Newspaper coverage18 Nov 2018 14:04
The share-price collapse has also cut the value of stock options awarded to the chief executive by more than £1.2m. Chief executive Christine Ourmières-Widener has 220,000 shares, but has been awarded options for a total of 3.8m on three separate occasions. When they were awarded, Flybe’s share price was around 40p and the grants were worth £1.56m, but at close of business on Friday the shares were at 8.9p, representing a total value of £335,000. The shares are not due to vest until 2020 and 2021. Ms Ourmières-Widener declined to comment. Flybe’s pre-tax profit fell 54 per cent to £7.4m in the first six months to the end of September, compared with the prior year. Revenue fell 2.4 per cent to £409.2m and net debt grew nearly 40 per cent to £82.1m. The company now has an enterprise value of £104m.