In 2019, Fexco could have rightly thought it was in a rock-solid position.  The Co Kerry company had diversified out of foreign exchange, so it wasn’t dependent on one industry. And it had resisted the temptation to fund itself heavily with debt. It was a business set up for stability and safety, rather than all-out growth. But it couldn’t have predicted that, in the following two years, global air travel would collapse by 61 per cent. With the collapse in air travel came a collapse in demand for retail foreign exchange.  In 2019, it was reported that bureau de change…

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