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Surely Management approach ALL their major Shareholders to ascertain if there was anyappetite for a rights issue or SH Loan?If they did not and "Hosking" and or others were not approached then the Management arein the wrong and risk being suedWhat needs to happen now is "Hosking" need to come up with a alternative plan or acceptthis is the way of the City and step aside.The deal on paper seems to just put more Debt into the company NOT equity as it requiresi would not be at all surprised to see BA step in now as the GOVT cannot risk this Airline failing with all the other BREXIT Woes that are suffocating Britain at the momentFLYBE is a basket case without a total change in Model and COST BASE.Virgins track record is very poor when it comes to Short haul as we know so i do not think a re brand cuts it...
Why would the government step in? FlyBe is definitely not too large to fail.
Fly may-be, now it's Buy may-be!
How utterly benign.
If you choose to live on the Stock Market, you must live by its rules. The suggestion is that Flybe's directors kept the share price artificially high by failing to disclose the real depth of its troubles and hinting that there may have been more than one interested party looking at buying it. Announcing a deal that valued the shares at less than a penny therefore came as a shock to those who expected the sale to be at a premium not a 12 fold loss. The fact that the deal had to be re written so quickly suggests even the buyers didn't know the real state of the business a week ago.
Yes, it does indeed smack of deceit and historically we think of ILG and more recently Monarch who appeared to be cash positive and were but the debts far outweighed their assets, In ILG's case close to half a billion in £'s debt. Listed companies must be like Caesar's wife - whiter than white. I pity those who not follow the rules. Naughty and quite illegal
Sorry PeterM, you are wrong (again)
BA Last accounts show Turnover of 12.2BN and Net Assets of 5.8B (up 42.89%)
Talking illegality, how much state aid has Ryanair had in the last 10 years ?
A perfect response Julie.
Thank you Trevor. :-)
My pleasure - whilst I am a huge fan of the Travel Weekly Business Briefing (and all the comments submitted), I do get frustrated when I read stuff from so called 'travel professionals' who clearly have no real knowledge about the subject matter - and then they spout utter twaddle. I'm all for free speech - but do the research please chaps before you become a keyboard warrior!