In reply to DTV,
Peel did actually pay a small premium for the "asset" nothing anywhere near the paper valuation you quote of course.
With regards to your Dads Alicante flight, he has my sympathy, having experienced it myself this month. What Teesside management have to wake up to is the fact that everyones Dad, mum, brother, neighbour , cousin and priest all have workplaces, mates , relatives and the word is spreading faster each day that GSM are not reliable and are not a good bet for a hassle free holiday.
To save the situation next year GSM have to make a serious committment to Teesside or flog the routes to someone else who will.Question is how likely is that?