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Ryanair boss joins condemnation of UK bailout of Flybe

Thu, 16th Jan 2020 15:32

LONDON, Jan 16 (Reuters) - The boss of Irish low-cost
airline Ryanair has attacked the UK government-backed
rescue of regional airline Flybe, joining industry heavyweight
Willie Walsh in opposing state help for a private company.

Ryanair CEO Michael O'Leary said on Thursday he had written
to finance minister Sajid Javid, calling on him to extend the
same benefits to his airline as it has given to Flybe.

Flybe was kept afloat on Tuesday after its shareholders
agreed to invest more money alongside a UK government support
plan, but details of that support have not been made public.
Media reports say it involves the deferral of a passenger tax
(APD) bill and a potential government loan.

The British government has defended the rescue deal and said
it is fully compliant with state aid rules.

Walsh, the head of the parent company of British Airways
, has complained about the rescue and filed a complaint
with the EU saying that help for Flybe constituted a breach of
state aid rules.

O'Leary said Flybe should not be singled out for help.

"This government bailout of the billionaire-owned Flybe is
in breach of both competition and state aid laws," he said in a
statement, adding that any holiday Flybe had been given from APD
should be extended across the industry.

Flybe is owned by Connect Airways, a consortium created by
Virgin Atlantic, Stobart Group and investment adviser
Cyrus Capital.

(Reporting by Sarah Young; editing by Stephen Addison)

More News
14 Jan 2020 18:03

Britain strikes deal to save regional airline Flybe

LONDON, Jan 14 (Reuters) - Flybe shareholders have struck a deal with the British government to keep the regional airline operating, business minister Andrea Leadsom said on Tuesday."Delighted that we have reached agreement with Flybe’s shareholde...

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14 Jan 2020 10:59

Government Working Very Hard On Flybe Rescue – UK PM Johnson

Government Working Very Hard On Flybe Rescue – UK PM Johnson

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14 Jan 2020 08:00

RPT-UPDATE 4-Britain reaches deal to save regional airline Flybe

* Business minister says deal reached with Flybe shareholders* Officials meet to discuss possible cut to domestic flight tax* Flybe operating as normal (Repeats to add Reuters instrument code; no change to text)By Sarah Young and Alistair SmoutLON...

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14 Jan 2020 08:00

UPDATE 4-Britain reaches deal to save regional airline Flybe

* Business minister says deal reached with Flybe shareholders* Officials meet to discuss possible cut to domestic flight tax* Flybe operating as normal (Recasts on deal confirmation)By Sarah Young and Alistair SmoutLONDON, Jan 14 (Reuters) - Regio...

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14 Jan 2020 08:00

UPDATE 5-Britain reaches deal to rescue regional airline Flybe

* Flybe shareholders put more money into company* Government promises reviews of flight tax and regions* Green campaigners oppose cuts to air passenger duty (Writes through, adds detail and quotes)By Sarah Young and Alistair SmoutLONDON, Jan 14 (Reu...

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14 Jan 2020 08:00

UPDATE 3-UK's Johnson says Flybe important for transport links amid rescue talks

* PM says government working hard to do what it can* Officials meet to discuss possible domestic flight tax cut* Flybe flights operating as normal (Adds junior minister, Greenpeace comments)By Sarah YoungLONDON, Jan 14 (Reuters) - Stricken regional ...

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14 Jan 2020 08:00

UPDATE 1-UK to consider tax cut on domestic flights to help Flybe -BBC

(Adds detail, background)LONDON, Jan 14 (Reuters) - Britain could cut air passenger taxes on all domestic flights to help rescue struggling regional airline Flybe, the BBC reported on Tuesday.Finance minister Sajid Javid will meet later with repre...

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14 Jan 2020 08:00

UPDATE 2-UK's Johnson says Flybe important for transport links ahead of crunch meeting

* PM says government working hard to do what it can* Officials to meet later on possible domestic flight tax cut* Flybe flights operating as normal for now (Recasts with PM comments)By Sarah YoungLONDON, Jan 14 (Reuters) - Stricken regional airline...

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13 Jan 2020 16:56

LONDON MARKET CLOSE: FTSE Outperforms As Pound Dips After UK GDP Data

LONDON MARKET CLOSE: FTSE Outperforms As Pound Dips After UK GDP Data

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13 Jan 2020 11:55

LONDON MARKET MIDDAY: FTSE Pushes Higher As Pound Slips After GDP Data

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13 Jan 2020 11:19

UPDATE 1-British regional airline Flybe in financing talks to survive -media

(Adds detail, background)LONDON, Jan 13 (Reuters) - Flybe, the regional British airline, is fighting for survival and the British government is being called upon to help prevent a second airline failure in less than six months, according to media ...

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13 Jan 2020 07:36

UK regional airline Flybe in financing talks to survive -Sky News

LONDON, Jan 13 (Reuters) - Flybe, a regional British airline, is in talks to secure new financing to help it survive reported Sky News.When asked about the report, Flybe said it didn't comment on rumour or speculation, while the UK government's De...

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13 Jan 2020 06:45

PRESS: Flybe In Financial Rescue Talks Amid Risk Of Collapse - Sky

PRESS: Flybe In Financial Rescue Talks Amid Risk Of Collapse - Sky

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6 Dec 2019 13:15

UPDATE 3-Eddie Stobart gets lifeline as shareholders back rescue deal

* Investors "overwhelmingly" approve DBAY deal* Wincanton had earlier ended plans to buy co* DBAY deal will bring 75 mln stg of liquidity* Co also had funding offer from Andrew Tinkler (Adds percentage of votes from meeting)By Yadarisa Shabong and N...

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6 Dec 2019 13:15

UPDATE 2-Eddie Stobart gets lifeline as shareholders back rescue deal

* Investors "overwhelmingly" approve DBAY deal* Wincanton had earlier ended plans to buy co* DBAY deal will bring 75 mln stg of liquidity* Co also had funding offer from Andrew Tinkler (Adds DBAY statement, debt, details)By Yadarisa Shabong and Noor...

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