Flybe (79p) is stuck in the doldrums still. But two statements today hint at what lies ahead.
1 Flybe off load one of their problem jets to Norwich which should save them c£2.7m pa. Six more jets need to be offloaded but the issue is diminishing. Once out of the way the market can value the core business properly and the H1 statement in early November should underline its progress.
2 Dart PLC - aka Jet2 - today raise targets after very strong Summer trading. This news along with recent Ryanair and Easyjet comments show the trends that Flybe will likely announce in November.
On 5x PE to 3/17 Flybe is way too cheap versus peers on c14x. And soon the benefits of cheap oil will start to kick in. It's been a long slog but I am sitting tight and waiting for 200p!
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