Good news in theory, however if the bond holders (who are mainly greedy vulture funds in this case) do not agree to the terms of any deal that mr McHugh puts together, then my Travel will likely cease trading.
Any deal will probably see a serious dilution of share holder value, leaving my travel in the hands of a group of mainly U.S. hands, who have no interest in the business, only getting a whole load of cash out of it.
Therefore, if MT survive, you will find them being stripped to the bone to reduce costs further to deliver value to the current bondholders....who would of course at that point be the equity holders (any other small shareholder will have wiped their arse with the useless rag share certificate by that time) until such a time as the U.S. funds sell up and do a runner. At that point though, there will be less in MT of worth than there is today.
It will not be easy to see MT survive as they are now. Look at the facts. If no deal is done, then the lights go out........... sad but maybe true.
