Originally Posted by
lee757
".... a potential £60 million sale of lucrative runway slots – including 20 at Gatwick – and £48 million of cash in Monarch’s bank account, means Greybull is likely to walk away from the failure of the airline and travel group with losses.......
"Greybull said it is owed debt, equity, interest and fees totalling more than £100 million, which will be offset by the proceeds from the administration"
Please excuse my naivety here but if Greybull say they are owed more than £100 million but they receive £60 million from slots and £48 million cash plus retain MAEL then surely there is no loss?
In addition I read that Greybull are first in line to recoup monies when the slots are sold on by the receiver but KPMG can only sell whilst the Monarch licence (currently suspended) is held however surely this could be revoked by the CAA thus the receiver would not be able to sell same. The money could then go some way to offsetting repatriation costs, redundancy payments and ATOL cover.
Grateful for comment (as a newby) where I'm going wrong!