Flybe’s government rescue deal is much smaller than you think January 17, 2020 Regional airline Flybe has hit back at claims by its competitors that it has received favourable treatment from the state, after it struck a rescue deal with the government earlier this week. The struggling carrier sought to correct reports that the government had deferred a tax bill of more than £100m to keep it aloft. [...]
Government faces accusations of lying over Flybe rescue package January 17, 2020 The recriminations surrounding the government’s rescue package for Flybe grew yet again this morning, as Ryanair boss Michael O’Leary accused the state of a cover-up of the true terms of the deal. O’Leary has already written to chancellor Sajid Javid threatening legal action over what he calls illegal state aid to one of his competitors. [...]
Flybe rescue secrecy is absurd January 17, 2020 So much for open government. It shouldn’t be too much to expect the ministry responsible for the public finances to disclose the potential liability to taxpayers of a private company bailout. Yet in the Treasury’s statement about the government-backed rescue of the regional airline Flybe this week, there was scant detail and even fewer numbers. [...]
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 [...]
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 [...]
DEBATE: Was the government right to bail out Flybe? January 16, 2020 Was the government right to bail out Flybe? Rob Burgess, editor of the UK’s biggest frequent flyer website headforpoints.com, says YES. Sitting in London, it is easy to think that Flybe should be allowed to fail. Sit in the departure hall at Exeter Airport, or Southampton, or one of the other regional hubs where Flybe [...]
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 [...]
Willie Walsh to step down as chief executive of British Airways owner IAG January 9, 2020 Willie Walsh, the outspoken CEO of British Airways’ owner International Airlines Group (IAG), is to step down, in a move likely to elicit a sigh of relief among politicians, union bosses and rival airline chiefs alike. IAG said this morning that Walsh, 58, would quit as chief executive in March, and officially retire on 30 [...]
Ryanair fails to block operation chief’s move to Easyjet December 23, 2019 Budget airline Ryanair has failed to delay its former operation chief’s move to rival company Easyjet after a court rejected its claim. The Irish High Court has rejected Ryanair’s attempt to stop Peter Bellow from joining Easyjet until 2021, saying a 12-month non-compete clause was not enforceable. Ryanair has instructed its lawyers to immediately appeal, [...]
Revealed: The best and worst airlines of 2019 December 19, 2019 British Airways will feel the pressure as it freefalls to a spot alongside the nation’s worst flyers, above only Ryanair and American Airlines, according to a survey by consumer magazine Which. It is a fast fall from grace for the company that topped the tables in 2015 as strikes, IT failures and mass cancellations have [...]