Share Discussion Threads

[joe king1] 09/4/2020 12:14

Still trucking up. Nice

[joe king1] 08/4/2020 12:33

Price is trucking ahead.

[fenners66] 06/4/2020 09:29

Interim update
But (did I really read this correctly?) NO mention of Fly Be ?? !!

[paa65] 26/3/2020 09:15

The share price went for 39p at 16.29 yesterday to 49p in the closing auction.And is now 46p.Any thoughts on why it jumped so much?

[fenners66] 16/3/2020 22:27

"One insider said the approach from AviAlliance valued Southend at about £700m, although Stobart executives are said to believe it could be worth closer to £800m."

So how much will it be worth in a months time with zero cash flow ?

[gaffer73] 16/3/2020 22:26

That's why TOSCA were buying.

[gaffer73] 16/3/2020 22:25

Well thats an interesting development. Why no RNS?

[anotherguru] 16/3/2020 21:08

www.news.sky.com/story/stobart-lands-700m-approach-for-slice-of-southend-airport-11958629


Stobart lands £700m approach for slice of Southend Airport

[gaffer73] 12/3/2020 22:32

TOSCA must be hurting.

[fenners66] 11/3/2020 08:45

Why 50p shawzie ?

Would not be surprised to see large losses this year and a rescue rights issue, if airline downturn continues...

[sbb1x] 10/3/2020 18:23

Watching this fall for now

[shawzie] 10/3/2020 15:16

Perhaps 50p would be a reasonable entry point to invest in this company.

[bluemango] 09/3/2020 16:36

Wow. No words. (20% down on the day)

[fenners66] 07/3/2020 00:09

rH it says they still own 60% of it
So it is still a subsidiary and they can run it.
But if they want the other 40% back it should cost them.

[chisdeal] 05/3/2020 19:05

I hold shares in this and Sirius minerals. Not the best of weeks. Don't think I'll be offering any share tips to anyone

[rhatton] 05/3/2020 18:56

Can anyone tell me what happens to stobart air? I read that RNS. But is it still flying around on routes out of SEN and IOM currently? Also the Aer Lingus regional bit?

[fenners66] 05/3/2020 09:49

"However, the long-term prospects of that airport remain compelling."

oh yeah couldn't be better I'm sure....

So they have thrown away £50m or will they make an offer to buy back the 40% and have to throw more at it ?
I guess some of the consortium will be preferred creditors - but it does not read as Stobart are , so the irony that they may have to spend more real cash to fund the preferred creditors or banks just to get their own airline back !

As for impacts on Southend, we know airtraffic is dropping for the virus.
It may have a longer term effect and any capacity that frees up around the country will then have a knock on effect on Southend.
Will climate change activists jump on this and try and put more off flying ?

Either way the comments I made in 2018 proved to be the case.

Stobart logs and flybe going pear shaped. There's a lot that can go wrong in a few years.....

[roddyb] 05/3/2020 08:48

Impact at Southend isn’t priced in, hope we can attract more cargo...

[gaffer73] 05/3/2020 08:06

Already priced in?

[garycook] 05/3/2020 07:32

5 March 2020

STOBART GROUP LIMITED

('Stobart Group' or 'the Company')

Investment in Connect Airways

Stobart Group, the aviation, energy and civil engineering group, provides the following update in relation to its investment in Connect Airways.

Connect Airways is made up of a consortium of shareholders encompassing Cyrus Capital (40%), Virgin Atlantic (30%) and Stobart Group (30%) that received EU merger clearance to take control of the assets of Flybe Limited on 5 July 2019.

Flybe, a subsidiary within the Connect Airways group of companies, has today ceased trading and will no longer be operating its planned flight schedule. Stobart Group, alongside its consortium partners, Virgin Atlantic and Cyrus Capital, are deeply disappointed that Flybe has been unable to secure a viable basis for its continuing operations and has therefore entered an administration process. The consortium wishes to express its immense gratitude to the 2,400 people employed by Flybe for their commitment and energy over the past 12 months.

Stobart Group, Virgin Atlantic and Cyrus Capital formed the Connect Airways consortium which intervened in 2019 to prevent the collapse of Flybe and keep Europe's largest regional airline flying. Customers and staff have been at the front of the consortium's minds, and over the past 14 months Connect Airways has invested more than GBP135m to keep the airline flying for an extra year. This amount includes approximately GBP25m of the GBP30m committed in January 2020.

Stobart Group's initial investment was made up through the sale of Stobart Air and its aircraft leasing business, Propius. As a result, the non-cash balance sheet impact on Stobart Group is GBP43.3m and the additional GBP7m investment made in 2020. The value of both these investments will now be written down to GBPnil on its balance sheet. The Group has also foregone deferred interest that it would have benefitted from in future periods. Stobart Group had not expected to receive a contribution from Connect Airways until after FY 2020.

Unlike Flybe, Stobart Air is not a wholly owned subsidiary of Connect Airways. Stobart Air's Employee Benefit Trust (EBT) controls 60% of the voting rights and Connect Airways controls 40%. As such Stobart Air's ongoing ability to trade is not directly impacted by the decision to place Flybe Limited into administration.

Flybe had shown promising signs of a turnaround despite the delay to receiving merger control clearance from the European Commission for its acquisition . However, despite the best efforts of all, not least the Flybe people, the impact of COVID-19 on Flybe's trading means that the consortium can no longer commit to continued financial support.

As a result of this news, London Southend Airport will see a short-term impact, with Flybe having planned to operate ten routes from the airport from Spring of this year. However, the long-term prospects of that airport remain compelling.

[ammu12] 05/3/2020 07:27

Good short this ?

[gaffer73] 05/3/2020 06:43

Gone into administration.

[qantas] 05/3/2020 00:59

BBC News - Struggling airline Flybe 'set to collapse within hours'

[bluemango] 04/3/2020 23:56

That was an odd late afternoon rally.

Very relieved to have got out of these for a profit, several weeks ago when they suspended the dividend. Commiserations to shareholders, no-one could have foreseen coronavirus when the company committed to Flybe. Tomorrow probably won't be pleasant for Stobart.