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

@whytebarry
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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Infectious diseases expert Professor Gerard Killeen on the Irish government's controversial decisions

Nadine O’Regan | 1 day ago

High Court judge promises an early hearing for legal proceedings over the insurer’s refusal to pay out on business interruption policies in relation to Covid-19

Peter O'Dwyer | 3 days ago

Fianna Fáil wants the Minister for Finance to meet with insurance company chief executives and “impress on them the need to meet their obligations” to businesses hit by pandemic closures

Peter O'Dwyer | 3 days ago