|Bid||0.0000 x 1200000|
|Ask||0.0000 x 1000000|
|Day's range||0.9520 - 0.9900|
|52-week range||0.9520 - 43.5000|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Flybe has completed its controversial sale to a consortium led by Sir Richard Branson's Virgin Atlantic, which will net just 1p a share. Flybe said it did not believe the "highly conditional" plan, backed by a consortium including Arizona-based Mesa Air, could be carried out in a timeframe to allow it to continue to trade. It was offering significantly more per share than the Connect Airways consortium, which consists of Virgin Atlantic, Stobart Group and investment firm Cyrus Capital.
Both the FTSE 100 and the FTSE 250 ended the day with 0.7 percent higher. Stocks in Wall Street were also in positive territory as investors awaited the Federal Reserve's minutes from its latest meeting. Hopes of a breakthrough in the U.S.-China trade talks lifted spirits as U.S. President Donald Trump said he was open to extending their March 1 deadline.
Struggling regional carrier Flybe has rejected a last-ditch proposal to shore up its finances which would have scuppered a takeover led by Virgin Atlantic. Flybe said it did not believe the "highly conditional" plan, backed by a consortium including Arizona-based Mesa Air, could be carried out in a timeframe to allow it to continue to trade. The rejection came hours after Sky News revealed that the consortium - also backed by New York-based investment group Bateleur Capital - had tabled an offer to inject £65m of new equity into Flybe at a price of 4.5p a share.
FlyBE confirmed that it has received a proposal from an investor group led by Bateleur Capital and Mesa Air to provide it with a capital injection and replacement of funding provided by Connect Airways....
Flybe said the new preliminary financing proposal was from Bateleur Capital, Mesa Air Group Inc with support from Stobart Group former boss Andrew Tinkler. Flybe said on Wednesday that the proposal was "highly conditional" and it does not believe it could be workable in the time-frame required to enable Flybe to continue to trade. The optional financing proposal, which includes other undisclosed institutional shareholders, could look to inject cash into Flybe and replace the current funding, according to a statement.
Flybe Group Plc said it had received a preliminary proposal from Bateleur Capital, Mesa Air Group Inc with support from Stobart Group former boss Andrew Tinkler for a possible optional financing proposal. ...
Of all the sectors in travel, aviation has one of the most glaring gender gaps. The image of a male pilot and a female flight attendant has long been standard, and the executive ranks don’t look much different. Very few women occupy airline c-suites, even now, as the Time’s Up movement shines a light on […] The post The Airline Industry’s Glass Ceiling Is Still Sky-High: A Skift Deep Dive appeared first on Skift.
An Arizona-based commuter airline is backing a proposal to shore up the finances of Flybe, the struggling regional carrier, in a last-ditch effort to scupper a takeover led by Virgin Atlantic Airways. Sky News can exclusively reveal that Mesa Air Group, which is headquartered in Phoenix, is part of a consortium which has tabled an offer to inject £65m of new equity into Flybe. The rival proposal is understood to have been submitted to Flybe's board, chaired by Simon Laffin, on Tuesday afternoon.
Group PLC (FLYB.LN) shares plunged Friday after the airline’s directors warned they would wind up the company if shareholders reject a controversial takeover deal by a consortium including Virgin Atlantic Airways Ltd. In a statement released late Thursday, Flybe said investors would probably receive nothing for their shares if the deal isn’t passed. Last month, Virgin Atlantic and its co-investors agreed a 1 pence-a-share offer, valuing Flybe at 2.2 million pounds ($2.8 million).
The FTSE 100 index edged 0.2 percent higher to its highest since Dec. 4, extending a five-day winning streak, after the U.S. Fed's cautious stance last week and consensus-busting U.S. jobs data boosted confidence. Sterling gained after a newspaper reported that goods shipped to Britain from the European Union could be waved through without checks in the event of a "no-deal" Brexit.
London's blue-chip stocks climbed to their highest in more than two months on Monday as gains in oil shares and consumer staples offset deep losses in miners, while airline Ryanair slumped after a disappointing quarterly report. The FTSE 100 index edged 0.2 percent higher to its highest since Dec (Shanghai: 600875.SS - news) . Sterling gained after a newspaper reported that goods shipped to Britain from the European Union could be waved through without checks in the event of a "no-deal" Brexit.
FlyBe has received a valid request seeking a general meeting to remove Chairman Simon Laffin and investigate the carrier’s recently agreed takeover.
The U-turn on Monday by Flybe, which had rejected the call by Hosking Partners last week, boosted its lowly shares as much as 30 percent in early trade before paring the gains to trade up 10.7 percent at 3.56 pence at 1040 GMT. Richard Branson's Virgin Atlantic, Stobart Group and Cyrus Capital agreed to buy Flybe for an initial 2.2 million pounds ($2.9 million), a far cry from its 215 million pounds valuation when it joined the London Stock Exchange in 2010.
British airline Flybe, which is being bought by a consortium of Virgin Atlantic, Stobart Group and Cyrus Capital, said on Sunday it had been approached by Stobart's ex CEO Andrew Tinkler about a possible alternative financing proposal. Tinkler's approach to Flybe, which was made on Friday, was first reported on Sunday by City AM and the Financial Times.
Flybe, which is being bought by Richard Branson's Virgin Atlantic, Stobart Group and Cyrus Capital for an initial 2.2 million pounds, also said a resolution to push Flybe's directors to appoint industry veteran Eric Kohn to investigate the sale process, if proposed, would be ineffective. Flybe shares slumped 23.9 percent after it responded to the correspondence received from Hosking.
Flybe Group Plc (LSE: FLYB.L - news) on Wednesday said its largest shareholder Hosking Partners' request to oust Chairman Simon Laffin and investigate the British regional airline's cut-price sale to a consortium "was not a valid request". Flybe, which is being bought by Richard Branson's Virgin Atlantic (Shanghai: 600558.SS - news) , Stobart Group and Cyrus Capital for an initial 2.2 million pounds ($2.88 million), also said a resolution to push Flybe's directors to appoint industry veteran Eric Kohn to investigate the sale process, if proposed, would be ineffective.
By Muvija M and Shashwat Awasthi (Reuters) - London's main bourse ended Monday's session at its lowest in nearly a month as yet more downbeat data from China and U.S. bellwether Caterpillar's weak forecast ...
London's main bourse ended Monday's session at its lowest in nearly a month as yet more downbeat data from China and U.S. bellwether Caterpillar's weak forecast unnerved investors, while Ocado outshone ...
Flybe has confirmed a Sky News report that the company has been approached by Hosking Partners to set in motion the replacement of the low-cost airline's chairman of five years. Sky News reported on Saturday (Shenzhen: 002291.SZ - news) that Hosking Partners wrote to Flybe on Friday to call an extraordinary general meeting (EGM) aimed at ousting chairman Simon Laffin. The fund management firm run by Jeremy Hosking, a prominent investor, wants to install Eric Kohn, an experienced aviation executive, in Mr Laffin's place.
FlyBe said it had received a letter to remove Chairman Simon Laffin while Utilitywise explores options for sale and potential equity fundraising.