My Travel
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Possible bid from First Choice to buy MyTravel
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Ahh My My (pardon the pun) how times change, i remember when they were after First Choice not so long ago, I would think that would be a tasty investment for FC or TUI, I'd of thought with FC's current buying power they'd be the favourites and with FC's intrest in the American/Canadian market the ownership of SkyService fleet would be very useful and profitable to them. How's MYT getting on paying back their missing 900 million or what ever it was, got to of made a decent dent in it by now surely?
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From Travel Mole
Not sure why you would think First Choice would have greater buying power than TUI, I think it comes more down to how any suiter would view My Travel fitting into their plans. As the article points out, First Choice have been moving more towards the 'high end' tour operating market, whereas TUI have stayed with their 'bucket and spade' market and started developing a scheduled 'low fares' (they don't call it low cost) arm within their UK airline Thomsonfly and German sister Hapag Lloyd Express.
PP
City speculates on £2.5bn MyTravel takover
The City was rife with speculation yesterday about a possible £2.5 billion takeover of MyTravel as the group's shares rose before falling back again.
Rumours centred on First Choice being in the frame to bid for Airtours parent MyTravel - ironic given that the reverse was the case prior to MyTravel's well documented financial woes of four years ago.
TUI was also talked about being in the frame for MyTravel, which has seen recovery following a financial restructuring. TUI was also being linked with a move for First Choice.
First Choice shares were up 8.5 to 223.5p yesterday with MyTravel ending the day up 2.5p to 240.5p.
Industry insiders do not see the sense in First Choice moving away from a strategy of developing higher earning specialist areas such as adventure holidays.
However, it has long been thought that the so-called Big Four UK tour operators - TUI, Thomas Cook, First Choice and MyTravel - are prime candidates for consolidation particularly now they face increasing competition from no-frills airlines and online travel firms which have far lower cost bases.
Both MyTravel and First Choice announce interim results in two weeks time.
The City was rife with speculation yesterday about a possible £2.5 billion takeover of MyTravel as the group's shares rose before falling back again.
Rumours centred on First Choice being in the frame to bid for Airtours parent MyTravel - ironic given that the reverse was the case prior to MyTravel's well documented financial woes of four years ago.
TUI was also talked about being in the frame for MyTravel, which has seen recovery following a financial restructuring. TUI was also being linked with a move for First Choice.
First Choice shares were up 8.5 to 223.5p yesterday with MyTravel ending the day up 2.5p to 240.5p.
Industry insiders do not see the sense in First Choice moving away from a strategy of developing higher earning specialist areas such as adventure holidays.
However, it has long been thought that the so-called Big Four UK tour operators - TUI, Thomas Cook, First Choice and MyTravel - are prime candidates for consolidation particularly now they face increasing competition from no-frills airlines and online travel firms which have far lower cost bases.
Both MyTravel and First Choice announce interim results in two weeks time.
I'd of thought with FC's current buying power they'd be the favourites
PP
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I also cant see where the MYT long haul Airbus fleet apart from the 2 763's that Skyservice had (personally I dont use MYT for long flights due to use of 763 that was bent previously at Punta Cana )would mix well with FCA's Boeing long haul fleet & FCA the UK launch customer for the 787.
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I personally wouldn't have thought that fleet types would be the big issue, whichever airline/ parent company were to buy it would gradually change to the fleet of their choice. First Choice already have an Airbus Fleet if that makes any difference, whereas TUI are all Boeing.
I would have thought that it would be the market share that any purchaser would want to get their hands on, which again, as First Choice is actively trying to move out of the lower end of the IT market (a shrinking market due to the lo-co competition) then a purchase of My Travel would not seem to fit with this strategy.
PP
I would have thought that it would be the market share that any purchaser would want to get their hands on, which again, as First Choice is actively trying to move out of the lower end of the IT market (a shrinking market due to the lo-co competition) then a purchase of My Travel would not seem to fit with this strategy.
PP
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Some good points there, to be honest i didnt take in to account so much the UK fleet, I would think FC wouldn't be in a hurry to change it all over, I imagine they'd operate Airtours along side First Choice for a couple of years, watching their aquasitions over the past few years they've gradually intergrated them. I just imagine that Skyservice and Sunquest Canada would work nicely alongside Travel Choice shops that FC already have in Canada and the thought of a fleet overseas for FCA would seem quite juicy too, especially considering they're moving away from short haul europe market, and there isnt such a strong loco competition operating from Canada to the Caribbean.
Surely though with either an FC or TUI bid the monopolies and merger comission wont be to happy! eventually it will mean less choice for consumers which they really dont like.
Surely though with either an FC or TUI bid the monopolies and merger comission wont be to happy! eventually it will mean less choice for consumers which they really dont like.
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Since the takeover of FC by MYT was blocked by the EU a few years ago due to competition rules, why should they allow anyone to takeover MYT now?Having said that there is probably room for some consolidation in the charter market now that LCC's are eating their lunch.
There are obvious synergies when you look at the international situation re canada and skyservice.FC is also a british carrier which has a similar market share to myt.A very interesting rumour but nevertheless thats all it is.
There are obvious synergies when you look at the international situation re canada and skyservice.FC is also a british carrier which has a similar market share to myt.A very interesting rumour but nevertheless thats all it is.
Join Date: Jun 2006
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CAA AUC stats confirm MYT No 1 OTP airline Winter 2005/6, well ahead of competition. OTP appears to be good for start of summer despite problems with 2 x aircraft involved in ground damage.
Nice to see an airline willing to spend money on sub-charters to reduce delays and put passengers first. Historically, MYT like others just ran with massive delays for days. Apparently, not any more.
Futura aircraft is operating a whole line of flying at GLA, mostly under their flight designator but HRG and some Turkey flights on MYT flight number due fifth-freedom / licence issues. FUA will be operating according to MYT flight time limitations per JAR-OPS requirements. I hear BALPA consulted on operation as part of foreign carrier approval by CAA - public record. No worries about foreigners putting Brits out of work.
A321 ex-MAN is used to cover A320 at other bases when they are required on hangar check. A321 is back-filled with Boeing.
A330 sometimes used to cover disruption because it is planned stand-by aircraft on many days.
All very logical and well planned. Lets wait and see May OTP figures to see how well they still doing.
As for the bid rumours; maybe FCA and TUI just realising they are not top dogs anymore and need to buy to improve their own performance.
MYT - from basket case to sought after in just over one year. Not bad management from where I sit.
Nice to see an airline willing to spend money on sub-charters to reduce delays and put passengers first. Historically, MYT like others just ran with massive delays for days. Apparently, not any more.
Futura aircraft is operating a whole line of flying at GLA, mostly under their flight designator but HRG and some Turkey flights on MYT flight number due fifth-freedom / licence issues. FUA will be operating according to MYT flight time limitations per JAR-OPS requirements. I hear BALPA consulted on operation as part of foreign carrier approval by CAA - public record. No worries about foreigners putting Brits out of work.
A321 ex-MAN is used to cover A320 at other bases when they are required on hangar check. A321 is back-filled with Boeing.
A330 sometimes used to cover disruption because it is planned stand-by aircraft on many days.
All very logical and well planned. Lets wait and see May OTP figures to see how well they still doing.
As for the bid rumours; maybe FCA and TUI just realising they are not top dogs anymore and need to buy to improve their own performance.
MYT - from basket case to sought after in just over one year. Not bad management from where I sit.
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Mytravel- A350's or B787's as A330 replacement??
Hi all,
Just had a quick look in the current Airline world magazine, which says that Mytravel have begun detailed studies for their A330 replacement.
Are they getting "back on their feet" now financially?? As there has been rumours of take over from First Choice or Thomson.
Let's hope no take over happens and let's hope an order will be announcend in the short term for new aircraft, my bet is on the A350.
As I know Mytravel have had their fare share of problems over the last few years, like evert airline/company has, but I think they are starting to catch up with the big three UK holiday companies again, First Choice, Thomas Cook and Thomson and I hope they find their way back on top where they belong.
Long live Mytravel, even if we still have some of their planes in old hybird/Airtours livery!! Get em painted!! The rate were going, Mytravel will decide to change their livery or branding again!!
Also while on the subject of Mytravel, does anyone know what will happen to their B757-200 and their two B767-300's after the summer 2006 season, as I thought the comapny were getting rid of their Boeing fleet, or has this changed??
Many thanks in advance for any comments/suggestions on this topic.
Just had a quick look in the current Airline world magazine, which says that Mytravel have begun detailed studies for their A330 replacement.
Are they getting "back on their feet" now financially?? As there has been rumours of take over from First Choice or Thomson.
Let's hope no take over happens and let's hope an order will be announcend in the short term for new aircraft, my bet is on the A350.
As I know Mytravel have had their fare share of problems over the last few years, like evert airline/company has, but I think they are starting to catch up with the big three UK holiday companies again, First Choice, Thomas Cook and Thomson and I hope they find their way back on top where they belong.
Long live Mytravel, even if we still have some of their planes in old hybird/Airtours livery!! Get em painted!! The rate were going, Mytravel will decide to change their livery or branding again!!
Also while on the subject of Mytravel, does anyone know what will happen to their B757-200 and their two B767-300's after the summer 2006 season, as I thought the comapny were getting rid of their Boeing fleet, or has this changed??
Many thanks in advance for any comments/suggestions on this topic.
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Purely speculation on my part and I have no inside knowledge of the airline, but it appears to me that a charter airline would be more likely to pick the 787, due to the extra cabin width; the A350 can't take nine abreast, but the 787 could, quite comfortably.
I don't really see anyone else buying the A350, as it's been discredited due to the very public criticism by major airlines and leasing companies.
I don't really see anyone else buying the A350, as it's been discredited due to the very public criticism by major airlines and leasing companies.
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The A350 no longer exists it has gone back to the drawing board. As longarm says and I think too, it was going to be same width as A330. Airbus were not happy about the feedback from various airlines after their presentations, so its been put back a couple of years and a rethink by the designers.
Glad MYT are are back on their feet as well!!
Glad MYT are are back on their feet as well!!
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My Travel Recovery Plan Slips
Seems MYT's recovery plan still has some way to go - shares majorly down on todays stock market announcement.......
"Travel group MyTravel lost ground in London on Wednesday, after it slashed its 2006 profit forecast and said its U.K. business won't move back into profit this year.
Broadly, the U.K. FTSE 100 index added 0.2% at 5,906, as investors took on board a positive end to trading on Wall Street overnight. European markets were also higher.
MyTravelwas trading down 8.3% in London, having traded down as much as 20% lower earlier in the session.
The company said that it now expects to report pretax profit of 40 million to 45 million pounds for fiscal 2006, the first time it's reported a profit since 2001.
Analysts at Merrill Lynch said that they were expecting the company to earn 66 million pounds in the year, while a consensus estimate supplied by Reuters had pegged profit at 85 million pounds, the bank said.
The company also said its U.K. business is no longer expected to return to profit this year and would post a loss of 10 million to 15 million pounds.
MyTravel said that the recent U.K. security alerts and terrorist incidents in Turkey and Jordan compounded an already difficult summer trading period.
Currency and fuel costs are also expected to hurt, it added.
MyTravel also said the U.K winter trading period has started slowly and is currently being hindered by security concerns. Overall, winter charter holiday bookings are down 11% on 10% less capacity, with the average selling price up 4% , it added.
Merrill Lynch said the results highlight the execution risks of the company's turnaround plan."
"Travel group MyTravel lost ground in London on Wednesday, after it slashed its 2006 profit forecast and said its U.K. business won't move back into profit this year.
Broadly, the U.K. FTSE 100 index added 0.2% at 5,906, as investors took on board a positive end to trading on Wall Street overnight. European markets were also higher.
MyTravelwas trading down 8.3% in London, having traded down as much as 20% lower earlier in the session.
The company said that it now expects to report pretax profit of 40 million to 45 million pounds for fiscal 2006, the first time it's reported a profit since 2001.
Analysts at Merrill Lynch said that they were expecting the company to earn 66 million pounds in the year, while a consensus estimate supplied by Reuters had pegged profit at 85 million pounds, the bank said.
The company also said its U.K. business is no longer expected to return to profit this year and would post a loss of 10 million to 15 million pounds.
MyTravel said that the recent U.K. security alerts and terrorist incidents in Turkey and Jordan compounded an already difficult summer trading period.
Currency and fuel costs are also expected to hurt, it added.
MyTravel also said the U.K winter trading period has started slowly and is currently being hindered by security concerns. Overall, winter charter holiday bookings are down 11% on 10% less capacity, with the average selling price up 4% , it added.
Merrill Lynch said the results highlight the execution risks of the company's turnaround plan."
