Pinhammond
I am sorry due to the rantings of Grow Bag I missed your last post. You make some interesting points and in truth MYT is not out of the woods but it is now on a level playing field with all the other tour operators. It stands as much chance of being here in the long term now as any of it’s competitors.
I am given to understand the technical sticking point is one of wording and procedure and is very unlikely to affect the outcome unless the lawyers mess it up.
You say that MYT will still have debt! Not true other than £140 million of leasing debt. The Banks will in effect be the majority shareholder. In due course they will sell their stake on the stock market or to another interested party and recover their lose. MYT's debt in effect is written off.
The trading figures for this year and next strongly indicates the company will return to profit in the next year or so. The Bond Holders will no doubt appeal and have grounds due to the technical issue, however; my information is this is a done deal with 99% of the Banks already signed up!
You also said the MYT debt is more than the debt of all the other tour operatos put together. Not true, it is scary to see how much debt some of the others have. Do some digging for yourself especially on the German stock market.
In conclusion MYT are a major force in the global tour market making operating profits in Canada and Scandinavia this year and on target to break even in the UK. They are just about to throw the Zimmer frame away in exchange for a set of running shoes.