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Old 3rd Feb 2020, 15:44
  #3121 (permalink)  
Reversethrustset
 
Join Date: Jun 2007
Location: UK
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The problem for Flybe, or particularly it's employees is yet again it's about to live on handouts. I was flight crew at Flybe for a long time and I got out last year when the handouts dried up because it was evident what was coming. For this airline to survive it has to start making money as a stand alone airline, something it never did in all my time there apart from 1 year under Hamad. The bottom line is it can't keep living on handouts and that would scare the crap out of me as an employee (because it did). During my tenure the handouts were not exclusive to the following list; The Walker Trust giving French money to transfer it to Flybe from British European. The acquisition of BA Connect, the Olympic Airways contract, the flotation on the stock market, the sale of next gen Dashes plus options to South African Airways, the sale of the Gatwick slots to easyjet, the Brussels Airlines wet lease contract, Hamad going to the city for another £150m. All this adds up to hundreds and hundreds of millions of pounds and yet here we are years down the line and absolutely nothing has changed. French and his cronies did nothing during the worst recession in living memory, The COW was appointed as CEO with no credentials whatsoever and sat there for two years and did nothing, Anderson and Connect Airways have now been sat there approaching a year and have done absolutely nothing. Say what you like about Hamad but at least he saved the company in 2011/12 and saved my job. If I had the final decision within the Treasury I'd be asking serious questions as to how this airline not only intends on standing on its own two feet as an airline, but rather how it's going to turn things around not only to make a profit but also how it intends on paying back the handouts. I find it hard to believe it only took the government two days to ascertain that it was a viable business to enable a deferral of the tax bill when it normally takes any other CEO and their team a couple of months.
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