One of Flybe's three shareholders has suggested EU red tape contributed to the regional airline's financial troubles - and controversial rescue.
Stobart Group used an announcement to the London stock exchange to reveal it was contributing up to £9m under the agreement with the government. It saw the Connect Airways consortium, which also includes Virgin Atlantic and hedge fund Cyrus Capital, inject tens of millions of pounds of new capital into Flybe.
In return, ministers and the taxman have agreed to defer more than £100m in Air Passenger Duty payments while discussions are continuing over a potential loan.The deal has encountered stiff opposition from larger airlines.But in its announcement, Stobart said Connect's turnaround plan for Flybe was impacted by"legacy issues" and a"delay in receiving control" of the business as it took more than six months for the European Commission to clear its takeover.
flybe Blame Game! Wasn't cr*p management, at all? Before you demand it. JC will apologise for this too!
flybe Funny how all it’s competitors seemed to mange
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Owner of British Airways files complaint over Flybe bailoutIAG writes to competition directorate of EU saying rescue deal contravenes state aid rules BA is a poor airline that only gets by as it historically has access to routes Good. Labour dilemma in a nutshell. Demand state intervention to save jobs and regional opportunity, but if there is a connection to a billionaire anywhere sod the jobs and regions.
Source: The Guardian - 🏆 84. / 53 Read more »
'I would be devastated if Flybe went under'Flybe customers remain in the dark over the future of the regional airline. Same. I prefer planes to go over things We were warned! The Bees are disappearing big bong
Source: BBCNews - 🏆 3. / 97 Read more »
Government reaches agreement to save FlybeBusiness secretary Andrea Leadsom said the government had reached an agreement to keep troubled airline Flybe operating. Great news Wernt there for Thomas cook though! 👍👍👍
Source: SkyNews - 🏆 35. / 67 Read more »
The last thing the government should do is throw a lifeline to Flybe | Molly Scott CatoInstead of propping up ailing aviation companies, we need to invest in sustainable transport, says MEP Molly Scott Cato Yawn. If the government had not stepped in the Guardian would be running a Tweet from someone else telling us it was a disgrace they hadn't. It really is quite pathetic. Agreed! It’s a lifeline made of our money! Country is falling apart.
Source: The Guardian - 🏆 84. / 53 Read more »
IAG boss condemns Flybe rescue deal'Deal is a a misuse of public funds' – Willie Walsh of IAG I’m surprised that the Ministry of Transport hasn’t decided that the best thing for FlyBe would be for it to be handed over to the Northern Rail management team or perhaps they can find a Plane Operator that hasn’t got any planes or ever had any passengers The Grayling Legacy!!!! So how does Walsh explain to me how to get to Belfast or Guernsey from Cornwall. It has never ever worried him before. This is London people telling us what's good for us
Source: The Independent - 🏆 80. / 59 Read more »
Newquay link threat worries Flybe travellers as stormy skies gatherIf troubled airline fails, Cornish residents fear being isolated from rest of the country
Source: The Guardian - 🏆 84. / 53 Read more »