Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yep easyp, but I wasn’t acknowledging it due it then duly crashing! Looking OK leading into AGM update
Also note raft of new appointments at STOB this morning....
Dinoken....bribing the press to resolve PR issues, perish the thought! The problem with the news media now is the extremely low budgets they have along with a need to fill column inches 24 hours a day. Combine that with a hack wanting to make a name for themselves as the consumers friend/fearless investigative reporter etc means any tosh gets published. And don’t forget for example that laudable publication the Daily Mail’s editor giving the raison d’etre for his paper as being to infuriate its readers. That sentiment pervades many other rags too. So just see these sort of articles for what they are, just filling space cheaply and with little journalistic effort or talent required.
I’ll get if my hobby horse now
It happens. Newspapers love it as it gives them a “horror story” article at zero cost, fills their pages and makes the subject of the story feel better.
Sorry for the people involved, but deal with it and take some responsibility rather than adopting benefit culture attitude. Travel does not always have a trouble free outcome, prepare for that and perhaps get some insurance so that you can take unilateral action if the options offered by the travel firm concerns are not to your liking.
toastal, my comment was tongue in cheek, as I also don’t think it viable, but stranger things have happened....
My money is still on Stobart coming back for Flybe and perhaps then looking at Cityjet/Nostrum to create really substantial regional group
This merger will create a group concentrating on regional contract flying/franchise operations for AF, Iberia and SAS. There are very small levels of own brand flying, just a couple of Cityjet routes from Dublin and London City. From memory Nostrum was owned by a Spanish family with big interests in construction which were heavily hit by the woes in that industry in Spain, hence little investment in Nostrum and eventually finding this exit route. Pat Byrne seems to be hoovering up loss making airlines, having previously bought Cityjet and Cimber, don't know where the money is coming from.
Whether Flybe would fit with this operation or whether there is anyone with sufficient cash to enable the transaction is a moot point. Flybe's brand would be a big asset, as would their infrastructure, web presence and GDS access. Using Flybe as the central hub could save on accounting, management, HR and marketing functions to some extent, but there is a big difference in franchise/contract flying operations to a fully fledged airline operating scheduled services under its own brand. I can't see a coherent vision of what the combined entity would look like and what its strategy would be, which probably means it will happen!!
Toastal, i would like to believe that, but don’t think price suppression is realistic. Still think STOB will be back though
Thought the update was generally positive but clarity on costs would be helpful. I am confused but we will have to wait for the H1 announcement in November to see how the conflicting reported and constant currency cost increases translate into profit. Heartening that COW hints at the non repetition of some of last years one off costs, but quantification is needed.
81% load factor in Q1 is phenomenal for a regional airline in what is not the busiest period.
Now three females on the Board in key positions, CEO, SID and Audit Chair, surely a record for LSE Plc?
Maybe, but freight capacity on Flybe fleet is trivial, no capacity for containerised freight on any of fleet.....and then there is the passenger bags.... COO appointment concerns me
Oh dear. Not impressed with this appointment. Combination of ex RAF and ex NED looks lethal to me. Undoubted leadership but really question cost control and commercial experience. Also ex RAF generally stick to their own so expect more ex RAF managerial appointees.
See that Wally is back
No, BA paid Flybe £140m to take the heavily loss making BA Connect away, and took a 15% shareholding in the then larger Flybe business which they sold in 2013 I think. Can’t see the attraction to BA now.....
ST this morning with profile of Warwick Brady ( seems well qualified and a likeable guy) plus story about M and G wanting Alan Leighton as temporary Chairman plus Philip Day as Non Exec. Soap Opera continues. Big week this week, with AGM in Guernsey on Friday. Pity I am en route London on Friday as it might have been worth buying a couple of shares and popping over to it from Jersey. Sounds like it’s going to be epic! Once Board sorted out Stobart looks to have real potential as an investment. Probably more in it for shareholders under current Board.....either way I reckon Flybe will be in play by end September.
Looks like you may be right Toastal. To get anything like the scale Brady is talking about Flybe has to feature as an acquisition. Interesting to note in Flybe Chairman’s statement that there had been bid discussions by more than one party, and there was a price put on the table by Stobart which did not meet Board or advisers valuation. Given Tinklers antics whereby he was looking for a 30% stake in Flybe for his consortium for free within three months then the bid price must have been low, as I guess the Stobart Capital consortium would have had to make a turn on the investment within parameters that Stobart Group ultimately found acceptable. Very confusing way to conduct a takeover, but Brady’s sentiments in the video posted by easyp give credence to a return by Stobart Group once Tinkler is finallly ousted and the Chairman confirmed as Ferguson, at the AGM next month. Going to be an interesting few months especially if Flybe disclose some decent metrics at the AGM in September and H1 results in early November. Could be a question of who blinks first as Stobart may not be the only game in town, albeit seemingly the best fit.
Thanks easyp, I had a look at this and the Stobart accounts. Very ambitious growth plans including 1.4bn revenue in aviation by 2022. Looks to me like Stobart are going to consolidate UK regional aviation.....Flybe, Cityjey and Loganair plus Stobart just about gets this revenue, and driven by cashing in on stake in Eddie Stobart. Southend, Carlisle and Stobart Air are not going to get close to this revenue without acquisitions. They can't re bid for Flybe until 22.9.18. Is it coincidence Flybe AG M is now in September allowing for a trading update then, enabling a bid? Suspiciously convenient.
LOL northam! Looks very familiar content....
Looks like there is a new member who may be a migrant from LSE......see what you think
And a Non Exec bought 63k shares....overt confidence?
Recovered today. As both toastal and easyp say below this has been oversold. Forward sales looking strong, it’s a way off but I look forward to next update at Septembers AGM, it should be a big improvement over last year.
Agreed all round.
Not a lot of volume really. It will come back