Originally Posted by AlphaWhiskyRomeo
From what I hear, it's bullsh1t that they have only gone into administration as a direct result of losing their AOC. I've heard that they has cashflow problems around a month ago which meant problems paying sub-contracted aircraft operators.
Well what you heard is wrong.
From a financial point of view the company was not in great shape, but it was doing better, and after a review with the Bank and Accountants (with the lawyers present) they were given a clear mandate to continue the operation.
There are only TWO reasons that Emerald have now collapsed (because even with the greatest will in the world they are unlikely to survive in its present form) all created by an ego who put his own bravado before the employees and families that will suffer for his actions.....
1. The Accountable Manager continually thinking that he was better than the CAA and thinking that they would never dare pull his AOC, after all, why should he follow set down rules on the very basic functions of holding an AOC when the business of selling cheapo charters you have no crew for is far more important. Well what a fool he turned out to be.
If anyone thinks for one minute that the individual concerned was somehow victimised, I have it on good authority that he was asked THREE times to sort out the training mess and still failed to do so.
2. Years and years of late payments and battles with suppliers have come back to haunt them in a big way, now companies are only too glad to repay that attitude and are slapping writs on aircraft that could not possibly be paid quickly when there is no money coming in, on Tuesday there was a VERY good chance that JEM might have been flying by now, as every day goes by the vicious circle casued by an individuals ego can only result in oblivion being not too far off.
The only good thing that can come from this, is that certain individuals should NEVER be able to hold senior accountable positions in any UK airline again.