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Theo Leggett

๐Ÿ‘ค Speaker
18 total appearances

Appearances Over Time

Podcast Appearances

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

OK, so Michael O'Leary says he doesn't want to use Starlink, which is an internet system.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

On the grounds that it would be too costly because it would require his planes to be fitted with external antennas, which he says would cause aerodynamic drag on the planes, increase his fuel bills to a level that would not be economically viable.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

And do we have any numbers with that?

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

He says it would entail about a 2% increase in drag and would cost about a euro per passenger, which would ultimately increase his fuel bill by about 250 million euros a year.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

And he says that's not sustainable.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

Yeah, he's floated that one a few times.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

And he's actually said he could replace Mr. O'Leary with somebody who's actually called Ryan.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

I mean, that's the level that this conversation has descended to, really.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

But he'd faced two obstacles.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

So first of all, he'd have to raise some $44 billion.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

which even for the world's richest man is a lot of ready cash.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

And then, crucially, there are also ownership rules to consider.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

So European airlines have the right to fly around Europe pretty much without restriction, provided their majority owned by nationals of the EU.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

And Mr. Musk, as a South African-American Canadian, clearly is not.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

Yeah, so, I mean, the strong words really started when Michael O'Leary did an interview on an Irish radio station in which he referred to Elon Musk as a very wealthy idiot.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

And, you know, the response to that was Elon Musk saying that Michael O'Leary should be sacked.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

Ryanair then responded by launching what it calls a big idiot seat sale featuring a caricature of Elon Musk.

Marketplace All-in-One
Will Elon Musk buy Europe's biggest budget airline?

So there's a level of humor in all of this, but it's pretty low humor as well.