Monarch - 3
Join Date: Apr 2010
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In deals like this the lawyers drag things out until the last minute finding more more obscure issues (and charges) and the finance guys hold on to try and extort an even better deal from the victim
Unfortunately sometimes it DOESN'T all come together at the last moment............
Unfortunately sometimes it DOESN'T all come together at the last moment............
Join Date: Feb 2001
Location: Denmark
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The GBP:USD means a foreign investment in ZB is cheaper today than yesterday, but will also seriously spook foreign investors. GBP fluctuations are making the Zimbabwean dollar look like a safe haven.
The sterling devaluation also killed EZY profits, which demonstrates how brexit uncertainty has impacted UK airlines.
The sterling devaluation also killed EZY profits, which demonstrates how brexit uncertainty has impacted UK airlines.
Join Date: Jun 2015
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They still made close to a half billion in profits which ain't all that bad. It's the share price and compaitave cheapness of buying the airline in £ which is the risk to eJ right now.
Originally Posted by Copenhagen
The sterling devaluation also killed EZY profits,
Originally Posted by HeartyMeatballs
They still made close to a half billion in profits
Originally Posted by Brigantee
Half a billion? Thought it was around 40 million
https://www.theguardian.com/business...rdinary-events
Though you may be confusing Monarch and eJ at this point.
Join Date: Oct 2003
Location: UK
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HH, You've previously said that you wouldn't like Monarch to go bust. It certainly doesn't sound like it, or it at least it sounds like you'd enjoy it to play out like some knife-edge, high tension drama. Hundreds and hundreds of people's livelihoods are tied up in all this and everyone is aware what could possibly happen. So why don't you just get a life, stop the doom and gloom speculation and wait and see what happens.
Join Date: Feb 2001
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Brexit is no doubt a factor in easyJets reduced profitability, but not the whole story by a long way, they have also lost load factor, LGW delays, French ATC, Sharm the list goes on add terror attacks in France, Turkey and boat people in the Greek Islands, pick what every you like, having said that these issues affect many airlines, meanwhile Ryanair and Norwegian are showing volume growth and increased load factor.
EasyJets cost base is I suspect higher than either of the above
EasyJets cost base is I suspect higher than either of the above
Join Date: Aug 2004
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Ryanair and Norwegian are less dependant on the pound (Ryanair € and Norwegian NOK/€), with Monarch and easyJet more pound based (hence why it is likely to hit them more).
The current devolution of the pound has highlighted the need to keeps costs down and that will be a challenge for whoever takes over Monarch.
The current devolution of the pound has highlighted the need to keeps costs down and that will be a challenge for whoever takes over Monarch.
Monarch are dependent on the £ because most of their pax pay in £ yet some of their costs are in dollars (Fuel) or Euros (handling, nav charges, etc).
EasyJet on the other hand have a huge euro revenue, so are less exposed to sterling weakness.
EasyJet on the other hand have a huge euro revenue, so are less exposed to sterling weakness.
Join Date: Feb 2001
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Aircraft leases, fuel, overseas handling, nav charges and overseas staffing are up to 20% more expensive then they were a year ago, just because of brexit uncertainty.
I would bet that 90% + of ZB revenue is in GBP.
I would bet that 90% + of ZB revenue is in GBP.
Join Date: Apr 2010
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Just trying to add a bit of realism - and it IS a high tension drama - they only have a very limited time to come up with the cash. History shows that some companies make it and some don't.... but sitting with your hands over your ears and hoping it will all go away isn't a very wise option TBH
I've been in a couple of companies that have hit the wall and I wouldn't wish it on anyone. The personal anguish and disruption are really horrible
I've flown on Monarch reasonably often and have always thought they were at the better end of the spectrum for what it's worth. It would be terrible shame to lose them.
I've been in a couple of companies that have hit the wall and I wouldn't wish it on anyone. The personal anguish and disruption are really horrible
I've flown on Monarch reasonably often and have always thought they were at the better end of the spectrum for what it's worth. It would be terrible shame to lose them.
Join Date: Oct 2012
Location: Wales
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Why the silence
Hi
I am sure that Monarch would not make any announcements while discussions are ongoing and will only say something when everything is signed, sealed and delivered. I would not read anything in to the fact that there has not been any announcements so far. Hope things are going on OK
I am sure that Monarch would not make any announcements while discussions are ongoing and will only say something when everything is signed, sealed and delivered. I would not read anything in to the fact that there has not been any announcements so far. Hope things are going on OK
Join Date: Jul 2005
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I guess part of the reason for the silence is that Monarch's press release about the temporary extension was worded carefully so as to have the effect that someone who didn't know about the issues would think it was saying that the problem was permanently resolved.
Join Date: Mar 2001
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I'd have to side with HH here, a hint of realism is what is necessary.
I don't believe any professional pilot would wish for any airline to go down the swanny, even if that airline is in direct competition with the one we work for. Having been there, as many many of us have, some on more that one or two occasions we wouldn't wish it on anybody. There was a supposed investor standing in the wings when the airline that I worked for went under, sadly the investment didn't materialise despite the promises.
I don't believe any professional pilot would wish for any airline to go down the swanny, even if that airline is in direct competition with the one we work for. Having been there, as many many of us have, some on more that one or two occasions we wouldn't wish it on anybody. There was a supposed investor standing in the wings when the airline that I worked for went under, sadly the investment didn't materialise despite the promises.
Join Date: Feb 2004
Location: Manchester, UK
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Breaking news on Sky. £160m investment by shareholders to be announced on Wednesday. Included in announcement is a deal with Boeing to sell and lease back the 45 new a/c they have on order that will free up significant additional funds ?? Typical shallow depth of knowledge from the press, so that Boeing deal as they described it made little sense, Wednesday should reveal more.
Join Date: Feb 2012
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