www.flybe.com

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.

Liberum Capital Buy 110.88 190.00 180.00 Reiterates

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

GF - is that the same one as in post 648.

Not sure nicked it off iii or advfn cant remember.

Are you short or long?

Long (post 644) could have taken 5-6 points but didn't.

Ahh right. Im using one of those posh mobiles while in flight in a car.

Just another point to make.....

how did the Defined Benefit Pension scheme deficit treble?????????

Down 20% just emphasises just how volatile some of these AIM stocks can be.

I think you'll find it's a main market stock Stan.

Really James? are you george bernard on that one?

Five to Four cocker

FTSE Smallcap.

More like odds on against squire if I'm not mistaken.. now go and stand in the corner -):

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/risers-and-fallers/risers-fallers.html

By Rachel Savage Wednesday, 12 November 2014


Flybe shares tank as it sells Finnish business for €1
The low-cost airline has flown into the red, but is taking 'decisive action'

Flybe is in the midst of a turnaround and it’s not pretty. The low-cost regional airline announced today it was selling off its 60% stake in its loss-making Finnish joint venture to Finnair for the measly sum of €1 and cancelling an order for 20 aircraft.

It made a pre-tax loss of £15.3m in the six months to September 30th, due to a £9.9m impairment of the Finnish business, a £6m provision for payouts for delayed flights, £10.4m of restructuring costs and an £8m loan revaluation (MT gets travel sickness just reading that list). That doesn’t make for a happy comparison to profits of £13.8m last year. Nor do revenues, which tanked 12.3% to £307.8m.

Shares duly plunged more than 17% to 109p in mid-morning trading - not a pretty sight for the revamped management, especially as they had risen more than 26% in the last year before today.

‘We are making significant progress in addressing the legacy issues within the business, which will ensure we operate with a simpler business model,’ said chief exec Saad Hammad, who was parachuted into the business in August 2013 when veteran Jim French stepped down after 12 years in the pilot’s seat.

And to be fair to Hammad he is refocusing on the airline’s core UK market, announcing new bases at Aberdeen and Bournemouth and flights from Stansted, all launching in March 2015. That comes after Flybe unveiled a tie-up with Aer Lingus on Monday that means passengers can get from Inverness or Exeter to North American destinations, including New York, via Dublin.

In October, it announced five new regional routes from London’s City Airport. Another encouraging sign was passenger revenue per seat, a closely watched measure of profitability in the airline industry, which rose 8.7% to £54.75. But unless Hammad’s ‘decisive action’ translates into better numbers soon, he may well find himself looking for a parachute.