[QUOTE=Tight Accountant;9911778]I pulled Monarch's Account for 2016 earlier today and had a quick read. While the cash line seemed reasonable, the big red flag was the negative reserves at the bottom of the Balance Sheet, some £500m from memory! The Note on Impairments made for uncomfortable reading as well. Nevertheless, a sad day for British aviation.[/QUOTE
Shareholder funds had been wiped out which is probably what was causing concern at the CAA. It never ceases to amaze me that you can be an airline executive and be financially illiterate. If for every £1 coming in, £1.20 is going out of the door then there is no point in whinging about currency movements and terrorism or getting your new strategic plan considered by time wasting consultants, you have to take action to increase yield per passenger and reduce costs.