£910 million. Oh my god.
I can't see a bid coming, because whilst parts of the business may be worth more to sell individually than the whole company is currently on the LSE... the risks are too great for any buyer as are the debts.
Will the CAA lose it's nerve and withdraw it's bond? The competition at First Choice went on record saying that it would be a disaster if MYT failed during next summer. A disaster for the public that is...not themselves. So, perhaps the oppo are talking the CAA into action already?
Additional small scale problems that MYT may face that could exacerbate the issue is if lots of experienced managers, pilots, crew and other staff start to walk in large numbers.
That would just add more costs to an ailing situation. Let's hope not though.
Whilst, I have had differences with SPY, KINSMAN and FLEX42 (I know you don't work for them) on this subject in the past I hope that you all are kept employed...either in a new mean, lean MYT or elsewhere.
But, the time is here now for BIG action and not sticking heads in the sand. The press are NOT responsible for MYT's woes. Crossland and Byrne are. The pain should have been taken in 2001 like it was everywhere else virtually.
Good luck guys.
MAYDAY. MAYDAY. MAYDAY. Kestrel 123 etc.
Edited for a spelling whoopsie.
codpiece face,
i don't think the loco's will impact as much as you think.
A lot of MYT's business is longer sectors than the loco's will get involved in.