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BBC's Stephen Nolan lost 'a lot of money' in Flybe takeover

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Presenter Stephen Nolan in the BBC studio

Presenter Stephen Nolan in the BBC studio

Presenter Stephen Nolan in the BBC studio

BBC presenter Stephen Nolan has revealed that he lost a large amount of money in the 2019 Flybe takeover.

Mr Nolan made the revelation during his BBC Radio Ulster show on Thursday, March 5.

While discussing the collapse of the troubled airline the presenter revealed he had been a shareholder in the company until its takeover last year.

"I was a shareholder in Flybe, I lost money last year, I lost quite a lot of money," Mr Nolan said.

Have you been affected by the collapse of Flybe? Contact us digital.editorial@belfasttelegraph.co.uk

Mr Nolan earned between £325,000 and £329,999 in 2018/19 from the BBC, down from just over £400,000 the previous year.

In January 2019 Flybe was subject to a 1p-a-share takeover from Connect Airways, a consortium made up of Virgin, the Stobart Group and Cyrus Capital.

The takeover was opposed by Flybe's biggest shareholders, Hosking Partners. It came just months after a 40p-a-share merger with Stobart was vetoed.

Investors lost thousands, but the airline said accepting the deal was the only way of ensuring Flybe could survive.

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Charlie Lawson (Niall Carson/PA)

Charlie Lawson (Niall Carson/PA)

Charlie Lawson (Niall Carson/PA)

Coronation Street actor Charlie Lawson expressed his anger at the collapse of the airline and revealed that he has lost six flights over the next two months.

He posted a video on Twitter and said the news could spark a "huge crisis" for Northern Ireland.

The 60-year-old actor said he had been inspired to address the issue after hearing BBC Radio 5 Live presenter Nicky Campbell report the news.

"First of all, condolences to everyone from Flybe. It is terrible news this morning," Mr Lawson said.

"I was listening to 5 Live earlier on and you would be forgiven for thinking that, as much as I admire you Nicky, that England was the only place that was going to be affected by this Flybe disaster.

"I would have to say, you can get the bus and you can get the train, or whatever. However, if you are in Northern Ireland this is an extremely bitter blow."

In January this year the airline once again found itself in financial difficulties with the Government stepping in to agree a £100m rescue plan for the company's tax debt.

The Government had promised to review the £26 air passenger duty levied on domestic UK return flights, which contributed to Flybe's losses.

Despite repeated attempts to save the company, Flybe entered administration on Wednesday evening putting 2,000 jobs at risk.

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Flybe check-in desks at Belfast City Airport are empty (David Young/PA)

Flybe check-in desks at Belfast City Airport are empty (David Young/PA)

Flybe check-in desks at Belfast City Airport are empty (David Young/PA)

Airline bosses said the outbreak of the coronavirus and its impact on the demand for air travel was partly to blame for the collapse.

Belfast City Airport has also been affected, with Flybe operating 80% of the routes out of the airport.

However, the airport's Chief Executive Brian Ambrose said a number of airlines were interested in taking over the routes.

Belfast Telegraph