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Mayfield - per H1 results: "As at 12th November 2018, Flybe had purchased 90.0% of its anticipated fuel requirements [for the following 12 months]". So nothing hedged beyond 12.11.19.

0 = a number

1 = a number

JH77 - any potential bidder with access to Flybe's books is privy to price sensitive information probably, and would not be allowed to buy in the market, so I'm not surprised potential bidders have not started to stakebuild.

In any case, imagine what a purchase of just a few shares by, say, IAG - which would need to be reported by RNS - would do to the SP!

Calarmari, the exact wording of the original Flybe RNS on 14/11/18 was as follows:

The Company confirms that, at the time of this announcement, it is in discussions with a number of strategic operators about a potential sale of the Company.

"a number of" = "several" in my book

T2R, there are others officially looking, it's just that we don't know their identities - Flybe stated at the outset that there are several (unnamed) interested parties, a statement which they have never retracted.

Thanks Mayfield.

By the way, if anyone has dropped out of the race, there won't be an RNS to tell us that, because there was never an RNS announcing their interest in the first place. As you say, it's amazing how nothing appears to have leaked.

Mayfield - yes, all we really know is that there are several potential bidders, one of whom is Virgin.

But from the point of view of a bidder, wouldn't you want to get your bid in well before 17.1.19, ie before Flybe has the chance to firm up on its 'go it alone' strategy? The bidder would also probably prefer to be the one in control of further asset sales, which in any case will become less urgent or even unnecessary if there is a takeover.

My general feeling is that all parties will be feeling some pressure to finalise their positions by mid-January, which will be 2 months after the announcement of the sale process. Some might say bidders will want to wait until after the Brexit vote in Parliament in the middle of January, but taking a long term view, as bidders will no doubt be doing, whatever happens people are still going to be flying, and in ever-increasing numbers, so I can't see why they would delay for that.

If previous issues of equity are anything to go by, there won't be any further RNSs on this matter.

So it's full steam ahead - again. As we enter Q4, I wonder how Q3 trading has been?

...that a bid of 80p had been accepted by the BOD - from Virgin I think (or am I mixing up two different dreams?).

It's either my infallible Pisces intuition at work, an excess of Xmas booze - or this unending Flybe pantomime is starting to get to me.

With the stock market generally so weak at the moment, it's difficult to be bullish about anything.

But after Trak's recent savage drop and with the Microlise deal now done, I can see a rerating to the upper 20's at least, as even the perennial naysayers quietly pile in.

We await further announcements with interest...

LetsTry - your post makes sense if Virgin are the only potential bidder. However, they aren't the only interested party, which muddies the waters when trying to interpret their RNS.

All I would say is that It does not preclude an imminent bid - but by someone else, eg IAG or Stobart.

Today - normal hours
Monday (Xmas eve) - market closes 12.30pm
Xmas day - closed
Boxing day - closed

You can have endless fun reading between the lines of these terse RNSs, eg maybe Virgin are afraid Flybe is about to announce a deal with IAG, and Virgin has been panicked into sending out a message to the market/ government/ regulators...that they are still in the frame to offer a (better) alternative...

Just seems to be an acknowledgement by Virgin that the market can expect to have had further news by now. I don't think it's a negotiating ploy.

But to be still interested a month after their first confirmation of interest is a good sign that something will come of the discussions.

Stobart made an offer(s) within weeks in March, and without full due diligence.

So offers may well have already been made, but there'll be no public announcement till the BOD are ready to recommend one to the shareholders.

My feeling is that it'll be in the new year, but these things often happen when you least expect them...eg tomorrow!? I doubt it, but who knows.

toastal, how do you know there isn't a bidding war going on as we speak? We won't know until an agreed offer has been announced.

Anyway, by seeking exemption from the 28 day Takeover Code deadline, Flybe presumably did not expect to do a deal before around now, or with Christmas in the way, the new year.

As far the best time to make a bid, that's normally before the economy and the target get back on their feet. If certain politicians and media were more positive about the UK - which would help the £, and therefore Flybe - that could be sooner rather than later.

The govt could, and should given its increasingly important role in easing road and rail congestion, also do its bit for Flybe by reforming APD, but with all the current shambolic political indecision, I'm not holding my breath.

...or have all parties agreed to have an early Christmas break and reconvene in the new year?

Depends where they've got to, I suppose. If they are ready to announce, they may as well do so.

If not, the point made in the Mail article about the Flybe business now becoming more valuable may encourage the bidders to get a move on.

Flybe's COO was definitely replaced in October by one of the NEDs.

Redrichmond's post is headed "COO.....", and says he is leaving. I assumed this referred to someone at Virgin, in view of what I've just said.

But the article actually refers to "CCO" Roy Kinnear, who is indeed the CCO for Flybe, and has been with the company for less than a year. I doubt that he's moving on.

The COO mentioned in the article is Virgin's COO, not Flybe's.

Coincidentally, Flybe's COO was replaced in October.