Proactive Investors - Run By Investors For Investors

Stobart Group pulls out of Flybe Group bid talks

Stobart Group and Flybe have been unable to reach agreement on satisfactory terms
Flybe aircraft
Stobart confirmed in February it was running the rule over Flybe

Stobart Group Limited (LON:STOB) will not be proceeding with a bid for regional airline, Flybe Group PLC (LON:FLYB).

Stobart Group and Flybe enjoy a range of shared interests as well as a growing franchise arrangement between the two groups' airlines and it is Stobart Group's intention to continue the collaborative working relationship between both companies, Stobart’s statement said.

READ: Stobart Group responds to Flybe bid speculation

Flybe’s board said it remains “highly confident” in the prospects for Flybe and its future as an independent entity.

The board set out its “Sustainable Business Improvement Plan” in June 2017, which was focused on driving sustainable profit and cash generation.

The board intends to reduce the airline’s fleet size to what it believes is an optimum level for the number of identified profitable routes and make the business demand-driven rather than capacity-led. 

View full STOB profile View Profile

Stobart Group Ltd Timeline

Related Articles

Stobart
March 26 2019
“The company continues to make strong commercial progress in its core aviation and energy operating divisions and is trading in line with management expectations," Stobart said.
Online payment
April 02 2019
The company's payment services specialise in card-not-present transactions, payments made without face-to-face contact or verification, usually online or via mobile
drone
March 29 2019
RMS is taking action to address the issues at Geocurve and looks forward to “renewed growth in sales to new clients” while it remains "excited by the opportunities at GyroMetric"

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use