Originally Posted by
Chidken Sangwich
That was the first time that the CAA have ever 'knee jerked' and caused additional instability of a business as well as making the WRONG call and I hope (despite the sheer waste of £'m's) that they again end up with egg on their face.
The only thing causing instability to the business is Monarch itself. The ATOL bond doesn't come like a bolt from the blue - it's carefully orchestrated and needs to be discharged on a well known date. Surely a responsible management team backed by adequate funding should never be allowing this game of brinksmanship with the regulator to continue playing out a day after the arrangements were meant to be concluded.
The CAA are caught between a rock and a hard place. The criticism for mobilising backup resources will be nothing compared to what would be levelled at them should the business collapse and thousands are stranded in airports around the Med, running out of money and unable to get back home expediently. On balance, I suggest they are doing the right thing if they are making contingency preparations - especially given what has happened previously.