PPRuNe Forums - View Single Post - Will MY-TRAVEL go Bust ? (Merged)
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Old 25th Nov 2004, 12:33
  #101 (permalink)  
sfbbus
 
Join Date: May 2004
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Waco, yes they are, but I was talking about the a/c and ships etc which the company used to own.When things started to go wrong MYT quickly disposed of those assets such as a/c to leasing companies, and then leased them back. This meant at the time that the company was less attractive for pure asset stripping, which was probably a factor in the banks keeping it going, thank god. After the restructuring MYT will probably be the most secure, and leanest of all the tour operators. The new accounting practices which have been implemented, and were part of the initial problem, will also have to be used by other companies, so they have some pain to go through. Hopefully we will all survive, and all have a secure future. Not a scenario that Lovejet wants to see, but I'm sure the rest of us do.
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