Fillosan,
Of course all charter airlines run at a loss during the winter however they are given those facilities because the banks consider them to be a good risk. They also normally go into the winter with the profits of the last summer behind them. The facts are that the 9 months revolving credit is costing MYTravel some £12.5m.
Comment in todays Daily Tel. suggests that an operating profit of £60m for 2003 will be reduced by £40m interest.
Good to see however that Byrne and Jardin are apparently negotiating payoff of £1.0m and £0.7m.