So why did Flybe jump 10% yesterday in a red market. Well no clear answer but it would seem its own corporate broker was pushing its merits, possibly now worried that Numis trying to outdo them after their recent appointment as co-broker. I think we can expect an upbeat Numis initiation as the next price trigger for Flybe.
But more simply, now that FY15 results are out with no surprises the stock starts to look really cheap on both 9mo and 21mo PE at c11x and c4x.
NB also their new white label customer SAS raise their targets today - just shows that signing Flybe as a outsourcer (starts in October) can do good things to your profitability. Success at SAS is a great advert for further deals.
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