What I find odd is by deferring the ADP the Gov are giving a loan. But what will fundamentally change in the underlying Flybe business to allow it to both repay the loan (ADP), and not just continue to spend any further ADP to support the unprofitable business?
If they can’t pay the 100 million, what use is an additional 20 million?
A family member once asked me to lend them x, part if their justification was they could pay me back the money already owed which was about 40% of x. I declined.