Monarch - 3
Buster, try reading the accounts. (Freely available on many websites) and you will see that all of the costs associated with getting rid of the Airbus were put into the last set of accounts.
This is much more interesting,
British Steel rescuer Greybull eyes swoop on ailing Alitalia
This is much more interesting,
British Steel rescuer Greybull eyes swoop on ailing Alitalia
Last edited by tubby linton; 14th Aug 2017 at 19:40.
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Buster, try reading the accounts. (Freely available on many websites) and you will see that all of the costs associated with getting rid of the Airbus were put into the last set of accounts.
This is much more interesting,
British Steel rescuer Greybull eyes swoop on ailing Alitalia
This is much more interesting,
British Steel rescuer Greybull eyes swoop on ailing Alitalia
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nwoody2001
My post 4005 was in reply to post 3999 "I suspect the accounting adjustment for the Airbuses wouldn't have been needed if they weren't getting rid of them before the end of the contracts."
My answer in post 4005 was they were not returning any early.
They are being returned as and when the leases are due to finish.
My answer in post 4005 was they were not returning any early.
They are being returned as and when the leases are due to finish.
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That's fine but your still looking at an airline that doesn't make any money.
Looking at fares readily available for all operators it seems there is more supply than demand. I was just pointing out that Monarch need to be having a good summer. You can only Pi55 into the wind for so long before you end up getting wet.
Looking at fares readily available for all operators it seems there is more supply than demand. I was just pointing out that Monarch need to be having a good summer. You can only Pi55 into the wind for so long before you end up getting wet.
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Not sure how anyone can think Greybull has the capital to purchase the Boeing 737 max aircraft.
I questioned on this forum 18 months ago the policy of Monarch getting rid of fairly new aircraft and replacing with older aircraft.
many memebers threw my comments back in my face.
These accounts (filed late) show a reduction in aircraft asset worth of £80m due to the new mix, the figures dont lie.
The Onerous Contract provision of £198.1M relates to lease costs being higher then revenue over the lease periods and the Impairment of Aircraft costs of £102.762M relating to cost to be outlayed to ensure leased aircaft can be returned without a liability.
management can see no change in leased position until 2022 and hope that building up the holiday side will bear fruit.
Cosmo holidays now renamed Monarch Holidays has seen a reduction of 25% in sales, not going in the right direction for this plan to work.
The £150M Greybull put in last October has now been accounted for, where is the £1B needed for the new aircraft.
Fortunatley as seat only sales no longer ATOL covered, the renewal of the ATOL insurance at the end of September should not be as difficult as last year, but we have no knowledge of the last 10 months trading other the companys comment that they saw profits down 35% on 2016 levels. Greybull are likley to have to find funds even for the shrinking ATOL cover as its unlikly to be covered by this years profits.
I questioned on this forum 18 months ago the policy of Monarch getting rid of fairly new aircraft and replacing with older aircraft.
many memebers threw my comments back in my face.
These accounts (filed late) show a reduction in aircraft asset worth of £80m due to the new mix, the figures dont lie.
The Onerous Contract provision of £198.1M relates to lease costs being higher then revenue over the lease periods and the Impairment of Aircraft costs of £102.762M relating to cost to be outlayed to ensure leased aircaft can be returned without a liability.
management can see no change in leased position until 2022 and hope that building up the holiday side will bear fruit.
Cosmo holidays now renamed Monarch Holidays has seen a reduction of 25% in sales, not going in the right direction for this plan to work.
The £150M Greybull put in last October has now been accounted for, where is the £1B needed for the new aircraft.
Fortunatley as seat only sales no longer ATOL covered, the renewal of the ATOL insurance at the end of September should not be as difficult as last year, but we have no knowledge of the last 10 months trading other the companys comment that they saw profits down 35% on 2016 levels. Greybull are likley to have to find funds even for the shrinking ATOL cover as its unlikly to be covered by this years profits.
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From looking in it seems like Greybull have access to lots of credit. Surely the £165million investment just under 11 months ago was part of a long term strategy. The tie up with Boeing also suggests that one of the worlds biggest manufacturers also have faith in the plan. If I was running a business and was having a less favourable trading position than expected I would use the opportunity to sink some losses at once rather eek out costs year on year and consequently reap the future benefits. But I'm no accountant or CEO so have no idea.
