STSB to assess Aurigny’s loss-making situation
The Trading Supervisory Board (STSB) is set to implement a strategy to mitigate its increasing losses, and moreover look to balance the financial books to, at the very least, a break-even state.
The STSB, a States faction responsible for overseeing the operations of States agencies and local ‘nationalised’ companies, has stepped in following a rise in losses from £4.2M to £7.6M.
The rise in losses has been widely criticised from a number of deputies including Deputy Peter Ferbrache and P&R President, Deputy Gavin St Pier.
Aurigny insists the increase is a result of States financial assistance to private airline firm Flybe.