Originally Posted by
Hibernia
Bit off MUCH more than they can chew with the TNT purchase. Propped up with a COLOSSUS of debt. Cheap interest rates has them treading water, but watch the fun start when interest rates rise after Easter.
When will people ever learn? You simply cannot trust Belgians.
Well, I don't know if I quite agree with that, surely some serious due dillgence was done after you offer to buy the operation TWICE (FX and during the 5X takeover attempt prior to that). Yes, Belgian labour laws are different, they knew that and received rock solid contracts to enable them to deal with it. Now the news for the Panair guys, and yes - they were not the cheapest, but ran a solid and reliable ops with what they had! The only good news there is, the market will swallow these professionals rather quickly , giving them new opportunity
I do not agree with your comments relating to the Belgians, nobody bought a surprise, no jack in a bag, they got what they purchased.
CH, as sad as it is, is another matter, especially for an operator with IE roots, I don't think there is much to say about cost structures etc. As sad as it is for the jockeys involved!
Hungary - that one leaves me scratching my head, hence the question of what is really going on at a short and mid term strategic level within ASL?