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Is Flybe to be taken over by Stobart Group?

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Flybe‘s share price jumped on Friday after Stobart Group announced that it was considering a bid for the company.

Flybe – which uses Avios as its reward currency – has been struggling in recent years, despite carrying 8m passengers per annum and operating more UK domestic flights than any other airline.

Stobart Group to buy Flybe

The share price was 295p at the time of the 2010 IPO but has since lost 85% of its value and now has a market cap of just £100m.  British Airways, which acquired a stake in the company as part-payment for the BA Connect regional operation, sold down its shares a number of years ago.

The company was arguably a dead duck from the point in 2014 when it was forced to sell its Gatwick slots to easyJet in order to raise cash.

Stobart Group already operates Flybe flights under a franchise deal from the Isle of Man and London Southend, which it owns.  It is also likely to use the brand for services from Carlisle Lake District airport which Stobart to about to re-open to passenger flights.

Under Stock Exchange rules, Stobart Group has until 22nd March to make a formal takeover offer.

Comments (80)

  • Mike P says:

    OT: I have a BA Silver Partner Card going spare if anyone is interested. It needs to go fairly soon so let me know.

    • Genghis says:

      What’s your offer? I’ve not qualified yet this year so could be interested. @genghis1232 on Twitter

      • Mike P says:

        Hello Genghis,

        Drop me an email: mgp01977 at outlook dot com

        • Rob MC says:

          If it doesn’t work out with Genghis I would be extremely keen, have a few BA flights this year and no status!

          TIA

        • Mike P says:

          Hello Rob,

          Genghis isn’t proceeding as he’s likely to earn Silver in his own right anyway at some stage. Drop me an email and we can go from there: mgp01977 at outlook dot com

    • Andrew says:

      Hi Mike… if Rob ends up a no-go, can I be next in line please? I’m silver but didn’t requalify this year and will go to bronze next month so would be grateful if it’s going begging. Cheers a

  • Amanda says:

    Any advice on how to check whether my Gatwick BA flight to Bari in July will be on a Neos aircraft?

  • Amanda says:

    Thanks Rob

  • Jimmy says:

    O/T

    Virgin Trains East Coast – if travelling with a child under 5, I understand they go free (albeit without a seat reservation) however, if travelling in First Class, do they get the free food onboard?

    Thanks

    • Rob says:

      I would be very surprised if the Virgin staff gave you any trouble. They have certainly fed my kids in the past – admittedly I bought them a ticket anyway (to ensure we could reserve a four seat block to ourselves) but the staff didn’t know that.

  • lc says:

    OT: Is there any update on the Virgin Money Virgin Atlantic credit cards? From what Rob said in January I was expecting them some point this month, but it doesn’t seem like that will be the case.

  • haasha says:

    The CASK values for IB and EI are swapped, it was EI who decreased cost. Also the data are from the line which includes fuel cost.