View Full Version : Easy pull out of TAG
radar707
11th Apr 2002, 18:11
Heard today that EasyJet pulled out of TAG day before yesterday, anybody know anything more about it???
bagpuss lives
11th Apr 2002, 18:43
Hmmmm not sure they actually "pulled out" think it was more of a financial / accounting matter but I wait to be corrected.
Warped Factor
11th Apr 2002, 19:10
From what I read in the papers, all they've done is written off their investment (£7m). An accounting process.
They're still very much a part of TAG.
WF.
PEAWEE
11th Apr 2002, 19:53
thats how i hear it to, i think they release their interim results next wed or thur
terrain safe
11th Apr 2002, 21:07
From what I understand, easyjet have written off their investment as they don't expect to be able to make a return on it.
Does this mean that they were expecting to make a return (profit?) on their investment? I thought that it was all set up as a non profit making organisation. Or am I being stupuid again?
:confused: :confused: :confused:
niknak
11th Apr 2002, 21:19
I'm pretty sure that in yesterday's Daily Torygraph, (can't find it at the moment - the dustmen nicked it), that they were quoted as "having written off their investment, AND were strongly considering withdrawing from the group".
The statement was made in a pretty forth - right and robust manner, and went on to say that no final decision would be made until May 09th, but they expect to announce their withdrawal from TAG at that date.
Probably one of the few Easy products Stelios dare not advertise for fear of frightening the children, (big and small).
Cuddles
13th Apr 2002, 20:05
The first of many occurrences of PROFIT BEFORE SAFETY?
WE TOLD YOU SO:mad:
2 six 4
13th Apr 2002, 20:31
Their statement said that they were writing off the £7m investment in the books as they saw no early expectation of a return therfore it becomes a pure cost written off against tax. they expect to make a profit on their £7m from the rise in the overall value of NATS ... sometime in the future !
They state, along with other airlines, that the investment was not a commercial but strategic one. Presumably stopping other buying NATS and acting against thir interests.
Can't wait for my next allocation of shares !! ;)