The politics may be murky, but if Flybe failed many regions would be badly hit
over 4 years in The guardian
Although the airline’s competitors are right to complain about the lack of transparency, ministers needed to show pragmatism
It’s easy to be indignant about the rescue of Flybe. Ministers on the job – business secretary Andrea Leadsom, transport secretary Grant Shapps and chancellor Sajid Javid – have been disgracefully unclear about what assistance has been extended, and on what terms. The trio proclaim they’ve cobbled together a splendid deal in tricky circumstances, but won’t say what it is.
So, yes, it’s fair for Willie Walsh at British Airways-owner IAG and Michael O’Leary at Ryanair to rev their engines and demand answers. Why are the owners of Flybe – all profit-seeking companies, including Virgin Atlantic – begging the government for a loan if they are willing, as they say they are, to borrow on “commercial” terms? Or is a “commercial” rate being defined as one that no commercial lender would offer a company with Flybe’s troubled history? Continue reading...
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