www.flybe.com

Good to see you in Mitzy, Ive been in since a double bottom in july. Not a big holding but pleased with the progress over last few days bar yesterday.

RESEARCH ALERT-Flybe: HSBC raises to overweight14 Nov 2013 - 04:26

Nov 13 (Reuters) - Flybe Group PLC : * HSBC raises to overweight from neutral; raises price target to 125p from 90p For a summary of rating actions and price target changes on European companies: Reuters Eikon users, click on [RCH/EUROPE] Reuters 3000Xtra users, double-click [RCH/EUROPE] Thomson ONE users, type in RT/RCH/EUROPE ((nyc.equities.newsroom@reuters.com); (Reuters Messaging: saqib.ahmed.thomsonreuters.com@reuters.net) ((Bangalore Newsroom +91 80 6749 1130; within U.S. +1 646 223 8780))

Turnaround is impressive is good sign for me.

FLYB HSBC Overweight 98.00 93.00 90.00 125.00 Upgrades

Old target price was 90p new target price 125p

a 38.8% upgrade of the SP.

Yep mitzy wish I had bought more back in the summer.

Might add a few today, just carefully watching as I think the markets are due a retrace at some time before the xmas rally.

Room for one more ?

Choo choo :-)

All aboard.

FLYB in the Times

The family of the late steel tycoon Jack Walker has sold its controlling stake in Flybe, ending 30 years of ownership of the struggling regional airline.
Rosedale Aviation, the Channel Islands’ holding company for the Walker estate, offloaded its 48.1 per cent stake for about £36 million on Tuesday, taking advantage of a sharp rise in the shares after Flybe’s new boss set out a restructuring plan.
In the wake of the sale, Flybe’s shares tumbled by 11 per cent to 93p yesterday. Buyers of the stock included two institutional investors, Aberforth Partners and Polar Capital.
Saad Hammad, chief executive of Flybe, described the Walkers’ exit as a “milestone” in the airline’s history. He said: “I would like to take this opportunity to welcome aboard our new shareholders and thank existing investors who have increased their holdings.”
Advisers to Flybe suggested that the ease with which the shares were placed with institutional investors amounted to a vote of confidence in Mr Hammad’s turnaround plan for the airline.
Gerald Khoo, an analyst at Liberum Capital, said: “Rosedale is effectively [Flybe’s] founding shareholder. It has presumably been looking to diversify its investment over the long term.”
Flybe has been buffetted by high fuel costs, rising taxes on airline tickets and tough competition from budget rivals, such as easyJet and Ryanair. Mr Hammad intends to cut 500 jobs, amounting to a fifth of the workforce, and has criticised previous management, describing the airline as “a good idea, poorly executed”.
Founded as Jersey European Airways in 1979, the embryonic airline was bought by Walkersteel in 1983. The tycoon sold his steel business to British Steel in 1990 and spent part of the proceeds on his home town football club, Blackburn Rovers, which won the Premier League in 1995. However, throughout this time, he retained control of Flybe. He died in 2000.
Flybe expanded by buying British Airways’ regional business BA Connect in 2007 and went public on the stock market in 2010. Jim French, Mr Walker’s former protégé, resigned as the airline’s chairman last week.

www.thetimes.co.uk/tto/business/industries/transport/article3920986.ece

Not sure if this was posted yesterday...

(cant find it apologies if it was)

Flybe Group PLC (FLYB)06:30 ET Nov 13, 2013
Analyst Comment by Liberum Capital

It has presumably been looking to diversify its investment over the long term and the IPO of Flybe was part of that process , the sale of the remaining stake yesterday completes that process," Liberum analyst Gerald Khoo told Reuters. more
It has presumably been looking to diversify its investment over the long term and the IPO of Flybe was part of that process , the sale of the remaining stake yesterday completes that process," Liberum analyst Gerald Khoo told Reuters.....

Flybe's majority shareholder bows outReuters
November 13, 2013, 6:57 pm tweet0EmailPrint
By Richa Naidu

(Reuters) - Flybe Group Plc said majority shareholder Rosedale Aviation Holdings has sold its entire 48.1 percent stake in the airline to institutional investors.

Flybe shares fell as much as 15 percent in early trade, making the embattled carrier's stock one of the biggest percentage losers on the London Stock Exchange on Wednesday morning.

The company's free float is now expected to increase to 85 percent, Flybe said in a statement on Wednesday.

The stake was sold through Liberum Capital, which said the buyers were UK institutions but declined to provide any additional details. At Tuesday's closing, Rosedale's stake was valued at about 38 million pounds ($60.52 million).

Chief Executive Saad Hammad indicated that some existing investors had increased their holding in Flybe as part of this transaction.

Flybe's second largest shareholder is British Airways owner International Consolidated Airlines Group , with a 15 percent stake as on June 14. Flybe's other shareholders include billionaire investor George Soros and recently departed chairman Jim French.

"Rosedale is effectively (Flybe's) founding shareholder. It has presumably been looking to diversify its investment over the long term and the IPO of Flybe was part of that process - the sale of the remaining stake yesterday completes that process," Liberum analyst Gerald Khoo told Reuters.

Rosedale Aviation, controlled by the family trust of the late Jack Walker, the steel magnate, owned as much as 69 percent of Flybe. That stake reduced to just under 50 percent when the carrier went public in December 2010.

Like many other European airlines, Flybe has responded to soaring fuel costs, higher airport charges and slower spending on air travel by shutting down unprofitable routes and limiting its spending.

The airline said on Monday it would cut 500 jobs in addition to the 590 positions it axed earlier in the year. The airline also said it would further reduce its routes, review its fleet mix, remove surplus capacity and improve aircraft and crew utilisation.

Carriers such as Lufthansa AG , Air France-KLM and Spain's Iberia have also cut thousands of jobs over the last year and reined in capacity growth.

Flybe's shares, which have gained about 103 percent since it started slashing jobs in January, were down about 11 percent at 93.34 pence at 1043 GMT.


(Reporting by Richa Naidu in Bangalore; Editing by Supriya Kurane)

Flybe's second largest shareholder is British Airways owner International Consolidated Airlines Group , with a 15 percent stake as on June 14

Waiting for broker Espirito Santo Execution Noble
to update the market possibly later today
or monday.

REG - Flybe Group Plc - Update on Consultation Process

15 Nov 2013 - 13:36

For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20131115:nRSO1783Ta RNS Number : 1783T Flybe Group PLC 15 November 2013 Flybe Group PLC ("Flybe" or "the Group" or "the Company") Update on consultation process Further to the announcement on 11 November 2013, Flybe has commenced collective consultations with Balpa, Unite, Prospect and employee representatives in respect of the Company's proposal to make around 500 redundancies in the UK. The consultations with the trades unions have been constructive and it has been agreed with the respective unions that, in order to assist the consultation process and to provide transparency across the business, the Company will publish details of the proposed base closures and proposed reductions in employee numbers that form part of the consultation process. The proposals under consultation include the proposed base closures at Aberdeen, Guernsey, Inverness, Isle of Man, Jersey and Newcastle. Separately, details of the proposed redundancies at each base are set out in the table below. Proposed Redundancies by Base Aberdeen Belfast city Birmingham Edinburgh Exeter Guernsey Glasgow Totals 12 52 49 49 116 12 37 Proposed Redundancies by Base Inverness Isle of Man Jersey Manchester Newcastle Southampton Totals 35 49 35 13 17 17 Saad Hammad, Chief Executive, commented: "We are committed to connecting the UK's regions and we intend to continue flying to these airports after the base closures. "I know that these proposals are creating great personal uncertainty but they are necessary to secure a long-term future for Flybe and I am grateful to the various union and staff representatives for the very constructive manner in which we have been able to commence the consultation process. I hope that the detail of the proposed base closures and staff cuts will further assist that process." 15 November 2013 Enquiries: FlybeSaad Hammad, Chief Executive Officer Tel: +44 20 7457 2020 Andrew Knuckey, Chief Financial Officer Niall Duffy, Director of Communications College HillMark Garraway Tel: +44 20 7457 2020 Helen Tarbet This information is provided by RNS The company news service from the London Stock Exchange

BRIEF-Flybe says started talks with Balpa, Unite, Prospect for job cuts

15 Nov 2013 - 13:46

Nov 15 (Reuters) - Flybe Group PLC : * Flybe has commenced collective consultations with Balpa, Unite, Prospect and employee representatives * Consultations in respect of the company's proposal to make around 500 redundancies in the UK. * Co to publish details of the proposed base closures & reductions in employee numbers * Proposals under consultation include base closures at Aberdeen, Guernsey, Inverness, Isle of Man, Jersey, Newcastle * Proposed 116 redundancies in Exter * Proposed 52 redundancies in Belfast, 49 in Birmingham and Edinburgh respectively * Source text for Eikon: [ID:nRS19ZYpP] * For more news, please click here [FLYB.L] ((London Equities Newsroom; +44 20 7542 7717))

Missed this late Friday..... From Zolmax

Flybe Group Rating Increased to Overweight at HSBC (FLYB)
Posted by Stuart Ham on Nov 15th, 2013

HSBC upgraded shares of Flybe Group (LON:FLYB) from a neutral rating to an overweight rating in a report issued on Thursday, Stock Ratings Network.com reports. They currently have GBX 125 ($2.00) target price on the stock, up from their previous target price of GBX 90 ($1.44).

HSBC has also updated their ratings on a number of other stocks in the last week. The firm raised its price target on shares of Transocean from $62.00 to $63.80. They have an overweight rating on that stock. Also, HSBC lowered its price target on shares of Yamana Gold from $10.00 to $9.60. They have a neutral rating on that stock. Finally, HSBC lowered its price target on shares of Sina from $98.00 to $94.00. They have an overweight rating on that stock.

Flybe Group (LON:FLYB) traded up 11.51% during mid-day trading on Thursday, hitting GBX 103.70. 1,807,711 shares of the company’s stock traded hands. Flybe Group has a 52 week low of GBX 40.00 and a 52 week high of GBX 116.00. The stock’s 50-day moving average is GBX 78.64 and its 200-day moving average is GBX 65.83.

Separately, analysts at Liberum Capital initiated coverage on shares of Flybe Group in a research note to investors on Monday. They set a buy rating and a GBX 90 ($1.44) price target on the stock.

Flybe Group plc, formerly Flybe Group Limited, is an investment holding. It is an aviation company operating in Europe

From Belfast Telegraph........

Blow for George Best Belfast City Airport as 52 Flybe staff lose jobs

Flybe said it was business as usual and wouldn't be drawn on whether any of its routes will be cut
By David Elliott – 16 November 2013,

Airline Flybe's George Best Belfast City Airport base has borne a large part of the swingeing cuts to the airline's workforce after it announced 52 pilots and cabin crew will face redundancy.

With that total nearly a third of the total headcount of 163 based in Belfast, only the airline's headquarters in Exeter has suffered a harsher reduction in headcount with 116 staff due to be cut.

The "proposed" redundancies are part of the 500 jobs chief executive Saad Hammad earlier in the week announced he was going to cut across the UK.

The airline currently employs 2,700 people in total.

Flybe said it was business as usual and wouldn't be drawn on whether any of its routes will be cut as a result of the restructuring of the business by Mr Hammad.

He told the Belfast Telegraph the Belfast City Airport base was "core" to Flybe. Since taking over at the helm of the business, he has launched a full scale overhaul and earlier this week managed to report a profit of nearly £14m.

That profit and the announcement of further headcount reduction helped push the Flybe share price up by around 30%, although the stock is still trading at around a third of its 2010 value.

"It is a matter of great regret that many valued and hard-working colleagues may leave the company," Mr Saad said.

"The proposed redundancy process will be done fairly to deliver an equitable outcome for all employees involved in Belfast, to provide the best possible basis for future company growth and secure the long term employment for the remainder of our staff."

The airline is now consulting with staff and unions. Alliance East Belfast MLA Judith Cochrane said she was disappointed.

"I am particularly concerned as the City Airport has the second highest number of job losses in this announcement by Flybe, especially given that it will mean a third of the employees will lose their job," she said.

"The decision by Flybe to scrap its Belfast to Gatwick route earlier this year may have been a factor in its decision to cut so many jobs here."

BACKGROUND

Budget airline Flybe Group PLC is Europe's largest independent regional flight provider which operates more than 180 routes to 65 European ariports. It came into being in 1979 under the name of Jersey European Airways. Currently employing around 2,600 people, it has large bases at George Best Belfast City Airport as well as Southampton, Birmingham and Manchester airports. It has a total of 14 bases across the UK, Channel Islands and the Isle of Man. The airline is the biggest operator at George Best Belfast City Airport.

Here's HSBC's eps forecasts growth year on year starting this year:

2013/2014/2015

Diluted EPS (adjusted) 108% 364% 95%

Here's their eps forecasts:

2013/2014/2015

EPS reported (fully diluted) 0.04 0.16 0.31

This from HSBC note:

"We upgrade Flybe to OW(V). We see the
revitalized management team working hard to
reshape the business, fixing the core UK regional
airline. We are eager to understand the network
configuration of the new smaller Flybe, since this
will define how sustainable the business can be.
However, we are reassured by the logic of the
steps taken so far. We see existential doubt
easing and we expect further transactions to create
a larger cash buffer to secure the business against
exogenous events.
We would not be surprised if the company were to
consider raising fresh cash from the financial
markets. We would expect the optimum time for
this to be once the latest restructuring plans have
been secured and the commercial and network
path forwards have been communicated"

U bought them on a T10 gf ? .... ffs calm down calm down and give them six months.

Moving ahead today.

No resistance from here to 165p.