Terryhall
Active member
First things first, I did a search and didn't see a thread on this already - as WOWS is generally for "all things ECFC" I figured I'd post this here.
Not sure how many have seen this info already but could have an impact for ECFC - I don't know what the terms are of our sponsorship deal with Flybe (I think I saw it was recently renewed) but anyway thought some might be interested.
Apologies for a somewhat pessimistic post when all else seems to be going so positively
Not sure how many have seen this info already but could have an impact for ECFC - I don't know what the terms are of our sponsorship deal with Flybe (I think I saw it was recently renewed) but anyway thought some might be interested.
Personally I don't pay much attention to what analysts have to say but I do wonder what it would mean for us if Flybe did at some point decide to trim their sponsorship budget? (Although that being said I suspect our annual sponsorship from Flybe is a drop in the ocean compared to the figures in the article)today's FT said:Flybe says fleet restructuring to cost up to £80m
Flybe, whose chief executive Saad Hammad has been slashing jobs and cutting costs as he strives to turn the loss making airline around, has said it could cost up to £80m over four years to remove a set of large and expensive jets from its fleet. In a trading update, Flybe said that divesting the seven Embraer E195 jets that remain in its fleet would mean: "Maximum exposure is £80m over four years. Exit costs are being targeted significantly below this figure." This could well be good news, however, as maintaining the fleet has so far cost Flybe £26m a year. Otherwise, the airline is trading well, continuing a return to business growth that began earlier this year.
For its first quarter, Flybe said, its passenger numbers have increased 9.8 per cent on the same time last year to 2.1m. Under the leadership of Mr Hammad, a former Easyjet executive, Flybe has not only closed bases and shaken up its route network, but also rebranded with eye-catching purple jets. The airline is also beginning to convince investors that it can carve out a profitable niche flying European routes that are not serviced by larger carriers. In a research note after the trading update was issued, Liberum analyst Gerald Khoo wrote: "We remain positive on Flybe. We see clear potential for its earnings and cash flow to recover as it continues to make progress in its multi-year turnaround programme. The return to growth is being delivered, with improved unit costs and manageable unit revenue dilution."
Apologies for a somewhat pessimistic post when all else seems to be going so positively