Flybe-9
There are no reports of FlyBE being unable to pay bills at the moment.
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How is, by the way, the handling of third party monies by Flybe as a franchisor organized? Are monies paid by passengers on Flybe's website for Eastern / Blue Islands / Stobart flights kept in separate trust accounts, are they immediately transfered to the franchisee (minus a franchise fee) or do they get mixed up with Flybe's own monies and everything gets sorted out only after a while? This appears to be an important aspect for a franchisee if the the franchisor is going through a rough patch of sea.
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Little ray of sunshine for them maybe, the share price has appreciated about 6% this morning and the shares trading just under 11p..Every little helps, as they say. May be some good news in the offing?
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Sadly good management is very short supply in Flybe , I’ve no confidence whatsoever the grown ups are capable of extricating us from this dreadful mess of their making
Yet another airline staffed by fantastic people let down by dreadful managment , This crisis hasn’t just happened it’s been fermenting for a long time .
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An article in "The Irish News" that reported on the end of the BHD-LPL route a week ago mentioned this...
...adding that BHD would not be one of those four The reamining ten are:
It comes amid fears that the carrier...is set to scale back on its regional hubs, cutting the number from 11 to possibly seven.
- Aberdeen
- Birmingham
- Cardiff
- Doncaster
- Dusseldorf
- Edinburgh
- Exeter
- Glasgow
- Manchester
- Southampton
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An article in "The Irish News" that reported on the end of the BHD-LPL route a week ago mentioned this......adding that BHD would not be one of those four The reamining ten are:
- Aberdeen
- Birmingham
- Cardiff
- Doncaster
- Dusseldorf
- Edinburgh
- Exeter
- Glasgow
- Manchester
- Southampton
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I would treat the LinkedIn thing with real caution. It looks skewed by the Air France deal as ABZ and NCL are points where BE buys seats on AF and both are astronomically high. At places where AF buys seats from BE like BHX and MAN the numbers seem low. I guess the figures also include franchise routes so NCL and ABZ will be high as Eastern make up quite a big portion of Flybe brand activity at both.
As the figures are for the last 12 months then they will also include stopped routes like the Highlands and Islands stuff during the tussle with Loganair.
Definitely treat with caution, I’d say. It is interesting but I wouldn’t base any thoughts on it.
As the figures are for the last 12 months then they will also include stopped routes like the Highlands and Islands stuff during the tussle with Loganair.
Definitely treat with caution, I’d say. It is interesting but I wouldn’t base any thoughts on it.
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So they would take the subsidy at CWL for three years and then not see out the rest of the agreement? Really? Do you think Welsh Government will see that as a good use of their money?
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A company at the end of its tether will not be scared by some penalty clauses in a contract. If a company needs to restructure, almost any contract it will have to touch has some sort of penalty clause in it or carries the risk of a liability for damages because of a breach of contract - be it leases, employment contracts or a contract with an airport. So what? Do you think CWL or DSA will sue Flybe with the obvious result that there still will not be flights afterwards and a then insolvent Flybe is unable to pay? By entering into a 10-year-contract, those airports took a gamble and they knew it.
But let's assume just for the sake of this discussion that Flybe is indeed forced to keep CWL and DSA, which four bases would you identify that are under threat of closure as per The Irish News? Without DSA and CWL (and apparently BHD), make your pick of four from these eight: EXT, SOU, MAN, BHX, EDI, GLA, ABZ and DUS.
But let's assume just for the sake of this discussion that Flybe is indeed forced to keep CWL and DSA, which four bases would you identify that are under threat of closure as per The Irish News? Without DSA and CWL (and apparently BHD), make your pick of four from these eight: EXT, SOU, MAN, BHX, EDI, GLA, ABZ and DUS.
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There is no way on God's earth that Saad would've got into a deal with CWL or DSA that Flybe couldn't get out of very easily. I think it'll be alot easier than you think for Flybe to pull the plug.
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