Flybe about to go bump...

Old Jan 12, 20, 4:31 pm
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Flybe about to go bump...

Breaking news on Sky (gulp). I thought they’d been rescued.
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Old Jan 12, 20, 5:18 pm
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Full story here - long on menace but pretty short on detail still. Hard to work out what may have changed in the financing to make the Virgin tie-up unfeasible, and hard not to be a bit suspicious that some parties might be more enthusiastic about acquiring some LHR slots than running a messy regional airline.

It’s still not possible to book tickets on the NQY-LHR route past 31 March this year which has been creating quite a bit of controversy in Cornwall as the PSO link to London is funded to 2022; guess this may be part of the reason for that.
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Old Jan 13, 20, 2:20 am
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If its not a going to concern, why would the government put taxpayer money at risk? To subsidize its operation?
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Old Jan 13, 20, 3:28 am
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Originally Posted by PZE View Post
Full story here - long on menace but pretty short on detail still. Hard to work out what may have changed in the financing to make the Virgin tie-up unfeasible, and hard not to be a bit suspicious that some parties might be more enthusiastic about acquiring some LHR slots than running a messy regional airline.

It’s still not possible to book tickets on the NQY-LHR route past 31 March this year which has been creating quite a bit of controversy in Cornwall as the PSO link to London is funded to 2022; guess this may be part of the reason for that.
But they can't use those slots on any route that er, certain parties are likely to want.
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Old Jan 13, 20, 4:17 am
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Got it on very good authority they want it to go bust & then stobbart & virgin can use the slots & give new contracts to staff.
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Old Jan 13, 20, 4:41 am
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Originally Posted by Sealink View Post
But they can't use those slots on any route that er, certain parties are likely to want.
Didn't they turn into 'anywhere in Europe' slots after Flybe operated them for 3 years? That probably has some value even if they are not longhaul. [ Correction - as I've seen more information on another thread - Flybe only operated since March 2017, so havn't got their 3 years in ]

LF

Last edited by LimitingFactor; Jan 13, 20 at 5:02 am
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Old Jan 13, 20, 6:27 pm
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Ah Flybe...the airline where strangely my bag fits in all the Q400 I've ever flown except theirs...

Good riddance.

And let's not forget the CLIMATE EMERGENCY. APD must be raised 2x minimum on domestic UK travel.
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Old Jan 13, 20, 11:52 pm
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Originally Posted by hugolover View Post
Ah Flybe...the airline where strangely my bag fits in all the Q400 I've ever flown except theirs...

Good riddance.

And let's not forget the CLIMATE EMERGENCY. APD must be raised 2x minimum on domestic UK travel.
And the BBC reporting the exact opposite.
https://www.bbc.co.uk/news/business-51100029
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Old Jan 14, 20, 12:35 pm
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It does seem the government has (surprisingly) stepped in....
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Old Jan 14, 20, 1:47 pm
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And there’s this thread over in the BA forum, which is quite interesting, discussing the removal of the APD as well as the situation of Flybe with respect to it:

Possible reduction of APD on UK domestic flights to save Flybe - impact on BA
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Old Jan 14, 20, 2:42 pm
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Government has promised a review of domestic APD (don't hold your breath)

Treasury will negotiate a payment schedule for the APD flybe owes the government

This is apparently enough for the owners to pump in funds to keep flybe going
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Old Jan 15, 20, 1:52 am
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APD is a tax, it never belonged to Flybe so the very fact they need time to pay that indicates they have been misappropriating the tax money.

Also, if the gov do reduce APD, then I shall expect a refund of the amount I have paid for upcoming flights this year and so will many others when they get wind of that plan.
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Old Jan 15, 20, 3:00 am
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Originally Posted by chris19992 View Post
APD is a tax, it never belonged to Flybe so the very fact they need time to pay that indicates they have been misappropriating the tax money.

Also, if the gov do reduce APD, then I shall expect a refund of the amount I have paid for upcoming flights this year and so will many others when they get wind of that plan.
Yes, but I'm willing to bet that it's far less likely that flyBE end up having to pay the full amount back, as it'll require claiming and a lot of people won't bother with the faff. They won't be expected to pay it back automatically.

Whereas HMRC are very hot on enforcement action when a big bill is due.

This strikes me as being very much Branson's way of working with domestic transport in the UK - acquire an operator, then attempt to restructure its obligations. It was pension obligations which did for Virgin Trains East Coast.
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Old Jan 15, 20, 6:57 am
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Originally Posted by DeeGee26.2 View Post
Yes, but I'm willing to bet that it's far less likely that flyBE end up having to pay the full amount back, as it'll require claiming and a lot of people won't bother with the faff. They won't be expected to pay it back automatically.

Whereas HMRC are very hot on enforcement action when a big bill is due.

This strikes me as being very much Branson's way of working with domestic transport in the UK - acquire an operator, then attempt to restructure its obligations. It was pension obligations which did for Virgin Trains East Coast.
HMRC seem to have been sadly lacking in enforcing a £100m debt flybe hd to them

Virgin Group only had a 10% share of East Coast Trains.
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Old Jan 15, 20, 8:54 am
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And, of course, IAG (and others) aren't happy:

https://www.theguardian.com/business...-flybe-bailout
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