Deepknight is on the right lines, for sure. If this had of happened say, 5 months ago, it would be just another business decision as part of the results due at the moment. But the issue is timing. Failure to provide full results and discussion of more finance, sends out "stupid" signals. But the mention of "we need a further £100m" is not a bad thing. Sure it'll affect results ongoing, new interest payments on the accounts and newly found expenses. But it is nothing more than a buffer. TCX is struggling in some sides of the business, but the actual flying of the planes (basics) is profitable for them. With the bad signs in the industry and various "lower than expectations" announcements from other airlines, TCX is taking the right move to protect itself and creditors are more than understanding of that. Easier to finance a profitable company fromthe future, than a losing company for the past, present and future.