3AWM wrote:The slots don't have any intrinsic value until March 2020.
In order for the previous shareholders to realise this value they would have had to put in sufficient working capital to cover the airline's losses until then. As I understand it Flybe has actually lost more money than anticipated as such they need more working capital to get to March which is why the investing partners don't want to put more in.
Apologies for previous, I meant to correct the view that the slots have a monetary value. As per the commitments, they cannot be sold or transferred to another operator. If Flybe decide not to use them any longer then they return to IAG.
1.3.3 Grandfathering is subject to approval of the Commission, advised by the Monitoring Trustee, in accordance with Clause 1.4. The Commission’s approval shall be conditional on the Prospective Entrant committing that if it ceases to use the Slots in question for the purposes described in Clause 1.3.2, it will return the Slots in question to IAG or, if IAG does not want the return of the Slots, to the slot coordinator.