Brendan Burgess
Founder
- Messages
- 52,268
Ryanair has enough zealots of its own to try and screw honest people out of hard earned money already and championed by their money grabbing boss. I don't believe in giving them a cent of public money. If Ryanair lived by the sword, it should die by the sword.
Which is why they are profitable and why they have €3 billion of cash and have said that airlines should not be bailed out.
It's more a case of those who live by the sword, do not need to the taxpayer to swing the sword for them.
Brendan
Any company with no work for their employees to do is entitled to lay them off. It doesn't matter how much money they have.Except they have 3 billion in cash are yet still expect the State to pay their employees for the next couple of months
Any company with no work for their employees to do is entitled to lay them off. It doesn't matter how much money they have.
Despite their 3 billion cash pile, they are not shy in ta king any State support that will be available.
Welfare support for employees who have been laid off, or would otherwise be laid off, is different from bailing out airlines which need money to repay debts etc.They are not letting them go. They are taking the Government Wage Subsidy Scheme which is State Aid for the s local business and a multi-billion euro airline with 3 billion in cash. So how exactly are we defining Ryanair not needing State support like other airlines then? Despite their 3 billion cash pile, they are not shy in ta king any State support that will be available. They have taken State subsidies to set up routes across Europe. When they were founded, they were given protected routes that Aer Lingus couldn't compete on. If it comes to it, Ryanair will be in the queue for State Aid just like every other Airline. Michael O'Leary going on about Airlines should fail (and a lot of them should) is fine but he won't be long changing his tune when he needs to.
I totally disagree with the State providing capital to publicly quoted businesses.Why bail out someone who doesn't need it.If it was your own money you would need a return shares for money etc.Let them pay it back not our grandchildren .There is also so much wrong with furloughing of staff that it's not even funny ,succesfull companies can take a hit on past success and not what they are missing out on.
the bailout of bondholders during the last financial crisis
To play devil's advocate, they do have a legal duty to serve the interests of their shareholders. Which is best for them? Availing of state aid or being an outlier and refusing it?
Welfare support for employees who have been laid off, or would otherwise be laid off, is different from bailing out airlines which need money to repay debts etc.
Absolutely but dont get on high horse lecturing other airlines and Countries about state aid like o'Leary does.
No, Sunny is dead right.
The tax payer should pour money only into badly managed airlines and businesses which have paid out dividends to shareholders during the good time and who have made no plans for a recession or business interruption.
It's crazy contributing to the salaries of well run companies, who don't pay dividends, and who keep their costs and risks low, and who build up reserves so that they can survive in the inevitable difficult times. Such companies should be told to make all their staff redundant. That would be much better all round.
We certainly don't want to be encouraging companies to manage their business affairs well.
Brendan
Ryanair shareholder
Flybe. About 2 months ago.Where has he complained about state aid to an airline who have been forced by the state to cease operations?
Flybe. About 2 months ago.
Mea Culpa! I misread your post and didn't focus in on the "forced by the state" bit. My apologies.The British government forced Flybe to cease all operations in February? You have a link to that?
However, the point remains that O'Leary was extremely critical of the UK government's support for Flybe.
Maybe. However, fact is that Ryanair was "bailed out" by the Irish Government in its early years by virtue of its main rival, Aer Lingus, being ordered by the minister to cease operating to Stansted and some other destinations, thus handing a state-enforced monopoly to Ryanair. This contributed to the financial troubles of Aer Lingus, which then required a cash bailout form the Irish taxpayer. So in a very real sense, the Irish State bailed out Ryanair free gratis and enriched the company and its owners at the taxpayer's expense.I think being critical of government support for an airline that can't stay afloat in the good times while the well run ones are taking massive volumes of cash out of their businesses is fair enough though. When the government forces them to cease operations, support then is a different matter entirely.
I think being critical of government support for an airline that can't stay afloat in the good times while the well run ones are taking massive volumes of cash out of their businesses is fair enough though. When the government forces them to cease operations, support then is a different matter entirely.
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