Are things looking up for MyTravel?
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Are things looking up for MyTravel?
For an airline that is struggling to recover from and endless amount of knock backs, could things be looking up?
For starters I have noticed that the fleet is quickly being painted up in the full MYT colours..... eventually!!
G-VCED, G-SSAS, G-RGJR, G-JALC and G-OMYT have finally recieved a lick of paint and have to say the 330 looks very smart in the full colours.
For starters I have noticed that the fleet is quickly being painted up in the full MYT colours..... eventually!!
G-VCED, G-SSAS, G-RGJR, G-JALC and G-OMYT have finally recieved a lick of paint and have to say the 330 looks very smart in the full colours.
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i think so. seems the worst is behind them now although if all goes to plan they'll be mostly owned by the banks. you have to give them credit foa getting through the last 2 years as they should have gone bust numerous times according to all you were led to believe. i don't think they'll be what they were, but the whole industry is rapidly evolving.
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Great pilots, engineers, and cabin crew. Errrrr ....management not so great, and as for BALPA's involvement and input into the re-structuring....corrupt.
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A few questions on this matter? if I may.
1/ Are they on the up?
2/ When all kicked off mytravel confirmed they would be in profit by 2005 as part of the restructure, that has now been put back to 2006. Does this have any impact?
3/ The banks now "own" the majority of the company letting all the bondholders/shareholders lose out in a big way, until the time (if happens) the company gets back into making the banks money back for them. The banks will then sell there share and get there money back in some way? Should the banks not be held responsible for all the bondholders/shareholders losses based on the fact they let the company run up this much debt and quite frankly get into the state they're in? If I were to get into this much debt i'm sure somewhere along the line the banks would have declared me bankrupt by now.....
4/ The top brass are to take £2 mill plus for saving the company, should all the previous directors who have made this predicament and taken a huge chunk of money not be sued under the financial equivilant of corporate manslaughter?
5/ The companies results will equate to approx 200mil losses this year after tax/goodwills, how long will this go on???
6/ The uk division who run the group are the only loss makers in the group, is this true?
just something to get you started as test the nations on...
1/ Are they on the up?
2/ When all kicked off mytravel confirmed they would be in profit by 2005 as part of the restructure, that has now been put back to 2006. Does this have any impact?
3/ The banks now "own" the majority of the company letting all the bondholders/shareholders lose out in a big way, until the time (if happens) the company gets back into making the banks money back for them. The banks will then sell there share and get there money back in some way? Should the banks not be held responsible for all the bondholders/shareholders losses based on the fact they let the company run up this much debt and quite frankly get into the state they're in? If I were to get into this much debt i'm sure somewhere along the line the banks would have declared me bankrupt by now.....
4/ The top brass are to take £2 mill plus for saving the company, should all the previous directors who have made this predicament and taken a huge chunk of money not be sued under the financial equivilant of corporate manslaughter?
5/ The companies results will equate to approx 200mil losses this year after tax/goodwills, how long will this go on???
6/ The uk division who run the group are the only loss makers in the group, is this true?
just something to get you started as test the nations on...
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Hi,
dadaposh
Quiet a few questions, so here I go:
1/ MyTravel are definitely on the up and the future is looking bright! The Scandinavian division does exceptionally well and leads TUIs offering by miles! They win Tour Operator of the year consistently! In terms of revenue, MyTravel are number two, to TUI AG.
2/ Most of the Group is back in the black. North America and Europe are doing very well. When saying 2005 for profits they aren't to short of that as essentially they did make an £8mil profit for this fiscal year. 2006 is the date they expect all divisions to be in full profit.
3/ The court ruled to the bond holders, who where originally against the restructuring but are now overwhelmingly in support of it, that they had no economic interest in MyTravel. They all know the risks of investing, especially in a market such as travel. I believe that if their main concern is focussed on how much money they can make and not the future of a company with 17K employees and over 5 mil licensed pax in the UK alone, then they shouldn't be allowed invest anywhere.
4/ I believe that the bosses deserve the money (or at least some) as they have essentially, turned the company around.
5/ This should go on until 2006.
6/ Yes, it is but I do not know the exact nature of the losses, it may be that its only a small loss from the UK.
Finally; MyTravel have a fantastic team in all divisions. I travelled to the Costa del Sol with Airtours in September and the overseas team there is faultless! They are so unbelievably friendly, helpful and courteous and also very knowledgeable.
Regards
Thomas_Cook_757-300
dadaposh
Quiet a few questions, so here I go:
1/ MyTravel are definitely on the up and the future is looking bright! The Scandinavian division does exceptionally well and leads TUIs offering by miles! They win Tour Operator of the year consistently! In terms of revenue, MyTravel are number two, to TUI AG.
2/ Most of the Group is back in the black. North America and Europe are doing very well. When saying 2005 for profits they aren't to short of that as essentially they did make an £8mil profit for this fiscal year. 2006 is the date they expect all divisions to be in full profit.
3/ The court ruled to the bond holders, who where originally against the restructuring but are now overwhelmingly in support of it, that they had no economic interest in MyTravel. They all know the risks of investing, especially in a market such as travel. I believe that if their main concern is focussed on how much money they can make and not the future of a company with 17K employees and over 5 mil licensed pax in the UK alone, then they shouldn't be allowed invest anywhere.
4/ I believe that the bosses deserve the money (or at least some) as they have essentially, turned the company around.
5/ This should go on until 2006.
6/ Yes, it is but I do not know the exact nature of the losses, it may be that its only a small loss from the UK.
Finally; MyTravel have a fantastic team in all divisions. I travelled to the Costa del Sol with Airtours in September and the overseas team there is faultless! They are so unbelievably friendly, helpful and courteous and also very knowledgeable.
Regards
Thomas_Cook_757-300
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dadaposh - i dont know who you are, but you seem to have it in for this lot, always ready to put negative comments against their plight. if you work in the industry, you should be ashamed of yourself, if you work for the company, you should leave.
dada(not posh)
just reported on bbc news that the bondholders will support the
restructuring of the company so suspect no stopping them now.
congratulations in order i think - and to all those who wished them to go bust over the past 2 yeasrs perhaps you might be in the same situation one day...............it\'s a small business
dada(not posh)
just reported on bbc news that the bondholders will support the
restructuring of the company so suspect no stopping them now.
congratulations in order i think - and to all those who wished them to go bust over the past 2 yeasrs perhaps you might be in the same situation one day...............it\'s a small business
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Once again, the MyTravel defensive cordon draws in - armed with the following "facts"
1. MyTravel face a rosy future: Everything in the garden is wonderful.
2. MyTravel's problems were entireley caused by unfavorable comments from a hostile press.
3. MyTravel's competitors are actually in much worse financial shape than MyTravel, but this information is only known by those who adhere to points 1 & 2 above.
4. Anybody who dares to question any aspect of the MyTravel fall from grace is unfeeling and treacherous.
I don't wish ill on MyTravel, and can understand the desire and need for optimism - However, it would be nice if some MyTravel defenders demonstrated a basic understanding of the grim truth, rather than a jingoistic flag waiving session. You don't make your one company "better" by knocking another, and you don't make your problems go away by ignoring them.
If you don't believe me, here's Thomas_Cook_757-300 on uniforms and again on financials
1. MyTravel face a rosy future: Everything in the garden is wonderful.
2. MyTravel's problems were entireley caused by unfavorable comments from a hostile press.
3. MyTravel's competitors are actually in much worse financial shape than MyTravel, but this information is only known by those who adhere to points 1 & 2 above.
4. Anybody who dares to question any aspect of the MyTravel fall from grace is unfeeling and treacherous.
I don't wish ill on MyTravel, and can understand the desire and need for optimism - However, it would be nice if some MyTravel defenders demonstrated a basic understanding of the grim truth, rather than a jingoistic flag waiving session. You don't make your one company "better" by knocking another, and you don't make your problems go away by ignoring them.
If you don't believe me, here's Thomas_Cook_757-300 on uniforms and again on financials
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Hi,
Sorry if you thought I was knocking TUI here but I wasn't. Its well known that VKG lead in Scandinavia and even TUI lists MyTravel as there number two competitor on there website.
Regards
Thomas_Cook_757-300
Sorry if you thought I was knocking TUI here but I wasn't. Its well known that VKG lead in Scandinavia and even TUI lists MyTravel as there number two competitor on there website.
Regards
Thomas_Cook_757-300
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Dogs_ears_up
.
Bloody right we do. People employed by MYT have been through the mill over the last 3 years. Concern over whether the company was going to survive beyond the end of each month has taken its toll on a lot of very good people. What has really gripped a lot of people is the holier than thou preaching on this bulletin board. "Oh yes, MYT will be bust by the end of the week/month/season/year." (delete as appropriate). Well contrary to a lot of peoples expectations (or hopes in some cases
) the company has survived and would now appear to have a possibility of a future. The weight that this removes from peoples shoulders is immense, so please do not kick us when we are trying to get up.
As for your 4 rather childish points, nobody in MYT holds those sort of beliefs. All employees are just grateful that the worst is (hopefully) behind us. I can assure you that after the atrocious comments that have been voiced on this, and numerous other forms of media, MYT people will be the last to bad mouth other companies.
As for MYTs problems being down to bad media coverage, nobody in the company is saying that. What people are saying is that the comments in certain media outlets did damage the business. And what really hurts is that a lot of the comments were unfounded with little or no credibility, much like a lot of the comments on Pprune. But where's the apology? More chance of snow in the rain forest!
Once again, the MyTravel defensive cordon draws in
Bloody right we do. People employed by MYT have been through the mill over the last 3 years. Concern over whether the company was going to survive beyond the end of each month has taken its toll on a lot of very good people. What has really gripped a lot of people is the holier than thou preaching on this bulletin board. "Oh yes, MYT will be bust by the end of the week/month/season/year." (delete as appropriate). Well contrary to a lot of peoples expectations (or hopes in some cases
) the company has survived and would now appear to have a possibility of a future. The weight that this removes from peoples shoulders is immense, so please do not kick us when we are trying to get up. As for your 4 rather childish points, nobody in MYT holds those sort of beliefs. All employees are just grateful that the worst is (hopefully) behind us. I can assure you that after the atrocious comments that have been voiced on this, and numerous other forms of media, MYT people will be the last to bad mouth other companies.
As for MYTs problems being down to bad media coverage, nobody in the company is saying that. What people are saying is that the comments in certain media outlets did damage the business. And what really hurts is that a lot of the comments were unfounded with little or no credibility, much like a lot of the comments on Pprune. But where's the apology? More chance of snow in the rain forest!
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Glad to see things are starting to look better at MyTravel. Flown with them a few times, wonderful crews, very polite and always going about with smiles on their faces despite what was being talked about in the media
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I'm glad I'm not a bondholder. Not much fun when you lend somebody money for an agreed amount of time, and then the borrower doesn't pay up. To add insult to injury one is offered some bits of paper as 'compensation for broken promises', that in turn will probably turn out to be worthless. Unethical, to say the least.
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54,
Unethical you say? I'm sure that ethics were at the very back of MYTs bondholders' minds. Their decision to accept the original deal appears - surprise surprise - to be based upon basic financial reasoning. Since when did ethics ever come into business? If, as you seem to imply, MYT management has played hard ball with the bondholders then well done them. They are employed to look after the interests of the company, and, unlike their predecessors, are doing a pretty good job.
If you want to talk about ethics then lets talk about all the counter productive diatribe that's been posted on this forum over the last few months regarding MYT. I for one am sick and tired of all the myopic MYT bashing that's gone on and it amuses and saddens me that various individuals seem to believe that MYTs demise should and would be a good thing for the industry. Those like 'dogs ears up' and all the others over the last year or so should be ashamed of themselves for the ill informed rubbish they've posted.
To all our many detractors, don't you dare talk about ethics when all you can do is carp about MYTs imminent downfall. Be reminded that we are talking about people's lives and their futures. It has been an extrememly difficult time for all of us at MYT and reading the constant stream of negative and ill informed bull**** from all sections of the media has been very distressing.
It appears that our future now looks a little more certain. To those of you who have predicted/looked forward to our downfall, you must be disappointed. To those who have supported us through bookings or just your kind words, thank you.
I personally look forward to MYTs continued recovery.
Unethical you say? I'm sure that ethics were at the very back of MYTs bondholders' minds. Their decision to accept the original deal appears - surprise surprise - to be based upon basic financial reasoning. Since when did ethics ever come into business? If, as you seem to imply, MYT management has played hard ball with the bondholders then well done them. They are employed to look after the interests of the company, and, unlike their predecessors, are doing a pretty good job.
If you want to talk about ethics then lets talk about all the counter productive diatribe that's been posted on this forum over the last few months regarding MYT. I for one am sick and tired of all the myopic MYT bashing that's gone on and it amuses and saddens me that various individuals seem to believe that MYTs demise should and would be a good thing for the industry. Those like 'dogs ears up' and all the others over the last year or so should be ashamed of themselves for the ill informed rubbish they've posted.
To all our many detractors, don't you dare talk about ethics when all you can do is carp about MYTs imminent downfall. Be reminded that we are talking about people's lives and their futures. It has been an extrememly difficult time for all of us at MYT and reading the constant stream of negative and ill informed bull**** from all sections of the media has been very distressing.
It appears that our future now looks a little more certain. To those of you who have predicted/looked forward to our downfall, you must be disappointed. To those who have supported us through bookings or just your kind words, thank you.
I personally look forward to MYTs continued recovery.
Moderatrix
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If you want to talk about ethics then lets talk about all the counter productive diatribe that's been posted on this forum over the last few months regarding MYT.
Last edited by Hawk; 21st Dec 2004 at 19:00.
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Sadly as you have chosen to run a forum for professional pilots and have failed to limit it to professional pilots some of us have felt duty bound to try and protect what is left of the good name of our company. I don't think you should be lecturing anyone about ethics with regard to MYT when some terrible threads have been allowed to run on these forums unchecked until recently at least.
If what I have seen posted on this subject is considered by you to be ethical I sugest you look the word up in the dictionary!
If what I have seen posted on this subject is considered by you to be ethical I sugest you look the word up in the dictionary!
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I sincerley hope MYT prosper...this has nothing at all to do with the fact that my £500 shares, bought at 4p each, are now nearly 6p and rising....(50% or £250 profit in three weeks ).
Just think if shares get to a couple of quid...
MYT shares at 6p...BUY BUY BUY....
( i hope i am not wrong, for the sake of my marriage )
HAPPY CHRISTMAS MYT AND ALL
Just think if shares get to a couple of quid...
MYT shares at 6p...BUY BUY BUY....
( i hope i am not wrong, for the sake of my marriage )
HAPPY CHRISTMAS MYT AND ALL