There's nothing inherently wrong with the airline per se, but one of the (unconfirmed) lines of thought is that the CAA might be forced to pull MYT's operator's certificate if it cannot meet the bonding requirements.
I'm a pilot, not a business analyst, and I can assure you that no-one is telling us anything. Mushrooms. We have found our information from newspapers, business programs and the net - we are not being talked to so it is all speculation for the moment.
I think WWW is correct - the seats have been sold and the pax numbers are there, but there might well be the capacity amongst the remaining IT operators and the likes of EAC to absorb it if we go under. I just don't know.
You won't be interested in my personal job woes, but the importance of this to those who are thinking about training cannot be underestimated - I would advise you follow the situation closely before parting with the cash because, as WWW rightly points out, if we go under, you can virtually kiss low-hour hiring goodbye for a fair while.
Six months ago, we were patting ourselves on the back in being in the safest airline, jobwise, in the IT market. We got pay rises, better increments, better conditions... all was pretty rosy. Within a week, the share price has crashed 80% and the spectre of total insolvency looms.
For sale - one 1986 B757-225..... thirty-eight careful owners, and only 60,000 hours on the clock. Just resprayed, full sheep-hide trim. 2 new tyres, TV player, coffee-maker etc. Full wing-tank fuel. First to see will buy, genuine reason for sale. Must go this week ! Might p/x for van. Please call El Desperado on.....
