Henry Smith
Main Page: Henry Smith (Conservative - Crawley)Department Debates - View all Henry Smith's debates with the HM Treasury
(5 years, 2 months ago)
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Henry Smith (Crawley) (Con)
Of course Brexit has been blamed for other ills. Will my hon. Friend confirm that in the three years leading up to the Brexit referendum in 2016, Flybmi was losing more than £25 million and that its failure has more to do with fuel costs, European regulation and market forces?
Ms Ghani
My hon. Friend makes a valuable point. If we look at Flybmi’s accounts, we see that they were not healthy for many years, even before the referendum. Smaller airlines across Europe are also struggling, and I mentioned some earlier: VLM in Belgium, Germania, Cobalt and Primera. So this is not a UK thing; it is tricky for small airlines to operate, especially if they are regional, in a global sector.