Ryanair renews attack on Flybe rescue deal
Ryanair group CE Michael O’Leary has ratcheted up his criticism of the UK govt’s rescue of Flybe, describing the business model of the regional carrier “doomed to fail” and arguing that the deal contravenes state-aid rules. In an open letter to UK chancellor Sajid Javid, O’Leary writes that Flybe was purchased last year “by a group of billionaires” for GBP2m (US$2.6m) “in the full knowledge that Flybe was a loss-making business”. He complains: “Your suggestion that Richard Branson (billionaire), Delta Airlines (a multibillion-dollar airline), Stobart Group and Cyrus Capital (a $4b venture capital fund) need ‘time to pay’ is absurd.” O’Leary is demanding that the govt publish the terms of its deal with Flybe, arguing that doing so is a legal requirement. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-01-29/unaligned/ryanair-renews-attack-on-flybe-rescue-deal
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Ryanair renews attack on Flybe rescue deal
Ryanair group CE Michael O’Leary has ratcheted up his criticism of the UK govt’s rescue of Flybe, describing the business model of the regional carrier “doomed to fail” and arguing that the deal contravenes state-aid rules. In an open letter to UK chancellor Sajid Javid, O’Leary writes that Flybe was purchased last year “by a group of billionaires” for GBP2m (US$2.6m) “in the full knowledge that Flybe was a loss-making business”. He complains: “Your suggestion that Richard Branson (billionaire), Delta Airlines (a multibillion-dollar airline), Stobart Group and Cyrus Capital (a $4b venture capital fund) need ‘time to pay’ is absurd.” O’Leary is demanding that the govt publish the terms of its deal with Flybe, arguing that doing so is a legal requirement. <br/>
