From the Australian Business Review Newspaper -
https://www.theaustralian.com.au/bus...3f8bfcc174bedb
If you don't want to pay its below. Bottom line is Cyrus know about the airline business and Peachy is still a director of Connect Airways.
Cyrus rejects fears Virgin Australia could go way of Flybe
Cyrus Capital is still hoping that grounded UK airline Flybe can get back into the air again, providing jobs for many of the 2000 workers who were laid off when it collapsed in March.
Jonathan Peachey was a key player in the consortium formed in 2018, Connect Airways, alongside Sir Richard Branson’s Virgin Atlantic and Irish company Stobart Aviation that took over Flybe early last year.
Based in Exeter in southwest England, with hubs in Manchester and Birmingham, Flybe was the largest independent regional airline in Europe carrying eight million passengers a year between airports in Britain and Europe.
Never financially strong, Flybe was hit hard by the travel slump as a result of the onset of the COVID-19 pandemic.
After failing to get the requested support from the British government, it collapsed in March.
Critics of Cyrus and Sir Richard are pointing to the Flybe example, arguing that it shows the consortium may not follow through on all its promises to invest in Virgin Australia and could walk away from it if the going got tough.
READ MORE:Peachey knows how to engage with people Down Under|Cyrus proposes ‘hybrid’ Virgin|‘Green lanes’ to isolate trans-Tasman bubble
Mr Peachey rejected suggestions that Cyrus’s handling of the Flybe takeover raised questions about what could happen if it took over Virgin Australia.
“It’s definitely not the case that we have abandoned Flybe,” said Mr Peachey, who has been a director of Flybe since February 2019 and has been closely involved with the airline since the Connect takeover.
“I’m hopeful the administration process will enable the business to re-emerge from administration.”
He said Cyrus was still a “key stakeholder in the administration process”.
“We invested as part of a consortium with three shareholders. The shareholders committed over £100m to the business.
“We invested everything that we had committed to invest and an additional sum in the months prior to the business going into administration as a result of the impact of COVID-19.
“We are in regular contact with the administrator and we are doing everything we can to ensure that the business can emerge in some form from administration.
“There’s still a demand for regional connectivity in the UK.
“Cyrus is doing everything it can, along with the other consortium members, to ensure that a business emerges that can rehire the many thousands of employees who were dependent on it.”