FlyBe gone bust?

[davidge]

https://www.mirror.co.uk/news/business/breaking-flybe-grounds-planes-turns-21634079
 

Looks like FlyBe is finished. It’s only 2 months since they were given Government help but it clearly wasn’t sufficient. Puts domestic U.K. air travel in doubt. Some local airports rely almost entirely on FlyBe and they are a significant part of the business for several others. 

[davidge]

Confirmed:
 

https://www.independent.co.uk/travel/news-and-advice/flybe-news-flights-administration-collapse-coronavirus-outbreak-bust-latest-news-a9376421.html

 

[Pinoydave]

One flight apparently they said fasten your seat belts now, we’re taking off before they change their minds

[Kopzak]

Not a good time for Eddie Stobart. Been trading their stock (ESL) for a week or so and bought in at under 5p when they were 96% down. Still money to be made there too.

[LoneCelt]

6 minutes ago, Kopzak said:

Not a good time for Eddie Stobart. Been trading their stock (ESL) for a week or so and bought in at under 5p when they were 96% down. Still money to be made there too.

What logic do you base that on?

[Kopzak]

Just now, LoneCelt said:

What logic do you base that on?

Not sure I understand your question?

[LoneCelt]

I mean how do you see an upside for the stock, aside from shorting it, if you can find a counterparty

 

[Kopzak]

2 minutes ago, LoneCelt said:

I mean how do you see an upside for the stock, aside from shorting it, if you can find a counterparty

 

Ah OK. Well it's been trading at 20 - 30 % up levels mostly from the bottom. Not so the last couple of days but a retrace was inevitable. Major financing in place, loan offer on the table and every major logistics company will be falling over themselves to buy them out at these price levels. Think Wincanton. 

Basically, it's hit the bottom and the dead cat bounce has already happened. Still has legs I believe but obviously just my opinion and certainly not a "stock tip" 

I invest for pleasure (and hopefully gains) but never short a stock.

[LoneCelt]

 

Thanks for the tip, I see your play. Well spotted.

[Kopzak]

1 minute ago, LoneCelt said:

 

Thanks for the tip, I see your play. Well spotted.

Welcome, but don't hate me later. Do your own research (I'm sure you will) I'm looking for 35p but will probably bail at 25p unless suspended on buy out talks. Have a gut feeling they will soldier on though, ridiculously cheap either way at current levels.

Good luck.

PS. I'm suspended in Eurasia Mining right now so that will be interesting.

[Rainsberger]

13 hours ago, davidge said:

https://www.mirror.co.uk/news/business/breaking-flybe-grounds-planes-turns-21634079
 

Looks like FlyBe is finished. It’s only 2 months since they were given Government help but it clearly wasn’t sufficient. Puts domestic U.K. air travel in doubt. Some local airports rely almost entirely on FlyBe and they are a significant part of the business for several others. 

Yes, sad sad days here in the South West feel choked for the loyal staff of 2000+ with no jobs now, certainly will put a big dent in the economy of the Southwest , also will affect many other UK Airports, Southampton, Belfast and Glasgow and of course my own local airport Exeter. RIP Flybe.

[Essexman1961]

BBC said the planes have been seized now .

[vimto66]

When flying to Thailand with finnair flybe took you from Manchester to Helsinki, before getting the finnair flight to Bangkok.Wonder how it will affect things for those who have booked flights via this route with Finnair.

[LoneCelt]

On 05/03/2020 at 11:31, Kopzak said:

Welcome, but don't hate me later. Do your own research (I'm sure you will) I'm looking for 35p but will probably bail at 25p unless suspended on buy out talks. Have a gut feeling they will soldier on though, ridiculously cheap either way at current levels.

Good luck.

PS. I'm suspended in Eurasia Mining right now so that will be interesting.

Nice mate.

Stobart up double digits today and yesterday. Glad I held on to them.