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Freight Dogs Finally a forum for those midnight prowler types who utilise the unglamorous parts of airports that many of us never get to see. Freight Dogs is for pilots and crew who operate mostly without SLF.


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Old 10th June 2008, 12:21   #1 (permalink)
africa man
 
Join Date: Nov 2007
Location: Around Africa
Age: 49
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MK possible grounding due funds
Hearing rumours of a possible Grounding by UK CAA due to insufficent funds to continue flying anybody confirm or deny !!!!!!!

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Old 10th June 2008, 12:56   #2 (permalink)
 
Join Date: Apr 2004
Location: just off Bravo apron
Age: 40
Posts: 177
MK finances?
There is already a thread running in the rumours & news section on this.
No real news known yet but maybe the company has stopped itself flying over money worries as opposed to the CAA having grounded them. Hopefully we'll be enlightened today.
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Old 10th June 2008, 19:10   #3 (permalink)
 
Join Date: Aug 2004
Location: wales
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mk into administration
MK was in the hands of the official administrater this afternoon gents
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Old 10th June 2008, 19:41   #4 (permalink)
 
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Location: Nairobi
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This does'nt mean MK is finished. Everybody is grappling with fuel related costs. Here's hoping a hard nosed investor see's beyond this and keeps MK flying.
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Old 10th June 2008, 19:49   #5 (permalink)
 
Join Date: Jan 2006
Location: England
Posts: 299
As soon as this happens, even the rumour of it, you have to start paying for fuel/handling/etc cash only, that's what really screws you.....
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Old 10th June 2008, 20:51   #6 (permalink)
 
Join Date: Feb 2008
Location: brazil
Age: 38
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Friends in Ostend, report 3 Boeing 747 at Ostend Airport Belgium. One is parked since saturday (ex flying tigers), another one since sunday (full mk livery) and a third one is parked since today ( ex china airlines).

Mk normally never stays over 24 h parked in Ostend.
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Old 10th June 2008, 23:20   #7 (permalink)
 
Join Date: Nov 2003
Location: Nairobi
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Management
I am told that one major shareholder is out. If there was a dispute between shareholders which resultd in a failed cash call then liquidation or administration would probably be the best option. This does not mean the end of an airline and in some cases happily just the beginning !!!.
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Old 11th June 2008, 00:28   #8 (permalink)
 
Join Date: Jul 2007
Location: entebbe uganda
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MK
Coleman , if correct its another sad day for an African Airline , but there are not many investors today who will sacrifice huge amounts of money , when the price of fuel is ever increasing
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Old 11th June 2008, 09:20   #9 (permalink)
dionysius
 
Join Date: Mar 2005
Location: Syracuse
Posts: 128
As well as the spiralling cost of fuel, I think the fact that they went through a large amount of engine changes over the past 12 months must have been very expensive.

Sad day for another cargo outfit.

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Old 11th June 2008, 13:29   #10 (permalink)
Coleman Myers
 
Join Date: Nov 2003
Location: Nairobi
Posts: 308
Engines
I had heard frommy contact that their engine program had been racked by bad luck and under investment - hard old birds to keep going

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