www.flybe.com

Market taking it as a massive PROFIT WARNING.

Maybe i didn't take my profit too soon !
Fair enough GF you got it right .

Yep good trade that now Jimmy.

Cynic must be delighted.

Dont take any delight myself other than the money part.

To me there were red flags written all over this .

I still havent found out was happened to the 10 rust buckets.

Going to a funeral so might post back intermitently.

No more than this then on the 10 old planes doing nothing on the ground......

We are working hard to resolve our surplus fleet issue.

Back in with a SB buy @ 109.5

Ditto Jimmy b

What do most budget airlines normally do with their older planes then?

Had bit of a shock when it went down to 104

I've had a small dabble @107.5 - out if it breaks a quid.

Itb gets WORSE just look at this........

Management has estimated that up to £3m per annum of additional cost could be incurred if the EU 261 regulation in respect of flight delays is enacted in its current form. £6.0m has been provided in the half-year to cover potential historical claims. Flybe recognises that there might be a further contingent liability as the amount ultimately claimed is difficult to estimate

£3million additional costs.

goldfinger

Haven't you closed any of your short's yet ? You could be done for indecent exposure

Liberium note out this morning - results "below our forecasts....

Just 1 tranche left for keepsake. What a profitable way to kick off a morning.

Stan ........scrap them if they are 5 year or older. Big charge to the account. Already written in at 7 million per quarter £28 million over the full year, from NEXT year.

I hear the 10 Flybe ones are over 6 years old.

Back in with a SB buy @ 109.5 -------- closed @ 113.71 job done

Must dash now but those 10 grounded rust buckets are like a lead weight around this companys neck.

I think that as been well discounted in the share price drop this morning

No not at all.

Read the RNS.

Still trying to sell them or something like that. Your thinking of the surplus planes thay have bought which they are returning back.

One last point.......

HEDGING ON FUEL aswel not going there way with fuel prices predicted to fall further......from the RNS...........

Fuel

Flybe UK's results are subject to significant change as a result of movements in the price of fuel which forms a significant variable cost for the business. Although H1 2014/15 initially saw an increase in fuel prices, they declined rapidly in the last few days of September. Brent crude has been in the $105 to $110 a barrel range for the majority of the period, although saw a steady decline in the last month with the average price being $107, while the price of jet fuel has traded between $879 and $1,010 per tonne. Aviation fuel prices remain capable of large and unpredictable movements due to a variety of external factors, such as changes in supply and demand for oil and oil-related products and the role of speculators and funds in the futures markets. This was demonstrated when the oil price touched a recent low of just under $83 per barrel.

During H1 2014/15, Flybe UK used some 83,600 tonnes of jet fuel, a reduction on H1 2013/14's 100,500 tonnes, and fuel burn was stable at 16.1kg per seat for H1 2014/15 (H1 2013/14: 16.2kg). The average market price during the period was $959 per tonne (H1 2013/14: $964), with the Group paying a blended rate (net of hedges) of $959 per tonne (H1 2013/14: $975). Including 'into plane' costs, Flybe UK's fuel costs in H1 2014/15 of £55.5m (H1 2013/14: £69.4m) represent an all-in cost of $1,055 per tonne (H1 2013/14: $1,057).

Flybe UK operates a policy of managing fuel price volatility by entering into derivative contracts representing a portion (between 60% and 90%) of its aviation fuel requirements up to 12 months forward. The intention of this programme is to provide a significant element of certainty over its fuel costs for any forthcoming IATA season. As at 7 November 2014, 90.2% of the fuel burn for H2 2014/15 was hedged at an average price of $950 per tonne, and 80.1% of Flybe UK's expected fuel burn on H1 2015/16 was hedged at an average price of $936 per tonne.