If MON make it through the winter of 2014 / 2015, I, for one, will be amazed !
All it'll take is a slight increase in fuel price and / or a downturn in passenger numbers and / or a hiccup in the world economy and / or a war a bit too close to home (
go figure?!), and they'll be history (imho).
What we're seeing here is almost exactly the same scenario as happened to Air Europe (AEU) in 1990 / 1991. I.e. with pretty much all of the aforementioned items occurring, in a desperate attempt to stave off costs through the forthcoming winter, AEU, in the autumn of 1990 initiated staff layoffs and swathing cuts in the flying program. They then managed to keep going up 'til the 8th March 1991, at which point the Receiver was called in, much as a result of the collapse of AEU's parent company (ILG).. and, ok, yes, there's a bit more to it than all that, but that's basically the gist of it.
Imho, unless MON has incredibly deep cash reserves and / or access to a very generous line of credit, I rather suspect that this is going to be history repeating itself, I'm sad to say.
