Originally Posted by
MDIS
Also I would remind you that it was Planestation ( the parent company) that had its bank funding withdrwn and therefore it was Planestation who took EUjet down.
I think that's being rather selective with the truth.
Yes, Planestation lost the support of their bank.
Why? Because their debts were growing week in, week out, and were in danger of eroding the limited asset base.
Why? Err, because they had a subsidiary called EUjet who were losing money hand over fist.
This is NOT a reflection on the quality of the people who worked for EUjet, just the unfortunate truth. If EUjet were the success some people imagined, they would actually have propped Planestation up. As it was, they dragged it down. To say that the bank withdrew support from Planestation may be true, but is a technicality in the greater scheme of things.