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Pin to quick picksFlybe Group Share News (FLYB)

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Flybe flies higher on HSBC upgrade to 'buy'

Fri, 18th Nov 2016 09:16

(ShareCast News) - HSBC upgraded Flybe to 'buy' from 'reduce' and lifted the price target to 55p from 20p, saying the company is in a substantially better place that it previously thought.The bank said the group's first-half, reported earlier this month, was much better than it expected with operating profit and underlying pre-tax profit both roughly treble its estimates."We were pleasantly surprised by the yield performance of Flybe in H1, whilst our forecasts for both other revenues and costs undershot significantly," it said.In addition, HSBC said it was encouraged by Flybe's hedge portfolio. It noted the business is very exposed to the USD/GBP exchange rate and fuel price."We now know FY18 USD/GBP is 71% hedged at USD1.44 and FY18 fuel is 71% hedged at USD487/MT, both more than double the protection we previously anticipated."The bank said Flybe was "taking back control" and executive chairman Simon Laffin offered a credible presentation on how for the first time since the IPO, the group will have control over its capacity after the end of full-year 2017."Until now Flybe's capacity has been growing at a rate dictated by the previous management's necessary actions to reverse out of legacy aircraft orders. From the 80 aircraft fleet at FY17, Flybe will now be able to manage its fleet to 65 by FY20, or grow it to 84, depending on the market."At 1008 GMT, the shares were up 1.2% to 44p.
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4 Mar 2020 08:22

FlyBe ?100m bailout set to be 'rejected' - reports

(Sharecast News) - Flybe is facing potential collapse after its request for a ?100.0m taxpayer loan looked set to be rejected.

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17 Jan 2020 09:33

Flybe defends rescue as rivals attack deal

(Sharecast News) - The war of words over Flybe's rescue package escalated on Friday as the regional airline denied it had received favourable treatment and competitors threatened legal action.

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14 Jan 2020 23:27

Flybe averts collapse after govt, shareholders strike deal

(Sharecast News) - British regional carrier Flybe was saved from collapse on Tuesday night after the government and airline's shareholders reached a deal to keep it in the air.

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14 Jan 2020 09:28

UK govt considers air duty cut to save Flybe

(Sharecast News) - UK government officials were set to meet on Tuesday in an attempt to save regional air carrier Flybe from collapse with a potential cut in flying taxes on the table.

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28 May 2019 12:53

Flybe CEO Ourmieres-Widener to step down in July

(Sharecast News) - Flybe said on Tuesday that chief executive officer Christine Ourmieres-Widener will step down from the company on 15 July.

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8 Mar 2019 13:45

Connect Airways' Acquisition Of Flybe Gets Court Approval

LONDON (Alliance News) - Budget airline Flybe Group PLC on Friday said its acquisition by Connect Airways has been granted court approval.On Friday, shares in Flybe were down 3.8% at 0.97p

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4 Mar 2019 16:56

LONDON MARKET CLOSE: Downbeat UK Construction Data Helps FTSE Climb

LONDON (Alliance News) - The FTSE 100 started the week on a positive note, ending safely in the green on Monday as the pound fell following data which showed the UK construction sector shrank for

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4 Mar 2019 15:58

TOP NEWS: Flybe Shareholders Approve Connect Airways Sale (ALLISS)

LONDON (Alliance News) - Flybe Group PLC on Monday said that a majority of its shareholders voted in favour of the company's acquisition by Connect Airways Ltd.At a general meeting held

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25 Feb 2019 16:05

UK Shareholder Meetings Calendar - Next 7 Days

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22 Feb 2019 17:24

Flybe Reiterates Support For Chair Laffin Ahead Of General Meeting

LONDON (Alliance News) - Flybe Group PLC late Friday said it remains fully supportive of Chair Simon Laffin as a shareholder meeting to oust him from the board approaches.At the beginning a

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22 Feb 2019 16:52

LONDON MARKET CLOSE: Stocks Finish Higher As Trade Talks Gain Momentum

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22 Feb 2019 12:29

LONDON MARKET MIDDAY: Miners Push FTSE 100 Up As Dairy Crest Leads 250

LONDON (Alliance News) - London share prices were rising at midday, with the mining sector driving the blue-chip index higher, amid investor optimism as a fresh round of US-China trade talks was a

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22 Feb 2019 10:35

WINNERS & LOSERS SUMMARY: Dairy Crest In Demand As Saputo Swoops

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 250 - WINNERS----------Dairy up in

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22 Feb 2019 09:46

Flybe Shareholders Urged To Back Acquisition Or Get Nothing For Shares

LONDON (Alliance News) - Flybe Group PLC on Friday said all of its assets and operations have now been sold to Connect Airways Ltd, although shareholder approval is still needed to complete the in

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22 Feb 2019 08:46

LONDON MARKET OPEN: Dairy Crest Climbs 13% As Agrees To Saputo Offer

LONDON (Alliance News) - Stock prices in London were lacking in direction early Friday, hovering around the neutral mark overall, as individual stocks moved on company announcement, most Dairy an

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