Originally Posted by
compton3bravo
It seems to me that the decision has been to kick the can down the road so to speak. According to Sky New (who originally broke the story) they been given a three month brake for paying the APD to HMG and then three monthly onwards instead of paying the £100 million owed. This in theory will give the company a breathing space over the quiet period until April subject of course the shareholders injecting further capital. My theory is that the government will reduce the APD on domestic flights and increase it on long haul flights to make up the difference. The APD is expected to bring in just short of £4 billion and the government needs every penny.
Looking further ahead I have grave doubts the airline will survive in its present form and the bad publicity over the last few days definitely has not helped.
None of this will help with the Credit Card companies; only thing that will satisfy them is capitalization of the company as was promised by the Consortium but obviously not done.