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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Stobart Group Limited    STOB   GB00B03HDJ73

STOBART GROUP LIMITED

(STOB)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/23 11:35:16 am
105.6 GBp   +0.96%
01/17Flybe discussing loan on commercial terms with government - BBC
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01/16Stobart invests £9 million in rescue of airline Flybe
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01/16UK's Stobart invests $12 million in rescue of airline Flybe
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Stobart : British regional airline Flybe in financing talks to survive - media

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01/13/2020 | 06:25am EST
A Flybe plane takes off from Manchester Airport in Manchester, Britain

Flybe, the regional British airline, is fighting for survival and the British government is being called upon to help prevent a second airline failure in less than six months, according to media reports.

Flybe, whose flights were operating as usual on Monday, said it did not comment on rumour and speculation, while the government's Department for Transport said it did not comment on the financial affairs of private companies.

Sky News reported that Flybe bosses held rescue talks with the government on Sunday as its fragile finances were hit by a higher fuel price during the winter months when demand is lower as fewer people fly.

Accountancy firm EY is on standby to handle the possible administration of Flybe, added Sky. EY did not immediately respond to requests for comment.

Should Flybe collapse, it would be the second high-profile failure in Britain's travel industry in less than six months after Thomas Cook went into liquidation last September, stranding thousands of passengers.

Flybe has 68 aircraft and about 2,000 staff and was already struggling when it was bought by Connect Airways, a consortium created by Virgin Atlantic, Stobart Group and investment adviser Cyrus Capital for $2.8 mln last year.

The new owners' turnaround plan involved providing a 20 million pound ($25.97 million) bridging loan facility and up to 80 million pounds of funding, but reports said more investment was needed, pushing Flybe to the brink.

Flybe's fleet of small aircraft includes the Bombardier Dash-8 Q400 which seats 77 passengers and connects regional airports such as Exeter, where it is based, Birmingham and Aberdeen to other British and European cities, as well as operating flights from Europe's busiest airport Heathrow.

While demand for flights from airports such as Heathrow was healthy, Flybe struggled to compete against road and rail options on some regional flights, said analysts.

Ben Bradshaw, lawmaker for the opposition Labour party who represents Exeter, said Flybe was important for British connectivity.

"I would expect the government to work closely with its management to secure the future of such a strategically important business," he was quoted by local news provider DevonLive as saying.

Flybe said in its statement: "Flybe continues to provide great service and connectivity for our customers while ensuring they can continue to travel as planned. We don't comment on rumour or speculation."

(Reporting by Sarah Young, Editing by Paul Sandle and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
BOMBARDIER INC. -0.78% 1.28 Delayed Quote.-33.68%
STOBART GROUP LIMITED 0.34% 104.96 Delayed Quote.-2.97%
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Latest news on STOBART GROUP LIMITED
01/17Flybe discussing loan on commercial terms with government - BBC
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01/16Stobart invests £9 million in rescue of airline Flybe
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01/16UK's Stobart invests $12 million in rescue of airline Flybe
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01/16STOBART : Investment in Connect Airways
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01/15UK defends throwing Flybe a lifeline after rivals complain
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01/15UK defends throwing Flybe a lifeline after rivals complain
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01/14Britain reaches deal to rescue regional airline Flybe
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01/13STOBART : British regional airline Flybe in financing talks to survive - media
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Financials (GBP)
Sales 2020 190 M
EBIT 2020 -1,55 M
Net income 2020 -28,7 M
Debt 2020 170 M
Yield 2020 0,96%
P/E ratio 2020 -21,3x
P/E ratio 2021 40,8x
EV / Sales2020 2,93x
EV / Sales2021 2,35x
Capitalization 387 M
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Technical analysis trends STOBART GROUP LIMITED
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TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 162,60  GBp
Last Close Price 104,60  GBp
Spread / Highest target 81,6%
Spread / Average Target 55,4%
Spread / Lowest Target 23,3%
EPS Revisions
Managers
NameTitle
Warwick Brady Chief Executive Officer & Executive Director
David James Buchanan Shearer Chairman
Nicholas Anthony Dilworth Chief Operating Officer & Executive Director
Lewis Ian Girdwood Chief Financial Officer & Executive Director
John D. Coombs Independent Non-Executive Director
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