Friday May 29, 2020

CityJet ‘set to emerge much smaller from examinership’

Chief executive Pat Byrne hopes to revive a merger with Spanish airline Air Nostrum, and says reaction to the coronavirus was ‘completely disproportionate’

Barry J Whyte

Chief Feature Writer

26th April, 2020
Pat Byrne, chief executive of CityJet, which employs 1,175 people – over 400 of them in Dublin, and has debts of €500 million and an €186 million deficit

CityJet will inevitably be a much smaller company when it comes out the other side of the examinership process, Pat Byrne, its chief executive, has said.

Twenty per cent of the company‘s business base has evaporated, Byrne told the Business Post, forcing it to restructure its debt and leasing arrangements, close some bases, lay-off staff, and slim down its fleet of aircraft to deal with the harsh reality that its revenues could be substantially...

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