Originally Posted by
fantom
From the AOL news feed:Flybe bosses have held crunch talks with the Government in a bid to save the airline.
Discussions were held with the Department for Business, Energy and Industrial Strategy (BEIS) and the Department for Transport (DfT) over the weekend to see whether they could provide or facilitate emergency financing, the PA news agency understands.
Around 2,000 people are employed by the airline.
The Exeter-based carrier was bought by a consortium consisting of Virgin Atlantic, Stobart Group and Cyrus Capital in February 2019 following poor financial results.
The consortium, known as Connect Airways, paid just £2.2 million for Flybe's assets but pledged to pump tens of millions of pounds into the loss-making airline to turn it around.
Well for observers of the recent collapses in the UK (Monarch and Thomas Cook) we know that those BEIS and DfT “levers” aren’t connected to anything. Pulling on them is unlikely to yield much positive help. Another business run to ground by grandiose plans and unaffordable finance. Yet again there will be much groaning and gnashing of teeth but no one will be held accountable and the staff and suppliers will bear the brunt of the suffering.........And round and round we go!