Flybe or not to Flybe? This bailout flies in the face of market economics January 17, 2020 The philosophy of the market is based on the idea that the key to a prosperous economy is competition. Fair and vibrant competition, the argument goes, spurs businesses to improve quality and reduce prices, benefiting consumers and fuelling economic growth. Companies that struggle should be allowed to fail, making room for more agile or innovative [...]
British Airways flights ‘more carbon intensive’ than competitors’ January 17, 2020 Flying with British Airways can increase CO2 emissions by as much as 45 per cent per passenger compared to rival airlines, according to an investigation. The snapshot analysis found that one passenger flying from Heathrow to Miami with British Airways would be responsible for 1.13 tonnes of carbon. The same journey with Virgin Atlantic is [...]
Ryanair boss Michael O’Leary threatens to sue government over ‘billionaire-owned’ Flybe rescue January 16, 2020 Ryanair boss Michael O’Leary has threatened to sue the government over its bailout of “billionaire-owned” regional airline Flybe. O’Leary wrote to chancellor Sajid Javid today demanding that the government extend an air passenger duty “holiday” handed to the struggling carrier to all other airlines. If it does not do this, he said, it would be [...]
Revealed: Why the government bailed out Flybe, but not Thomas Cook January 15, 2020 At first glance, some might find it hard to understand why the government decided to save Flybe – a small, regional airline – but not holiday giant Thomas Cook. After all, when the latter went bust in September more than 150,000 Brits were left stranded abroad, prompting a mammoth repatriation effort by the Civil Aviation [...]
British Airways owner files complaint over Flybe bailout January 15, 2020 The bailout of regional airline Flybe from near-collapse was today the subject of an official complaint to the European Commission by the owner of British Airways, International Airlines Group. Flybe was kept aloft on Tuesday after the government provided support, thought to involve the deferral of a tax bill worth more than £100m. But IAG said [...]
Flybe saved from brink of collapse by government deal January 14, 2020 Flybe has staved off collapse after shareholders and the government struck a controversial deal that will review the regional airline’s air passenger duty contributions. Major shareholders, including Virgin Atlantic and Stobart Group, pledged to inject “additional funding” to keep the airline running. They said this would come “alongside government initiatives”. The deal came a day [...]
Troubled airline Flybe insists flights continue as normal amid survival funding talks January 13, 2020 Flybe’s chief executive today pleaded with employees not to give away details of its financial situation, as the struggling airline remained tight-lipped on reports that it is hurtling towards collapse today. Europe’s biggest regional carrier was rocked by suggestions that it is in a fresh battle for survival on Sunday night, less than a year [...]
Flybe ‘near collapse’: What do we know so far? January 13, 2020 Flybe, the biggest regional airline in Europe, is said to be on the brink of collapse. Sky News reports the carrier is engaged in a frantic bid for emergency funding, and the government is also said to be involved in the talks – which come just four months after Thomas Cook went bust in late [...]
Heathrow airport breaks Christmas passenger record January 13, 2020 Heathrow airport welcomed a record 80.9m passengers in 2019 to notch a ninth consecutive year of traffic growth, it revealed today. Larger and fuller aircraft pushed the passenger growth as Heathrow airport witnessed its busiest December ever, when 6.7m passengers travelled through the airport over Christmas and New Year, up 3.1 per cent compared to [...]
Ryanair’s €1bn profit upgrade lifts rival airlines’ shares January 10, 2020 Ryanair profit upgrade today on better-than-expected Christmas traffic has lifted competitors’ shares on the FTSE as well as its own. Ryanair’s stock rose 6.6 per cent to €16.23 as it raised full-year profit guidance to beyond €1bn (£850m) after saying Christmas and New Year bookings were “stronger than expected”. Read more: Ryanair’s ‘abusive’ hand luggage [...]