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Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Further to my last Flybe (FLYB) article the most recent update underpins the buy case with new routes announced which should underpin broker forecasts of a £50 million pre-tax profit for the year to March 2016.
What the general markets seem not to have picked up on is how the significant drop in oil prices over the past few weeks will boost the bottom. Flybe has 40% fuel unhedged and I am sure it will be looking at locking in more hedges at this low price.
Coming back to the latest RNS CEO Hammad (ex Easyjet) states "our new London city routes provide direct links for customers in the regions to the heart of London’s financial district".
Routes opened up to London include Exeter, Edinburgh, Dublin, Belfast, Aberdeen and Inverness.
I have been buying on the lows which presented themselves as the interims are on the 12th November which will show a company trading profitably – I reckon the £20 million current year pre-tax profits forecast now looks conservative.
I also look forward to November 28th when Flybe hosts a Capital markets day for a full operational run down. The shares are a buy at 116p.
Until the next time more ramblings from the castle can be seen @chrisoil
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