Originally Posted by
onion
All the information is in the accounts if you read it.
The issue with servicing the debt is that they have only been servicing the interest.
They need to re finance 60m within a year and 120m within 2 years, before you get onto the rest.
The issue you have now is that you won't get as good a deal as they had previously as
1. Interest rates are going up world wide,
2. As has been rightly pointed out aviation isn't where it was meaning any investment is riskier
3. The long term future looks bleaker than it did 3 years ago meaning again investment is riskier.
If they get a refinance deal all it ll mean is that the cost will be higher. Causing more hardship.
This is all on an asset that is in a negative position of a quarter of a billion pounds! With direct loans to the councils of £83m.
Now MME on the other hand owes money too but it owes it to the Tees Valley Authority if they go under the public still keeps the asset. Where as NCL maybe owned by the councils but the debt is a commercial debt so if it can't be paid the public lose the asset.
Don't panic, the Saudis will soon buy NCL 👍