Youwererobbed: If MyTravel didn’t meet the financial criteria for its licence, the CAA would revoke it straight away and at any time. So you theory that “this renewal is due in the next 6-8 months” and that the banks “will obviously artificially lift the share price to ensure that company value exceeds liabilty” at that point in time is wrong.
The share price is rising on the back of good news concerning MyTravel’s sales for Summer 2003 and the fact that no more accounting errors have been found, as some investors feared. (And given that Deloitte & Touche, Ernst & Young and PricewaterhouseCoopers have all been over the books with proverbial fine-tooth combs, there really shouldn’t be any more errors).
Unbelievable, how some people can put a negative spin on any piece of news. Last week it was the Mail on Sunday saying that because the banks had requested MyTravel change its hedging policy for Summer 2004, it meant the “that the banks will not keep the company running after this summer” (
article). And now we have Youwererobbed saying that “as soon as the amount of debt is
reduced enough that the banks own debt is not effected then all support will be taken away”. Come on.