Member Info for Starance

@Julian38 People can make up their own minds, like all of us. The route this board, or that COW, has taken... is beyond what anyone had said on these boards or anywhere. It's money, but it's the principle of it.

I agree with FTCaller, sell. However, not FTCaller seen this coming - no one. It's over... That COW has swindled the shareholders.

@Julian38, It's not taught any important lessons... if anyone wants justice, seek it out personally with those crooks - human nature.

It is... I hope for the boards sake, I never come across any of them, as that'll be it. I'm out this morning with a big loss, unbelievable change of events. Regardless of all the jargon, my satisfaction will be when those members of the board are six feet under.

Sorry but he turned Stobart into a billion pound company then the current management brought it down. He had plans to turn it into a £2bn company... to be honest, I don't see him going back - not unless those backstabbers are ousted.

Perhaps Mr Tinkler wants to be CEO of Flybe and turn this company around like he did with Stobart. Who wants to gamble on that?

Indeed... but, "...so it wasnt in the position that they will run out of cash in 12 months which looks like it is the case" It could be, looks to be but all we have to on is the board (which doesn't deserve an ounce of trust). I believe there is more to this.

calamari, well... it's on my mind, then surely this opens up legal routes with the board.

@mick-b Why are you so confident those major shareholders are going to vote this through?

Flybe have met it's debt obligations, and restructured (assuming for the best?) with cash in the bank and secured (more due to the acquirers). Why is it over again? And, don't tell us the board had exhausted all means of obtaining funds - but certainly looks like that with a £20m loan from sharks!

HeresHopin, yes... net debt. With all debt obligations met according to the RNS.

@gustavio, Flybe is not in anyway controlled by Stobart/Virgin, if it is... then there is gross misconduct there. As I stated previously, according to the board... they have planned out 12 months from September so... and conditions have changed favourably for Flybe. But, the board have taken some drastic measures on the contrary to the information provided to the market.

Still long way off from Gold Oil days ;) but here's hoping.

@jony5, well... I'm going to believe that the figures published in the official RNS isn't 'bullshit'. Board/Consortium are looking to steal this business from underneath everyone's feet. If the board have somehow burned through 10's of millions in the space of 2 months - then what the hell?

@Oresterity... I don't know, I'd imagine it's increased... however, sales have been made and they had a sizeable balance, with restricted cash amounts of around £17m due to the acquirers etc... Importantly, judging by that report... Flybe had planned 12 months ahead from September... so it's a joke in my opinion, complete joke or lies.

This is something to consider;

Flybe had total cash of £70.6m, and free cash of £54.2m, at 30th September 2018 and has met all its operating lease commitments and debt repayments as they have fallen due during the period. The directors have prepared a detailed trading budget and cash flow forecast for a period which covers at least 12 months from the date of this report.

@Oresterity debt was £82.1m September 30th.

Well, that makes sense however, depending on current political climate etc it could be an amount upto what you stated. So, it could be a lot less required and a board with experience and options to turn this around.

I don't see that kind of money being offered but... a no confidence vote in this board is possible, and is Mr Tinkler looking to get in on Flybe (Who knows?) but it's all a possibility. Ironically, the conditions that brought Flybe to it's 'for sale' announcement have become favourable again.

@Taverham, I'm curious as to when they did withhold payments, god knows what the figures are but would be interesting to find out. As you would likely expect, many of these people are in cahoots with one another... I'm aware FlyBe paid them £9.4m as security at the end of September... what changed?

Despite what some people have said, with regards to it being a done deal - all over etc It's not.

To those that have accepted their losses, good luck I guess. However, I'll wait and see what the major shareholders do... as so far, zero inclination.

Regardless of your knowledge, based on all the information prior to this surreal offer, information has been withheld from the market.

Now, since the formation of this 'Connect Airways' was this when the acquirer begun to withhold funds from FlyBe? If so, what did the board do to resolve this? With these discussions between the board, Virgin/Stobart & Cyrus Capital Partners was this 'fund problem' relevant then to these suitors, if so... why not to the rest of us?

In to the end I guess.