Strong financial shape ? As far as I understand it the banks wrote off the debt in the hope that the Company might get its act together and they would see a long-term return; the other option was to withdraw all support and get damn all back for their investment when what few assets remain were sold off. All that being said I echo Codmans sentiments - it is not in the interests of the UK pilot body to see MYT go bust, another flood of redundant pilots only reduces the negotiating position for all other competitor airlines.
As Peter Long said the other day - MYT have been to hell and back BUT they should survive - whether as a corporate body they deserve to is another matter.........nonetheless good wishes to the employees of MYT, I hope that 2005 does see your fortunes improve.