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Ryanair leaves Hungary? CEO unexpectedly comes to Budapest next week
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Michael O’Leary is to come to Budapest next week. He already announced that he would hold a press conference in a hotel. The omens are worrisome: when he was in Brussels this week, he said Ryanair would quit Brussels’ Zaventem Airport. The airline’s leader blamed a newly introduced flight tax he called “crazy and discriminatory”, and increased airport charges. At the beginning of September, Ryanair left Athens, blaming the Greek government and the airport’s operator.
Ryanair leaves multiple airports
Ryanair received a gigantic HUF 300 million fine from the Hungarian government. Furthermore, the CEO has been quarrelling with the Orbán administration since the introduction of Hungary’s departure tax. O’Leary is to arrive in Budapest next Tuesday from Brussels. There, he announced earlier this week that the Irish budget airline would leave the Brussels Airport.
Ryanair will take away his two aircraft from there by the end of 2022 and does not plan to return until March 2023 or until the “crazy and discriminatory” flight tax is abolished. As a result, ten flights per day will disappear from the airport. The airline decided earlier to close its base in Athens until next March, blaming the Greek government and the airport’s operator.
Who would want to set up a business in Hungary ?
Whats the attraction or future ?
Massive “shrinkage” of business operations disappearing it seems.
The only good job left in Hungary is in pipe-fitting. I heard you can become a billionaire in that line of work. But if EU funds are withheld, even the pipes will go dry.
At least we have football, right?
A lot of companies would leave if they had a chance. For example Tesco tried for years to exit Hungary but they couldn’t find a buyer. Some companies are just stuck in Hungary.
If anyone thinks of doing business in Hungary they should look at what happened to small petrol stations which are forced to sell fuel at a huge loss.
Anyone recall the sale of the Aegon business to Vienna Insurance Group’s (“VIG”)? Thanks to some lovely maneuvering, using the State of (seemingly perpetual) Emergency and a Governmental Decree, we (Hungary) ended up owning a large chunk of a commercial insurance enterprise. EU laws and regulations be damned – twist company’s arms we shall. “Resistance is useless!”
If anyone is stupid here, it is Ryanair. The Hungarian government is doing their propaganda by saying that Ryanair cannot pass on the extra profit tax to the consumers and the chairman is defying it saying that yes, we will. The amount is almost nothing. 9 or 10 euros per trip per person. No one is telling Ryanair how much to charge for the tickets. They could just build in the tax into the ticket and keep quiet. Looks like Michael O’Leary’s ego does not allow this. He has to fight. Well, good luck to win this one…. I think there is a suicide hotline available in Ireland too….
O’Leary is right, it’s 9 or 10 euro this year, it’ll be doubled next year.. and so on