Flybe-9
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There has been a lot of talk suggesting that the failure of FlyBe Mk1 was due to COVID.
https://en.wikipedia.org/wiki/Flybe
https://en.wikipedia.org/wiki/Flybe
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Flybe collapse
Absolutely not so. COVID was having no effect upon Flybe in early March and in the previous months. COVID only began to bite after the collapse of Flybe. Those who are connecting Flybe's failure with COVID are putting up a smoke screen. You are correct to point to the financial figures instead.
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Far from it. By the end of February ‘20 forward bookings were collapsing (just look at any media for that week) and cash was running out. The credit card merchants were withholding cash and the outlook became so bad because of COVID that the shareholders refused to inject more funds and the airline foundered. It would have gone anyway but COVID was the straw that broke the camel’s back.
see below for timeline.
![](https://cimg6.ibsrv.net/gimg/pprune.org-vbulletin/985x1073/51c5a46a_2ff3_47d5_9bbf_f6023227f96a_61968d8f2c2a544cd3051947c0c0aa984c87081e.jpeg)
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Wrong; the only involvement that government has had in pre-packs is allowing them in the first place, and that I believe pre-dates the Tory governments of 2010 onwards. It is in fact a money making tool employed by accountancy firms.
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Under a true capitalist system, bankrupt companies would go to the wall.
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My former employer refuse credit to any phoenix company that rose out of a pre-pack until the old debt was paid, and quite right too!
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Which means that the 'gold standard' for capitalism, the USA, fails at about the same hurdle as the UK with their Chapter 11 bankruptcy rules.
My former employer refuse credit to any phoenix company that rose out of a pre-pack until the old debt was paid, and quite right too!
My former employer refuse credit to any phoenix company that rose out of a pre-pack until the old debt was paid, and quite right too!
My approach p!ssed off a number of my sales staff though!
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Absolutely not so. COVID was having no effect upon Flybe in early March and in the previous months. COVID only began to bite after the collapse of Flybe. Those who are connecting Flybe's failure with COVID are putting up a smoke screen. You are correct to point to the financial figures instead.
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it must have been around for years then. I've had plenty of flights on EZY northbound to EDI over the years, with practically half a cabin to myself. Particularly in February with the usual more bleak winter months between January and March for UK / Western European carriers.
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Yes - Chapter 11 is an abomination that has kept far too many zombie companies alive to the detriment of healthy, better-managed competitors. In my working life, I would never extend credit to any business that had entered into a CVA - it was usually only a matter of time before they were looking for another one.
My approach p!ssed off a number of my sales staff though!
My approach p!ssed off a number of my sales staff though!
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Absolutely not so. COVID was having no effect upon Flybe in early March and in the previous months. COVID only began to bite after the collapse of Flybe. Those who are connecting Flybe's failure with COVID are putting up a smoke screen. You are correct to point to the financial figures instead.
We all know Flybe was failing and previous management were running it into the ground, but to say Covid didn't have an impact is ludicrous.
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it must have been around for years then. I've had plenty of flights on EZY northbound to EDI over the years, with practically half a cabin to myself. Particularly in February with the usual more bleak winter months between January and March for UK / Western European carriers.
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Yes - Chapter 11 is an abomination that has kept far too many zombie companies alive to the detriment of healthy, better-managed competitors. In my working life, I would never extend credit to any business that had entered into a CVA - it was usually only a matter of time before they were looking for another one.
My approach p!ssed off a number of my sales staff though!
My approach p!ssed off a number of my sales staff though!
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Agree that this is capitalism at its worst, but also remember there's a lot of people still in work with companies resurrecting them selves. Its easy to forget that for ordinary people its jobs that matter, not the corrupt system. I am sure if Flybe do return it will be a welcome jobs boost to an industry in terminal decline
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Obviously the criminal law is there to deal with directors who mislead the market, engage in insider trading etc. But provided there is no criminal behaviour, how far do you go down the line of barring people from paying into ATOL, entering the market and for how long?
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