I think Lassie's comments are grossly unfair. I suspect that Monarch and the CAA put the plan together as a contingency - it had to some extent been rehearsed last year I imagine. But trust me you are trying to find a solution until the very last minute - last year they did cut a deal - this year unfortunately it couldn't be done. I wonder if Lassie has even been confronted with a balance sheet that isn't going to add up - then told to sort it. Sometimes you can, sometimes you can't but there are always painful decisions to be made that will often adversely affect somebody else. Of course one is well paid to do this- otherwise you wouldn't do it.