sarahc Posted November 11, 2013 Share Posted November 11, 2013 http://www.bbc.co.uk/news/business-24895428 Ouch. Is there any way this can't affect the IOM? Link to comment Share on other sites More sharing options...
Lxxx Posted November 11, 2013 Share Posted November 11, 2013 http://www.bbc.co.uk/news/business-24895428 Ouch. Is there any way this can't affect the IOM? You would think that with Easyjet eating into their north west market they'd have to be at risk. Link to comment Share on other sites More sharing options...
irishwasa Posted November 11, 2013 Share Posted November 11, 2013 That is going to hurt a lot of people. Looking at those figures, then pre-2012 they must have employed around 3200 people. They have since lost 490, with another hundred soon, and then another 500 to go. That is a big chunk, but I wonder how many they will be shedding from Gatwick? The likes of the IOM, I suspect, is less impacted as the desk services are by an agent, rather than Flybe. I don't know if they are planning on stopping more routes - that would be the bit that hurts us most, I guess. Not good news whichever way you look at it. Link to comment Share on other sites More sharing options...
Utah 01 Posted November 11, 2013 Share Posted November 11, 2013 I don't think there are any flybe people at gatwick now. I think that those in the outposts of the flybe empire are inevitably going to be hit and if, as is rumoured, 100 crew jobs are going to go, that only points to one thing. Perhaps the saving grace for the Island's flybe pilots is that most have been here since 1945 and have sufficient length of service to be offered jobs elsewhere in the empire. Link to comment Share on other sites More sharing options...
craggy_steve Posted November 11, 2013 Share Posted November 11, 2013 Don't understand why the BBC has only just caught on to this when it's been reported in other places since July, e.g. http://www.theguardian.com/business/2013/jul/03/flybe-chief-executive-saad-hammad-jim-french . The threat is the routes, thay are reviewing / going to review routes and IoM has to consider itself at risk The new CEO has also chopped most of the exec directors http://www.telegraph.co.uk/finance/newsbysector/transport/10312701/Clear-out-at-Flybe-as-new-chief-flexes-muscles.html Either our route figures measure up, in which case I suspect both routes and crews will be safe, or they don't. Troubling. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 11, 2013 Share Posted November 11, 2013 They're also revising their fleet negotiating the return of various leased aircraft types etc. There is the possibility of the routes still being on from here, but smaller planes in future? Link to comment Share on other sites More sharing options...
Andy Onchan Posted November 11, 2013 Share Posted November 11, 2013 If you have the spare cash then Flybe shares might be worth a punt. Link to comment Share on other sites More sharing options...
Tarne Posted November 11, 2013 Share Posted November 11, 2013 These are the half yearly results, ie, flying from Apr to September - Last year it was £1.3 mill loss at the half yearly, followed by £41.8 mill at the full yearly. I'd be cautious on the shares to be honest, however it does look like the new CEO is going to turn FlyBe into a much leaner organisation by chopping jobs. Link to comment Share on other sites More sharing options...
Andy Onchan Posted November 11, 2013 Share Posted November 11, 2013 These are the half yearly results, ie, flying from Apr to September - Last year it was £1.3 mill loss at the half yearly, followed by £41.8 mill at the full yearly. I'd be cautious on the shares to be honest, however it does look like the new CEO is going to turn FlyBe into a much leaner organisation by chopping jobs. It seems to me that there can't much more fat left to trim after the next round of cuts, the next major step would be liquidation. The former CEO Jim French created demand for certain routes/destinations that never really existed and still don't, that's why they lost money. Some of their core UK routes were only ever marginal, adding even more marginal routes only compounded the problem. If they go back to their roots there may still be time to save the company. Link to comment Share on other sites More sharing options...
woolley Posted November 11, 2013 Share Posted November 11, 2013 If they go back to their roots there may still be time to save the company. Trouble is that there are a lot more snouts in the trough nowadays all forlornly hoping for a return on their investment. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 11, 2013 Share Posted November 11, 2013 These are the half yearly results, ie, flying from Apr to September - Last year it was £1.3 mill loss at the half yearly, followed by £41.8 mill at the full yearly. I'd be cautious on the shares to be honest, however it does look like the new CEO is going to turn FlyBe into a much leaner organisation by chopping jobs. That picture is not agreed with by Reuters? Reuters: Flybe expands restructuring, expects 500 job cuts Link to comment Share on other sites More sharing options...
Andy Onchan Posted November 11, 2013 Share Posted November 11, 2013 If they go back to their roots there may still be time to save the company. Trouble is that there are a lot more snouts in the trough nowadays all forlornly hoping for a return on their investment. Haven't the main snouts been culled & butchered?.....at 79p I still think it's worth a punt. Link to comment Share on other sites More sharing options...
woolley Posted November 11, 2013 Share Posted November 11, 2013 Struggling to see the upside on it at the moment. Lot of people sitting on big losses is what I meant. Link to comment Share on other sites More sharing options...
ballaughbiker Posted November 11, 2013 Share Posted November 11, 2013 I hope no IOM based crew have a forced re-locate. Link to comment Share on other sites More sharing options...
Andy Onchan Posted November 11, 2013 Share Posted November 11, 2013 Struggling to see the upside on it at the moment. Lot of people sitting on big losses is what I meant. OK, with you now. Link to comment Share on other sites More sharing options...
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