I listened to the head of TSSA on the radio this morning. He very sensibly pointed out that the most important thing the government should remember while dithering is that, should TC go down, that will effectively leave a monopoly situation re package holiday and that monopoly will be with TUI. I know Jet2 could be considered but I think he was right, TUI would trump the lot.
Somebody further up the thread mentioned this demand for £200M as being needed to run the airline right now. My understanding of the bank's demands (RBS, aka UK Government, isn't that an irony?) for the £200M is to cover any difficulties TC may have over the winter season with a lack of bookings. In that case, I would think it would be no big deal for the government to underwrite any losses that may arise in the event of undersold booking. With a guarantee to cover that, the banks don't need sacks full of money.
As for the EU rules, what would they do if they considered any aid from the government as a subsidy? Kick us out of the EU? Hang on, we have done that to ourselves anyway. And doesn't Airbus wallow in subsidies? And what about Air France? I don't know for certain but I have been led to believe they receive subsidies on a regular basis, to prevent them going under.
Finally, if it is any consolation, while spending a good day photographing planes at Gatwick today, I reckon I must have seen half a dozen of TC's planes arrive.
I really hope the idiots in Whitehall come up with a plan, and soon. If they don't and TC is allowed to fail, I will have to come to the conclusion that the government (via their bank) have virtually conspired to push TC into this position. Frankly, I would prefer to see the government fail, rather than TC!