Flybe - Maybe the last word

Our friends at Head for Points (HfP) have unearthed the Flybe’s Joint Administrators’ report published by Interpath.  It makes for fascinating reading.

In short, the valuable slots at Amsterdam and Heathrow have reverted to the airport who have passed them on to JetBlue (AMS) and BA (LHR) respectively.  

The whole thing seems to be something of a financial rip-off with Interpath, which describes itself as a financial advisory business, charging an average of £689 per staff member per hour for their time to date, with the most senior staff at over £1,000 per hour.

The total net deficiency (ie the amount of money that would be required to repay all external creditors plus fully repay the debt and equity injected by the shareholders) is £82 million.

TNU’s Editor-in-Chief must hold his hand up as a former Flybe shareholder unlikely to gain any recovery on his investment.

www.headforpoints.com/wp-content/uploads/2023/03/Flybe-restructuring.pdf

www.flybe.com

www.interpathadvisory.com

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