Flybe confirmed (13-Nov-2013) major shareholder Rosedale Aviation Holdings disposed of its 48.1% stake in the company on 12-Nov-2013. The free float of the company is expected to increase to 85% as a result of the disposal. The shares were placed with institutional investors by Liberum Capital, acting as sole bookrunner. Following the transaction, Standard Life Investments Ltd has taken a 8.265% stake in the company, SFM UK Management LLP a 9.4% stake, Aberforth Partners a 10.82% stake and Polar Capital European Forager Fund Limited a 4.59% stake. Flybe CEO Saad Hammad said: "This transaction marks another milestone in Flybe's history. I would like to thank Rosedale Aviation for their support over many years. I would also like to take this opportunity to welcome aboard our new shareholders and thank existing investors who have increased their holding as part of this transaction." [more - original PR] [more - original PR - II] [more - original PR - III] [more - original PR - IV] [more - original PR - V] [more - original PR - VI]
Rosedale Aviation Holdings disposes of 48.1% stake in Flybe
You may also be interested in the following articles...
Ryanair's 117million pax in 2016 tops European airline groups. The first time an LCC topped rankings
For the first time ever in Europe, in 2016 a low cost airline carried more passengers than any other airline or airline group, as Ryanair's 117 million passengers pushed Lufthansa Group's 110 million into second place. Ryanair had beaten Lufthansa itself, but not the whole Lufthansa Group. IAG's first full year of including Aer Lingus helped it to take third place from Air France-KLM. Europe's number two LCC, easyJet, was ranked fifth.
The big five can be expanded into a big seven to include Turkish Airlines and the Aeroflot Group, although these two had contrasting growth rates in 2016. A chasing pack of middle sized airline groups includes three LCCs (Norwegian, Pegasus and Wizz Air) and three legacy airlines with varying challenges to establishing sustainable profitability (SAS, Air Berlin Group and Alitalia).
Most of the faster growing airline groups in the top 20 are LCCs and the main growth drivers for Europe's big three legacy groups are their LCC subsidiaries. Just outside the top 20 are some fast growing legacy airlines in Eastern Europe, demonstrating the potential there. Nevertheless, unless there is a big merger or acquisition, Ryanair looks set to remain at number one for some time.
Flybe at Heathrow: Europe's largest regional airline enters Europe's largest airport, gets new CEO
On 20-Dec-2016 Flybe announced its first ever routes from London Heathrow and the appointment of a new chief executive. Europe's largest regional airline will launch Heathrow to Aberdeen and Edinburgh at the start of summer 2017. Former CityJet head, Christine Ourmieres-Widener, will become CEO of Flybe from 16-Jan-2017, replacing Saad Hammad, who left on 26-Oct-2016.
Flybe already operates to the two Scottish cities from London City in competition with British Airways. Its Heathrow turboprop services will compete directly with BA's narrowbody jets, and there is also competition from Ryanair and easyJet from other London airports on the city pairs. Flybe has previously baulked at Heathrow's high charges, but has now changed its mind.
Flybe's new Heathrow services will use slots previously used by Virgin Atlantic's Little Red on the same routes. Little Red failed to fill its aircraft and ceased operating after two years. Flybe will be hoping that its smaller aircraft and lower frequencies will be easier to fill. Extending its codeshare agreements with its long haul partners to include Heathrow routes would help. It will also do Flybe no harm that it already participates in the Avios loyalty scheme owned by IAG, the parent of Heathrow's largest airline British Airways.