Flybe or Fly-not-to-be – should taxpayers bail out private firms?
23 January 2020: The Government’s stance on assisting private firms in financial difficulty remains steadfast: they don’t. Flybe is one of the most recent possible failures in the news right now.
The Government’s most recent election manifesto was to help the UK stay connected, especially outside of London. As Flybe operates a largely regional service on routes not covered by other operators, to see Flybe close would have been a significant step back in providing us with the connectivity that we were promised. As such:-
- Flybe have deferred around £10m of a £100 million tax bill relating to Air Passenger Duty;
- The Government are considering providing short-term funding, on commercial terms, to Flybe; and
- The Government are considering a possible scrap of domestic Air Passenger Duty altogether.
As we said at the beginning, the Government doesn’t assist failing private firms… or do they… you decide.
No matter how large or small the company is, there are always various stakeholders to consider: creditors, clients, employees, directors, shareholders, and the ‘tax-man’.
Whilst we can’t promise that we can get you or your clients financial assistance from the Government, the team at BRI Business Recovery and Insolvency can promise to:-
- Understand the issues at hand; and
- Provide appropriate options and solutions.
Should you need to discuss your financial situation then please contact any of the BRI management team for a confidential, free and without obligation initial meeting.