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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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30 Jan 2017 07:43

Flybe Q3 'solid', sees slow start to Q4

(ShareCast News) - Flybe said on Monday that it delivered a solid third quarter in tough trading conditions, but the fourth quarter has kicked off slowly due to "uncertain" customer confidence and poor weather. In the third quarter, it saw passenger growth of 13.5% versus 5.7% in the first half, whi

23 Jan 2017 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

20 Dec 2016 08:50

Flybe appoints former CityJet boss as CEO, announces new routes

(ShareCast News) - Budget airline Flybe has appointed former CityJet boss Christine Ourmieres-Widener as its chief executive officer with effect from 16 January. Ourmieres-Widener started her career in the maintenance department of Air France and between 2010 and 2015 she was the CEO of CityJet. Sin

18 Nov 2016 13:27

Broker tips: Premier Oil, Flybe, St James's Place

(ShareCast News) - Jefferies upgraded Premier Oil to 'buy' from 'hold', keeping the price target at 88p, as it reckons the company's full debt refinancing will go through. Premier said on Thursday that was in the final stages of negotiations with its banks and private bondholders on its refinancing.

10 Nov 2016 17:13

DIRECTOR DEALINGS SUMMARY: Flybe Chairman Ups Stake By 66%

9 Nov 2016 09:09

Flybe H1 profit down but revenue and passenger numbers rise

(ShareCast News) - Flybe reported a drop in pre-tax profit in the six months to the end of September amid challenging markets, but revenue and passenger numbers rose. Pre-tax profit declined 15.9% to £7m, taking a hit from the fall in the value of the pound which increased the cost of US dollar loan

9 Nov 2016 07:57

Britain's Flybe cautions Brexit vote could hurt aviation industry

Nov 9 (Reuters) - British regional airline Flybe Group Plc cautioned that the country's vote to leave the European Union could affect the aviation industry "operationally and commercially" and posed short-term challenges because of the pound's sharp slide. Flybe, which connects British reg

26 Oct 2016 11:02

Flybe chief executive Hammad fires ejector seat

(ShareCast News) - Flybe chief executive Saad Hammad has parted company from the beleaguered regional airline with its shares trading not far from all-time lows. Chairman Simon Laffin has stepped in to an executive role as the ejector seat has been pressed for Hammed, who started at the company in A

27 Jul 2016 15:38

Flybe reports sustained growth despite tough conditions

(ShareCast News) - Flybe, the largest regional airline in Europe, announced on Wednesday a good start to the year despite challenging conditions for the industry. Chief executive Saad Hammad said: "Flybe continues to make progress despite significant external challenges. We delivered a solid quarte

20 Jul 2016 15:07

UK Shareholder Meetings Calendar - Next 7 Days

20 Jul 2016 15:06

UK Earnings, Trading Statements Calendar - Next 7 Days

14 Jul 2016 07:59

Flybe Fulfils Contract Conditions With Nordic Aviation Capital

7 Jul 2016 08:36

BROKER RATINGS SUMMARY: Buy Wetherspoons, Sell Marston's - Citigroup

27 Jun 2016 08:50

BUZZ-European travel stocks stumble post-Brexit

** Shares in European travel stocks fall after several warn that Britain's vote to leave EU will hit profits ** Stoxx 600 Travel and Leisure Index among worst performing in Europe, down 4 pct, and only 2 points shy of hitting its lowest since Dec. 2014 ** EasyJet worst performer by fa

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