Flybe


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TheLocalYokel

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The saga rumbles on. The linked article suggests that, unlike his predecessor, the new chancellor is not keen on cutting air passenger duty. That could impact on Flybe's future and also cut across the government's avowed intent to improve regional connectivity.

The short-haul air passenger duty rate has been pegged at £13 for the past seven years.
 

Jerry

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It's sad to say and I hope it doesn't happen especially as I'll be booking a flight with them soon for April I think Flybe's days are numbered as I don't see their owners putting in the money required to help them out or now the new chancellor.
 

TheLocalYokel

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If easyJet thought that some of the current Flybe routes were viable for them why haven't they done them before? There are examples in the past of easyJet coming in on existing Flybe routes with the result that Fybe quickly pulled out because they could not compete with easyJet.
 

Jerry

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Oh i can't wait to see easyjet launching their new daily flight from Belfast to Cardiff! And their new 3 daily Manchester to Exeter route!
Sadly i think i'll be waiting a long time!
 

Jerry

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Interest in Flybe aircraft already. 18 aircraft would make a nice sized fleet for an airline operating out 2 to 3 bases?
 

Rob c DSA

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Could this be the way forward a leaner meaner operation (could it have Connect written on it even) that has a chance of making money on routes that work operating from Birmingham and Manchester and the two main Scottish airports Edinburgh and Glasgow.

The government have certainly stuck there heads in the sand obviously the nation has bigger issues however the silence is deafening they go on about connecting the regions well the only region not really affected here is London which had very few Flybe flights
 

Jerry

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Could this be the way forward a leaner meaner operation (could it have Connect written on it even) that has a chance of making money on routes that work operating from Birmingham and Manchester and the two main Scottish airports Edinburgh and Glasgow.

The government have certainly stuck there heads in the sand obviously the nation has bigger issues however the silence is deafening they go on about connecting the regions well the only region not really affected here is London which had very few Flybe flights
It's possible. Virgin have always stated that they want to the UKs second flag carrier, a small connections operation at Heathrow and Manchester and then possibly Belfast/Edinburgh would complement their long haul operation and Stobart Air would be able to operate it.
 

Jerry

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Foxlimayankee

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Can anyone explain this clearer?

There are secured creditors who are owed £240 million. This represents, ignoring a second small £3m item:

£127 million owed to companies who financed mortgages on the Flybe fleet

£110 million owed to Virgin Atlantic, Stobart Aviation and Cyrus


Cunningly, the three shareholders had secured their entire investment on the assets of the company.

Didn't they only pay about £2m? How much did they actually invest after the purchase?
 

Jerry

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Can anyone explain this clearer?

There are secured creditors who are owed £240 million. This represents, ignoring a second small £3m item:

£127 million owed to companies who financed mortgages on the Flybe fleet

£110 million owed to Virgin Atlantic, Stobart Aviation and Cyrus


Cunningly, the three shareholders had secured their entire investment on the assets of the company.

Didn't they only pay about £2m? How much did they actually invest after the purchase?
They said that they gave Flybe £100 million in loans I believe.
 

Jerry

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Brady said: 'The Government did agree to a £100million commercial loan. Then I think the politics of Branson got in the way. I think it changed the sentiment and then the politicians changed their minds.'

He added: 'I think he's been scuppered because people just don't like bailing out a billionaire.'
 
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