Daniel Křetínský, the Czech billionaire who acquired Royal Mail's parent company for £3.6bn last year, has mounted a robust defence of the postal service's performance, insisting it has not declined under his ownership. Appearing before the business select committee, he expressed regret for late letters but argued that Royal Mail is providing a service unmatched elsewhere in Europe.
Křetínský faced sharp questioning from MPs over rising prices, industrial disputes, and delays, including 16m Christmas letters arriving late. Committee chair Liam Byrne noted the company is on track to deliver 220m letters late this year out of 5.6bn total. However, Křetínský blamed external factors, including high UK expectations for next-day delivery at low cost.
He pointed out that a first-class stamp in Italy costs €5.50 (£4.76) with only an 80% delivery target, compared to the UK's £1.80 and higher targets. From next week, Ofcom will lower Royal Mail's service targets, requiring 90% of first-class mail delivered within one working day (down from 93%) and 95% of second-class within three days (down from 98.5%).
Křetínský denied that parcels are prioritised over letters, though he acknowledged this may occur in crisis moments. He also criticised the competitive disadvantage Royal Mail faces against parcel firms with lower labour costs, calling for government action to improve employment conditions across the sector.
