0 Have your say Regional airline Flybe has put itself up for sale just weeks after warning over falling profits. The Exeter-based airline said it is in talks with a number of "strategic operators" and is looking at cutting further costs and flight capacity amid challenging conditions in the industry. Fall in demandThe announcement comes mere weeks after the airline issued a profit warning, following falling consumer demand, and a £29 million hit from rising fuel costs and the weakness of the pound.Shares dropped by more than a third as a result of the alert and nearly 75 per cent has been wiped off the company’s stock market value since December.However, since the news of its sale plans, shares have lifted by six per cent.In half-year results, Flybe saw cost-cutting help lift underlying pre-tax profits to £9.9 million from £9.2 million a year earlier, but its group revenues fell by 10 per cent to £409.2 million after it cut capacity by … [Read more...] about Flybe sale: will my scheduled flights be affected?
Half year sale
UNDER-pressure regional airline Flybe is in talks about a possible sale of the group weeks after warning over profits. The Exeter-based carrier - which accounts for around two-thirds of passenger traffic at the George Best Belfast City Airport - said it is also looking at cutting further costs and flight capacity as it battles challenging conditions in the airline industry. The group is in talks with a number of "strategic operators" about a potential sale and has hired Evercore as adviser to help with the review and sale process. It comes weeks after Flybe warned over profits following falling demand and a £29 million hit from rising fuel costs and the weak pound. The alert sent shares tumbling by more than a third on the day and nearly 75 per cent has been wiped off its stock market value since December. Stobart Group walked away from a bid for Flybe in March after the two firms failed to agree terms. But Stobart, which already has a franchise agreement with Flybe, could … [Read more...] about Flybe puts itself up for sale amid tough airline conditions
BUDGET airline Flybe is in talks about going up for sale weeks after it issued a profit warning. The Exeter-based carrier is also looking into cutting its number of flights and other money-saving measures. It is in talks with a number of companies about selling itself off. It comes weeks after Flybe warned over profits following falling demand and a £29 million hit from rising fuel costs and the weak pound. The alert sent shares tumbling by more than a third on the day and nearly 75 per cent has been wiped off its stock market value since December. Stobart Group walked away from a bid to buy Flybe in March after the two firms failed to agree terms. But Stobart, which already has a franchise agreement with Flybe, could reportedly come back into the frame. Flybe has 78 planes operating from smaller airports including London City, Southampton and Norwich, and flies to destinations across the UK and Europe. It carries around eight million passengers a year. In half-year results also … [Read more...] about Budget airline Flybe goes up for sale – weeks after issuing profit warning
Fashion retailer French Connection has gone up for sale after it reported a half-year loss of £15.1m. Picture: Fiona Hanson/PA Wire Archant Retailer French Connection has confirmed it is for sale, sending shares rocketing. Over the weekend the company said that it is reviewing “all strategic options in order to deliver maximum value for its shareholders”, including a potential sale.Shares were up more than 30% at the market open on Monday at 56p.Like others on the high street French Connection has struggled in recent months, recently posting a yawning half-year loss after taking an £800,000 hit from House of Fraser’s collapse.The group reported pre-tax losses of £15.1m for the six months to July 31 against losses of £5.9m a year earlier, following writedowns including the House of Fraser impact and store leases.Any sale would see French Connection founder and chief executive Stephen Marks offload his 42% stake in the chain.But complicating … [Read more...] about French Connection up for sale in bid to secure brand’s future
BOSTON (AP) — Chris Sale waited eight years to make his first postseason start and then another 365 days for a chance to put that memory behind him. The Red Sox left-hander will start Game 1 of the AL Division Series against the New York Yankees on Friday night, one year after he was bombarded by the championship-bound Houston Astros in his playoff debut. He’s thought about it. He’s learned from it. And he wants to make sure he doesn’t make the same mistakes again. “Last year, obviously, I got my feet wet. Didn’t do too well. But sometimes you learn from the bad more than the good,” Sale said Thursday, a day before the longtime AL East rivals open their best-of-five series. “It happened. I’m not going to run away from it. I don’t think that’s the right thing to do,” he said. “I’m not going to hide from it. You can Google it now, tomorrow and 100 years, and it’s going to be there. I own it. I … [Read more...] about ‘If I take the mound, I expect to win’: Chris Sale eager to amend for 2017 postseason clunker