Euromanx- 2
Join Date: Apr 2007
Location: Isle Of Man
Age: 40
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man overboard?
Rumors in the Railway at dinnertime that theres going to be a very top level resignation announced by Euros tomorrow.anyone herd anything
Is it to do with the Telegraph loans story?
Is it to do with the Telegraph loans story?
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Ok so EuroManx sign a 15million USD deal for the dash's. It shows two things. One is that someone has agreed to lend them the money and secondly for that to happen it would mean that their debt is at worst manageable. So that would suggest that whatever has happened at HBOS is not a big deal for EuroManx. Also all the talk of mergers, why would anybody be interested in merging?? it seems that recent developments have been a long time coming, consolidation in the market has been needed and now with FlyBe and EuroManx almost equal in market share, the smaller carriers like Manx2 and Eastern can fill in the gaps!
Join Date: Feb 2005
Location: UAE
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If there is a resignation in my opion it is completly unjust, the financing of the airline was always in the hands of its directors who have nothing to do with the day to day running of the business. I hope the take their share of any pain being handed out.
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Hansol what pain are you referring to? So far there has been no hard evidence to base any of these rumours. All that is confirmed is HBOS have dismissed somebody that leant the money to an airline that is 99% certain to be EuroManx. I there is a dismissal then that would be a sign that there may be problems. What source are you basing the idea of the dismissal on??
Join Date: Feb 2005
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Red, I think the scale of unsecured lending to EM is very large, if that is pulled away the future is going to be challenging. Why would another bank lend, what security could be given, if HBOS want their millions back who is going to pay.
I think it was IOMSpotter that mentioned resignation not me.
I think it was IOMSpotter that mentioned resignation not me.
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My Post was just in general to both IOMspotter and Hansol. My point is just that if the problems are as bad as some of this talk makes it sound then how have EuroManx obtained finance for the Dash's? A bank/investor is not going to give finance to a company with crippling debt's!
Therefore it would suggest that EuroManx are NOT in such bad shape.
Only a suggestion.
UNLESS
The person rom HBOS has found a place in another bank!!
Therefore it would suggest that EuroManx are NOT in such bad shape. Only a suggestion.
UNLESS
The person rom HBOS has found a place in another bank!!
Join Date: Feb 2005
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or whoever lent on the Dash's had no idea of the earlier borrowings.
Anyway we shouldn't speculate I am sure JS and the team there will be doing all they can to keep the airline going.
Anyway we shouldn't speculate I am sure JS and the team there will be doing all they can to keep the airline going.
Join Date: Nov 2005
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Several recent posts moved here: http://www.pprune.org/forums/showthread.php?t=281581
Join Date: Dec 2005
Location: Isle of Man
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Just booked another IOM/LCY return...
I see the credit card surcharge has now doubled to £6 and the minimum charge for changing a booking has doubled to £20
Under financial pressure? Copying the competition's charges?
All I know is this attack on my wallet means I shall now look for the lowest fare every time. The quality of service arguement has gone (sorry Melissa - you were an inspiration!)
So IOM/London has two players competing in the lowcost/small service arena. I remain jealous of our Jersey chums who still enjoy competition and choice between low cost and full service.
I see the credit card surcharge has now doubled to £6 and the minimum charge for changing a booking has doubled to £20
Under financial pressure? Copying the competition's charges?
All I know is this attack on my wallet means I shall now look for the lowest fare every time. The quality of service arguement has gone (sorry Melissa - you were an inspiration!)
So IOM/London has two players competing in the lowcost/small service arena. I remain jealous of our Jersey chums who still enjoy competition and choice between low cost and full service.