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Who here honestly believes that if FlyBE are allowed to retain the 100 million as an interest free or low interest "loan" or deferral that the Treasury will ever see that money again. It'll be syphoned off. they won't make anywhere close to that in profits over the next 3 to 4 years.

correction: not shareholder, stakeholder

Where is the evidence they put any meaningful amount of money in it. They paid 2.2 to 2.8 million at the start and they got the Credit Card companies to stop holding the revenue from Ticket sales.

They appear to be either looking for a digout from government or are preparing for a prepack to screw over their creditors and employees...either would do.
They were chosen and Tinkler's offer was rejected and winding it up was rejected because they led management to be that other shareholders would have the best outcome with them.
Show me that they've burnt through the 100M or even 50M of money they promised.
They appear to be unrepentant scoundrels to me.

https://www.pprune.org/airlines-airports-routes/599822-flybe-9-a-108.html

SAS dropping FlyBE.

according to this SAS can exit the contract with FlyBE because ownership is transferred and that is what they are now doing.

https://www.ttgmedia.com/news/flybe-boss-christine-ourmieres-widener-to-stand-down-in-july-18150

C OW is leaving in July.
As expected those who have taken possession of the company are replacing her as soon as they can.

Plaintiff is Flybe represented by the BoD?
Defendant is? Government? Credit Card companies?

If a credit card is allowed retain funds then they'd always have the motivation to retain funds and use those funds for other things which earn money for them.

four weeks later the Irish ombudsman replies to me telling me to contact AIB credit card processing company with regard to my complaint as to why the Credit Card company was able to withhold credit card payments and drive FlyBe in to the arms of the consortium. What sort of satisfaction do they expect me to get from AIB credit card processing services; an admission of guilt?That is the Irish Regulator doing what the Irish regulator does; not regulating behaviour of Financial Services companies.

I agree that once FlyBE is no longer the FlyBE we once knew that the Low Cost Carriers will show it no mercy.
Willie Walsh hasn't much respect for the management team which are, despite everything, still there and will not like Stobart getting a bit too big for its britches. No quarter will be given.

If I were the Consortium I'd pay the board members and staff in FlyBe who enabled this their thirty pieces of silver as agreed and put them on gardening leave for the remainder of their contracts as I wouldn't want them anywhere near any decisions regarding the daily running of the airline.

If they were like me then they were private investors and couldn't actually submit a vote.
I assume the institutional investors have been advised by legal counsel of their obligation to "mitigate their loss" if they wish to pursue legal options afterward.

latest half year report regarding fuel says:
CPS (including fuel) increased by 5.9% from £59.47 in H1 2017/18 to £62.96 and on a constant currency
basis1 increased by 2.6%.
CPS (excluding fuel) increased by 4.0% from £51.97 to £54.06 and on a constant currency basis1
decreased by 0.1%.

That is not enough to sink the company and fuel costs as a portion of seat cost was decreasing year by year before this.
https://www.flybeplc.com/application/files/8915/3253/3125/Flybe_Annual_Report_2017-18.pdf

I don't accept that increased fuel prices, credit card killing working capital and pension costs sunk FlyBE. There is more to this than what they are attributing blame. they are just using reasons which sound plausible and which they don't expect outsiders to challenge.

She says "Most of our bookings for our flights are Customer booked less than 3 weeks before the flight."
I don't understand how Credit Card companies could have brought down the company. They were holding credit card payments for only 3 weeks. They have no reason not to release the cash after that.

She also blames fuel prices and if this were a company with a lot of Jet airplanes but this is company which runs mostly Bombardier Q400s on short routes where the planes are on the ground not burning fuel a lot of the time.
After the ATR42/72 the Q400 is about the most economical plane in the sky burning a fraction of the fuel that a modern 737 or A320 woud be burning although CASM would be near similar.

She mentions 1300 pensioners but not 1300 pensioners were dependent on the company continue running, only a tiny fraction of them are in that old pension scheme.
If the company was loosing money then the wage bill should have been cut and people let go but instead the shareholders were wiped out.

I complained to FCA too. I hope all the Directors get disqualified and if they do then they can't collect their payments for working in the company which bought the company they sold.

"it seems as though nobody much picked up on it's implication"
and Dr. Shipman's patients didn't know they were being treated by the man how would come to be known as Dr. Death

Please stop posting while stoned.

You don't get to decide that. The major shareholders have no market now for their shares so they can afford to wait around for an EGM and to appoint a Director who will investigate the curious circumstances of the sale.

some of us aren't looking at the share price today but rather at the long term prospects of the share we invested in.

Reso, your view of what is "not something to write home about" is something most would find it hard to agree with.
It is an offer which capitalizes FlyBe while not forcibly acquiring the shareholding of the existing investors at a derisible 1p per share.

The Board of Directors appear to want the counter bidder to deposit money before they entertain their offer and to be honest with how the Credit Card processing companies have behaved that seems prudent.Either they get money by the end of the week or the sale to the Consortium goes through.

One has to ask how can a limited number of Credit card processors withhold 50 million of revenue at a quiet time of year for a company which has turnover of only about 750m and of which somewhere under 75% is credit card payments.

it looks like FlyBE were being steered in to distress by an unseen hand.

Here is the Telegraph report again
https://webcache.googleusercontent.com/search?q=cache:eD-gIOU6YvgJ:https://www.telegraph.co.uk/business/2019/02/10/penny-share-flybe-deal-much-steal/+&cd=1&hl=en&ct=clnk&gl=de