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Old 19th Sep 2008, 19:33
  #741 (permalink)  
exmuppet
 
Join Date: Jun 2008
Location: uk
Age: 55
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Rubbish

Charter guy is a prat, you do NOT know what you are talking about - Viking Airlines is on the Scandinavian reg so your comment on crews are rubbish like the majority of comment you pen!

PW put his heart and sole into refinancing the business he built up from nothing! - it was the Icelandic banks that ensured XLLG's demise.

If you recall it was the two banks that put the price tag on the business back in Nov 06 and effectively burdoned the business with excessive debt. It was also the same banks that until the 11th hour refused to take any write down on the afore mentioned debt (they effectively wanted their money again) which just was not realistic in the current climate.

These banks were indicating that they would continue to support XL as a going concern until the 11th hour when both parties refused to put in any more working capital, to add insult to injury they then announced 24hrs later that they were going to write off the entire debt...IF THEY HAD DONE THIS ONLY 1 WEEK EARLIER THE BUSINESS WOULD NOT HAVE FAILED !!! it would have been refinanced and been in good shape with little or now debt and with oil and currency where it is today MADE A DECENT PROFIT IN FY 2009...

I have the upmost sympathy for all that lost their jobs, i am one of them, but please stop the personnal attacks and look at the facts....if you want to take your anger out on anyone its the banks that should be in the firing line! Not individuals...........
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