Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Am in South if France on jollies, and have only just caught up with this. What a mess! And what an incredible RNS today, and yesterday! Once this is sorted out and Tinkler and his mates are gone then the then properly managed Stobart might consider a proper bid for Flybe. Amazing that Flybe Board kept so quiet during the (non) bid in March....surely they must have got wind of the goings on with Tinkler. Onwards to the final results, and most importantly the forward sales data....
Don’t see the link with Stobart, they signed a deal with RYR to operate from Southend, not sure that can explain FLYB drop, even only 1.3p at close. Good for Stobart management in showing some action pre what will be contentious AGM in early July
Sunday papers show Board are suing Tinkler for undue profit on related party transactions, he is countersuing for defamation, and claims 80% of managers support removal of current Chairman Ferguson. All of life is here....
As long as it’s not too time consuming or an ego trip or lining up a job for post Flybe.... Still don’t think it’s a good idea, shows lack of focus
Not sure how this is going to help Flybe in implementing its business plan. I may be harsh but it feels like a distraction.
Hi gino. Thanks for bringing this up. I can understand the initial big picture logic for Accor. It’s also a French company and the AF thing would strike a chord. Vertical integration in the travel sector has been out of fashion for a while, with big tour operators getting out of owning hotels etc. The problem for Accor is twofold, first how do they manage the disaster that is AF industrial relations, an absolute nightmare, and secondly how do they harness the benefits of vertical integaration of Accor and AF at a sensible overall cost whilst not alienating their other business partners and customers. I really rate Accor management and product, Sofitel in particular is my favourite upmarket chain hotel group Am afraid I still don’t see where Flybe fits in this, not an aggressive comment, just can’t see it. Maybe it’s me....
It gets even worse at Stobart https://news.sky.com/story/amp/billionaire-philip-day-asked-to-head-warring-stobart-11392237?__twitter_impression=true This is incredible.....never been on a public company board and with a particular reputation in business, and Woodford is backing him. Stobart is going to be even more interesting to follow in the next few weeks....
Cash at lowest in November/December as it’s a quiet time, apart from a week or so at Christmas and before the January/February booking season for Spring/Summer. Also the bankers get nervous as they are most exposed at that time with least security. Have seen some, non aviation sector, but cyclical, companies really struggle at end of year to keep their banks happy....may force Norwegian’s hand to accept a deal with IAG. Not helped by O’Leary making his usual doom and gloom comments about Norwegian finances.
I’ve flown Norwegian a few times to Scandinavia from Gatwick and always been impressed. My son has done LAX and JFK recently to see his US girlfriend and he thought they were excellent in Premium but struggled with the leg room on 7 hours plus in Economy. He particularly liked the “fresh air” in the 787. I think IAG will end up buying Norwegian, around the end of the year when their cash position is at its weakest. It’s clearly a business with very stretched finances but with decent pilots, a huge 787 order book, slots at LGW and elsewhere and a disruptive business model on the North Atlantic routes that will hit IAG hard if it continues I think it makes long term sense. Sounds like the Norwegian hostesses will fit right in with BA/Iberia who have failed to impress me on several European flights I have made this year...Swiss have been consistently excellent crew, aircraft and punctuality on my recent trips.
Very good JustSayin! I’ll leave it a while as I think WW is learning Norwegian and how to get out of usurous operating leases on 787 Dreamliner at present ! Stobart continues to amuse, you have probably seen from today’s RNS that the AGM originally set for 28.6.18. has been deferred for “ ....a slightly later date which will be confirmed shortly” . I’ve never seen that before, shambolic and embarrassing. Also much muttering on the Stobart chat site re Tinkler and Woodford. Pity our friend Wally and his alter egos aren’t providing the usual helpful contributions they make on the Flybe site onto the Stobart site, the shares would be tanking.....
I know where he works...!
The RNS said the remaining Board were behind Ferguson, do presume that includes Brady. I’m aware IAG bought Aer Lingus a few years ago, and would see Flybe as helping to fulfill IAG use of Lingus as a transatlantic hub operation from Dublin as alternative to London
Hi JustSayin, interesting surmise. But as you intimate it's speculation. If Tinkler wins then Brady would in my view go as he has pledged his support, along with the rest of the Board, to Ferguson. I view Brady as the big advocate of Aviation at Stobart, and most importantly the one with real experience from easyJet. On the other hand the group strategy was formulated jointly by Brady and Tinkler......so maybe after appropriate grovelling Brady might stay! Who knows?! Not sure I can see a larger airline being attracted to Flybe.....Flybe has little London presence which is where the real money is made in aviation so I can't see an obvious strategic fit, other than maybe Aer Lingus...... We'll see
Stobart AGM not until 28.6.18. so this should provide plenty of sport for a few weeks. Credibility as a bidder now shot, will have to be a large cash offer to get any traction if they ever return to Flybe
And now Cenkos have quit as Stobart broker! Shambolic. Interesting to see what happens next! Who knows what would have happened if the (NOT) bid had proceeded
Having now read yesterday’s RNS from Stobart it’s pretty clear that Tinkler has been disrupting Stobart for some time, and there was a particular reference to him being involved in a potential related party transaction as part of the (NOT) bid for Flybe. Speculation only from the outside, but this must have affected the process for Stobart. Interestingly we have Invesco in one corner supporting the Board and Neil Woodford in the other supporting Tinkler. Not sure what it means for Flybe, but quite amusing to watch and see what develops.
You’re right JustSayin, Stobart will fix it, good headlines for the scribblers for a few days and pointless speculation over Ferguson going, he won’t. Wonder if the dispute, which has clearly been rumbling for a while, had any impact on the (NOT) bid? Maybe if Tinkler gets the shove then a clearer approach may be made. At the moment to my mind Stobart are an obvious buyer, but as time passes and Flybe’s situation continues to improve you may be right and someone bigger may come along. So, short term Stobart need to stump up or shut up. Continuing modest upward momentum in SP is heartening....for some.
What did you say that got such a speedy delete?! Don't think he knows his own identity so doubt you will find it in a hurry....
Four postings, two deletions...is this a record?