State of play at MyTravel/Kestrel
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niteflite01, the answer is the rumours came from you, apparently.You did not to my knowledge name your sources, but you were quite happy to spread damaging rumours and idle gossip that could cost jobs. I have heard the prophets of doom but when it all turns out to be bu11***t the source of the rumour is always anonymous,funny old thing.
And Mr Growbag sounds like he is wishful thinking in order to improve his own position, and then with no small degree of arrogance stating this as a fact. Maybe there is overcapacity in the industry at the moment and some downsizing is prudent,but let us all hope that our jobs will be safe,including Mr growbag's.
It is worth noting that 2 of the big four are now German companies. Strange how their financial woes are rarely reported in the British press. If there is going to be a meltdown in the British market , I sincerely hope it will be the British who prevail.
And Mr Growbag sounds like he is wishful thinking in order to improve his own position, and then with no small degree of arrogance stating this as a fact. Maybe there is overcapacity in the industry at the moment and some downsizing is prudent,but let us all hope that our jobs will be safe,including Mr growbag's.
It is worth noting that 2 of the big four are now German companies. Strange how their financial woes are rarely reported in the British press. If there is going to be a meltdown in the British market , I sincerely hope it will be the British who prevail.
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Just what is your problem....
Fact 1. MYT has six months to prove to its backers that it can make money and clear its debts. If not, Your finished. The UK IT industry consolidates and stabilises for the next ten years.
Fact 2. Roger Burnell was a 'Hatchet Man' that hated pilots and created a lot of misery and woe for the pilots of BAL in 1990.
Fact 3. Cabin crew in BAL were purposefully targeted in 89/90 to believe that they were the ultimate importance to the profitability of the operation. This resulted on more than one occasion in having the senior crew member entering the flight deck and reach over my shoulder to press the progress page of the FMC and check the arrival time at destination. One even 'ordered' me as the Captain to enter the hold for 20 mins as she had not finished duty free sales. I don't suppose that happens now but it did then thanks to Mr Burnells distortion of the company's perception of pilots and their worth to the company. I hope you enjoy his influence.
Fact 4. I have not, and will not insult any member of staff at MYT. I am merely so saddened and sickened at the lack of intellectual maturity of the so called 'Professional Pilots' on this forum that think that by talking 'up' the problem it will go away.
Get real, **** happens. And right now it's happening to MYT.
Good luck to you all that work for it.
Oh, and my opinion of First Choice management has nothing to do with this thread. Dont abuse the server FMGS.
Fact 2. Roger Burnell was a 'Hatchet Man' that hated pilots and created a lot of misery and woe for the pilots of BAL in 1990.
Fact 3. Cabin crew in BAL were purposefully targeted in 89/90 to believe that they were the ultimate importance to the profitability of the operation. This resulted on more than one occasion in having the senior crew member entering the flight deck and reach over my shoulder to press the progress page of the FMC and check the arrival time at destination. One even 'ordered' me as the Captain to enter the hold for 20 mins as she had not finished duty free sales. I don't suppose that happens now but it did then thanks to Mr Burnells distortion of the company's perception of pilots and their worth to the company. I hope you enjoy his influence.
Fact 4. I have not, and will not insult any member of staff at MYT. I am merely so saddened and sickened at the lack of intellectual maturity of the so called 'Professional Pilots' on this forum that think that by talking 'up' the problem it will go away.
Get real, **** happens. And right now it's happening to MYT.
Good luck to you all that work for it.
Oh, and my opinion of First Choice management has nothing to do with this thread. Dont abuse the server FMGS.
Last edited by Alberts Growbag; 14th Apr 2003 at 05:54.
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Growbag
I for one am fed up with your patronising attitude! You know no more about the future of MYT or the IT industry than any of us, your patronising attitude sickens me frankly!
We all know things have been bad but the message from our new management is very positive! The proof will emerge in time and we do not need the likes of you trying to talk down to us! So get off you high horse and stop making out you know what is going on because you don’t!
Now perhaps Mr Burnell does not like pilots and perhaps he is a hatchet man, I don’t know, but no Tour Operator/Airline is run as a charity and if he brings cost savings to the company that help it survive, he has my vote. The City seems to think he has something to bring to the company so let us wait and see. In my experience effective managers are not always popular!
I firmly believe we have turned the corner and have every chance of returning the company to full health! We still have a way to go and nothing is certain. As you point out, we now appear to have some time to consolidate on changes already made and get it right. Others may not be so fortunate, especially those who have been counting on us not being around this summer.
I for one am fed up with your patronising attitude! You know no more about the future of MYT or the IT industry than any of us, your patronising attitude sickens me frankly!
We all know things have been bad but the message from our new management is very positive! The proof will emerge in time and we do not need the likes of you trying to talk down to us! So get off you high horse and stop making out you know what is going on because you don’t!
Now perhaps Mr Burnell does not like pilots and perhaps he is a hatchet man, I don’t know, but no Tour Operator/Airline is run as a charity and if he brings cost savings to the company that help it survive, he has my vote. The City seems to think he has something to bring to the company so let us wait and see. In my experience effective managers are not always popular!
I firmly believe we have turned the corner and have every chance of returning the company to full health! We still have a way to go and nothing is certain. As you point out, we now appear to have some time to consolidate on changes already made and get it right. Others may not be so fortunate, especially those who have been counting on us not being around this summer.
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State of play at MyTravel/Kestrel
Sorry to bring it back to the original topic, but I recently got offered a No2 seasonal cabin crew job with MyTravel/MyTravel Lite out of BHX (at least they don't ask for 2,500 hrs and an A320 type-rating for that), and it was mentioned they needed two dozen (!) No2s for Brum alone, while the seasonal juniors' training course has already started.
Also, MyTravel have received 1 A320 and 2 A321s so far this year, and Lite is going from 2 to 4 A320s. Maybe I'm wrong, but I can't imagine they wouldn't have delayed deliveries and thought twice about the expense of hiring and training so many cabin crew if they were neck-deep in the s..t!
Fouga Magister
Also, MyTravel have received 1 A320 and 2 A321s so far this year, and Lite is going from 2 to 4 A320s. Maybe I'm wrong, but I can't imagine they wouldn't have delayed deliveries and thought twice about the expense of hiring and training so many cabin crew if they were neck-deep in the s..t!
Fouga Magister
Ut Sementem Feeceris
Fact,
These aircraft were ordered over three years ago - not in the last few months. It is not fleet expansion, it is fleet rollover - new for old. This is the reason there are so many "hybrid" MYT/Airtours colour schemes flying around at the moment. Why spend money painting it if it's going back to the lessor in a few months?
Without a doubt, we (and others) are in very tough times. The management and staff are working TOGETHER (shock horror) to drive efficiencies to ensure our survival. This has included an "ask the staff where we can save money process". Many ideas from this are already being implemented with resulting savings.
The stratgic review has been on going since November and one result was the announcment of 2,000 redundancies to the GROUP, WORLDWIDE over the next 2 years. There will be some in the airline no doubt, but as far as I am aware, the airline is one of the shining lights within the group and is doing it's best to become even better.
I'm not naive - I know that our fate does not lie purely in our hands, but my feeling is that the company (particularly the airline) and it's staff are doing their utmost to get the job done and rectify the utter 8alls up that happened last year.
We have taken some very tough decisions already. Perhaps there are other operators out there who may be forced into similar action sooner than they would rather.
We've been through the proverbial mill in the last few months and it is not a nice feeling at all. I wish luck to all in this great industry over the coming months and hopefully years.
A4
These aircraft were ordered over three years ago - not in the last few months. It is not fleet expansion, it is fleet rollover - new for old. This is the reason there are so many "hybrid" MYT/Airtours colour schemes flying around at the moment. Why spend money painting it if it's going back to the lessor in a few months?
Without a doubt, we (and others) are in very tough times. The management and staff are working TOGETHER (shock horror) to drive efficiencies to ensure our survival. This has included an "ask the staff where we can save money process". Many ideas from this are already being implemented with resulting savings.
The stratgic review has been on going since November and one result was the announcment of 2,000 redundancies to the GROUP, WORLDWIDE over the next 2 years. There will be some in the airline no doubt, but as far as I am aware, the airline is one of the shining lights within the group and is doing it's best to become even better.
I'm not naive - I know that our fate does not lie purely in our hands, but my feeling is that the company (particularly the airline) and it's staff are doing their utmost to get the job done and rectify the utter 8alls up that happened last year.
We have taken some very tough decisions already. Perhaps there are other operators out there who may be forced into similar action sooner than they would rather.
We've been through the proverbial mill in the last few months and it is not a nice feeling at all. I wish luck to all in this great industry over the coming months and hopefully years.
A4
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Willowman, not entirely correct re AE. From where I was sitting at the time it was speculation on aircraft futures that didn't help AE's ability to weather the storm.
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Flew with MYT MAN-FUE-MAN just last week on the A321, and the inbound flight was on one of the new A321s. The cabin crew said it had been in the fleet "less than eight weeks" and that "the entertainment system was installed, but could not be used as it had not been inspected by the CAA." How long does it take to get the entertainment system certified, +8 weeks?
In relation to the initial topic, the A321 was full going out and full bar 3 seats coming back, there was also a DC10-10 flying an almost identical schedule, +45 mins, which seemed to be pretty busy looking at the people in departures at FUE. I know load factors don't necessarily represent profits, but surely things arn't looking that bad... ?
Also, there are several adverts in their inflight magazine for Cabin Crew/ Sales Consultants etc. Why would they be hiring so extensively if they wern't busy/ were going under?
In relation to the initial topic, the A321 was full going out and full bar 3 seats coming back, there was also a DC10-10 flying an almost identical schedule, +45 mins, which seemed to be pretty busy looking at the people in departures at FUE. I know load factors don't necessarily represent profits, but surely things arn't looking that bad... ?
Also, there are several adverts in their inflight magazine for Cabin Crew/ Sales Consultants etc. Why would they be hiring so extensively if they wern't busy/ were going under?
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Because it's business as usual until the banks say otherwise.
And what did all those punters on all those full airplanes actually pay for their seats? No profit, no future!
And Tightslot? Those seniors didn't need long arms because they just pushed me out of the way. And I was in the left seat!
And what did all those punters on all those full airplanes actually pay for their seats? No profit, no future!
And Tightslot? Those seniors didn't need long arms because they just pushed me out of the way. And I was in the left seat!
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Not much command presence then Growbag!
Get off the no profit hobbyhorse there's a good chap, we all are fully aware of that one thanks! Johnwalton even made the point in his post, had you taken the trouble to read it!
Why is it that you seem to feel it is OK to talk the company down but anyone who feels things are looking better is deluded or naive? As I said before you know no more than the rest of us.
Get off the no profit hobbyhorse there's a good chap, we all are fully aware of that one thanks! Johnwalton even made the point in his post, had you taken the trouble to read it!
Why is it that you seem to feel it is OK to talk the company down but anyone who feels things are looking better is deluded or naive? As I said before you know no more than the rest of us.
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BBC tv news 21 April
What's the score with these latest gloomy reports on Breakfast tv? The porky Irish business correspondent said that the weekend meeting between MYT and the government (Alastair Darling, Transport Minister) spelt further problems, yet the Reuters reports in the press are up-beat.
Is the BBC (Business-Bashing Corporation) doing it's usual job of scare-mongering, to raise viewing figures, or is the news really serious? Personally, I haven't trusted BBC news recently. Then again, in this particular case, I am also biased.
Is the BBC (Business-Bashing Corporation) doing it's usual job of scare-mongering, to raise viewing figures, or is the news really serious? Personally, I haven't trusted BBC news recently. Then again, in this particular case, I am also biased.
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Not just BBC - the AOL business section suggests that the Department of Transport and the CAA are concerned that MYT may be unable to cover travel guarantee bonds in the near future. The last CAA/MYT meeting took place on April 9th and is ongoing. MYT state that their bond state is currently covered by present financial state.
I've only made a few posts so I don't feel the need to order a Personal Title and help support PPRuNe
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MyTravel guys, you are trying to shoot the messenger all the time. I doubt any of us in the industry want to see anyone made redundant but moaning at everyone because they are talking about the problems caused by poor management at your company isn't going to make the problem go away.
Govt. in talks with CAA about MyTravel
Source: Daily Telegraph - Business
______________________________________________
Alistair Darling, the secretary of state for transport, has held a series of meetings with the Civil Aviation Authority to examine the affairs of MyTravel.
The country's second largest package holiday company, formerly known as Airtours, has been hit by a series of profit warnings and accounting scandals which have fuelled concerns about that the business.
MyTravel's share price has nosedived from 283.5p last year to 12p last week. The company plunged into the red in 2002, reporting pre-tax losses for the year to September of £72.5m. This followed an investigation into its accounting procedures which uncovered errors amounting to £70.6m.
Darling most recently met the CAA on Wednesday April 6 to discuss MyTravel's plight. The Government could be liable to help foot the bill should a major tour operator or package holiday group collapse.
The Department of Transport has recently pledged taxpayers' money to support the Air Travel Trust. This emergency compensation fund acts as back-up to meet any shortfall to the so-called ATOL financial bond put up by companies to repatriate or reimburse customers.
A spokeswoman for the Department of Transport confirmed Darling's liaison with the CAA. "The secretary of state did meet with the CAA and has done so on a number of occasions to discuss MyTravel," she said.
"The CAA is keeping the department informed. The secretary of state offered no advice on what action it [the CAA] should take on this matter."
The CAA has been closely monitoring MyTravel since its financial problems started to emerge last year. In November MyTravel was forced to restate its 2001 results after an overhaul of its accounting procedures.
The CAA regulates holiday firms on matters such as airline safety and it also controls the ATOL bond scheme. This requires all holiday firms to provide a financial guarantee that can be used by the CAA to repatriate stranded holidaymakers or pay customers back if holidays are cancelled because a firm goes out of business.
Although the CAA has direct regulatory control over MyTravel, the secretary of state for transport is accountable to Parliament for the CAA's proper discharge of its duties.
Helen Simpson, the CAA's director of consumer protection, said: "The message to MyTravel customers is that MyTravel holds its ATOL licence and is fully protected."
MyTravel shareholders have seen the company's market capitalisation shrink from £1.4bn last year to just £60m. The company is in protracted talks with a syndicate of banks over the refinancing of about £470m of debt. It also has more than £600m of off-balance sheet liabilities, such as aircraft leases.
MyTravel stunned investors with three profit warnings in five months last year. Tim Byrne, the chief executive, left in October with a £1.2m pay-off. David Crossland, the company's founder, has also stepped down as MyTravel chairman.
The company has decided to cut 2,000 jobs from its 23,000 full-time workforce to cut costs and improve its financial position. At its annual general meeting last month Eric Sanderson, the new chairman of MyTravel, said he recognised that the company's performance had been unacceptable.
The company warned that since its preliminary results announcement last November, trading had been difficult. It said bookings had deteriorated in recent weeks. The war in Iraq has added to MyTravel's problems.
It has also emerged that the Air Travel Trust is itself in deficit by £8.9m. Although it has a borrowing facility of £21m, the CAA has urged the Department of Transport to put the trust on a firmer financial footing.
Source: Daily Telegraph - Business
______________________________________________
Alistair Darling, the secretary of state for transport, has held a series of meetings with the Civil Aviation Authority to examine the affairs of MyTravel.
The country's second largest package holiday company, formerly known as Airtours, has been hit by a series of profit warnings and accounting scandals which have fuelled concerns about that the business.
MyTravel's share price has nosedived from 283.5p last year to 12p last week. The company plunged into the red in 2002, reporting pre-tax losses for the year to September of £72.5m. This followed an investigation into its accounting procedures which uncovered errors amounting to £70.6m.
Darling most recently met the CAA on Wednesday April 6 to discuss MyTravel's plight. The Government could be liable to help foot the bill should a major tour operator or package holiday group collapse.
The Department of Transport has recently pledged taxpayers' money to support the Air Travel Trust. This emergency compensation fund acts as back-up to meet any shortfall to the so-called ATOL financial bond put up by companies to repatriate or reimburse customers.
A spokeswoman for the Department of Transport confirmed Darling's liaison with the CAA. "The secretary of state did meet with the CAA and has done so on a number of occasions to discuss MyTravel," she said.
"The CAA is keeping the department informed. The secretary of state offered no advice on what action it [the CAA] should take on this matter."
The CAA has been closely monitoring MyTravel since its financial problems started to emerge last year. In November MyTravel was forced to restate its 2001 results after an overhaul of its accounting procedures.
The CAA regulates holiday firms on matters such as airline safety and it also controls the ATOL bond scheme. This requires all holiday firms to provide a financial guarantee that can be used by the CAA to repatriate stranded holidaymakers or pay customers back if holidays are cancelled because a firm goes out of business.
Although the CAA has direct regulatory control over MyTravel, the secretary of state for transport is accountable to Parliament for the CAA's proper discharge of its duties.
Helen Simpson, the CAA's director of consumer protection, said: "The message to MyTravel customers is that MyTravel holds its ATOL licence and is fully protected."
MyTravel shareholders have seen the company's market capitalisation shrink from £1.4bn last year to just £60m. The company is in protracted talks with a syndicate of banks over the refinancing of about £470m of debt. It also has more than £600m of off-balance sheet liabilities, such as aircraft leases.
MyTravel stunned investors with three profit warnings in five months last year. Tim Byrne, the chief executive, left in October with a £1.2m pay-off. David Crossland, the company's founder, has also stepped down as MyTravel chairman.
The company has decided to cut 2,000 jobs from its 23,000 full-time workforce to cut costs and improve its financial position. At its annual general meeting last month Eric Sanderson, the new chairman of MyTravel, said he recognised that the company's performance had been unacceptable.
The company warned that since its preliminary results announcement last November, trading had been difficult. It said bookings had deteriorated in recent weeks. The war in Iraq has added to MyTravel's problems.
It has also emerged that the Air Travel Trust is itself in deficit by £8.9m. Although it has a borrowing facility of £21m, the CAA has urged the Department of Transport to put the trust on a firmer financial footing.
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As I understand it, MYT doesn,t actually lodge any money for its ATOL licence bond. It just provides a letter from it's bankers that says that if the company ceases trading the bank will pay the bond. MYT pays a fee to the bank for this letter, which is probably renewable/renegotiated once a year. The size of the fee depends on the chance of the bank being able to recover the bond from the ashes of the company when it dies, and it also depends on competition from the other banks for this lucrative business ( i.e. promising to pay huge sums of money that will probably never have to be paid - meanwhile the banks use that same huge sum of money to underwrite promises to other businesses as well). If the banks are being awkward about the next letter and the CAA are getting nervous (which is why Alasdair Darling is getting involved), then the banks are either trying to improve their own bottom line or they are seriously worried about about MYTs bottom line. It is one or the other, or possibly a bit of both - but very unlikely to mean that everything is 'business as usual' at MYT.
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How about this version. The same facts, with a subtle change of emphasis, and one or two new facts introduced:
[quote]
Alistair Darling, the secretary of state for transport, has held a series of meetings with the Civil Aviation Authority to examine the affairs of MyTravel.
The country's second largest package holiday company, formerly known as Airtours, has been hit by a series of profit warnings and accounting scandals, which fuelled concerns about the business.
MyTravel's share price nosedived from 283.5p to 12p in the turbulent period since the September 11th terrorist atrocities. Following the discovery of errors in accounting procedures, amounting to £70.6m, the company plunged into the red in 2002, reporting pre-tax losses of £72.5m.
Darling most recently met the CAA on Wednesday April 6, the day after the share price bottomed at 7.5p, to discuss MyTravel's plight. The Government could be liable to help foot the bill should a major tour operator or package holiday group collapse.
The Department of Transport has recently pledged taxpayers' money to support the Air Travel Trust. This emergency compensation fund acts as back-up to meet any shortfall to the so-called ATOL financial bond put up by companies to repatriate or reimburse customers.
A spokeswoman for the Department of Transport confirmed Darling's liaison with the CAA. "The secretary of state did meet with the CAA and has done so on a number of occasions to discuss MyTravel," she said. Since the meeting the shares have soared to 14p: a gain of 87%.
"The CAA is keeping the department informed. The secretary of state offered no advice on what action it [the CAA] should take on this matter."
The CAA has been closely monitoring MyTravel since its financial problems started to emerge last year. In November MyTravel was forced to restate its 2001 results after an overhaul of its accounting procedures.
The CAA regulates holiday firms on matters such as airline safety and it also controls the ATOL bond scheme. This requires all holiday firms to provide a financial guarantee that can be used by the CAA to repatriate stranded holidaymakers or pay customers back if holidays are cancelled because a firm goes out of business.
Although the CAA has direct regulatory control over MyTravel, the secretary of state for transport is accountable to Parliament for the CAA's proper discharge of its duties.
Helen Simpson, the CAA's director of consumer protection, said: "The message to MyTravel customers is that MyTravel holds its ATOL licence and is fully protected."
MyTravel shareholders have seen the company's market capitalisation shrink from £1.4bn last year to just £60m. The company is in protracted talks with a syndicate of banks over the refinancing of about £470m of debt. It also has more than £600m of off-balance sheet liabilities, such as aircraft leases.
MyTravel stunned investors with three profit warnings in five months last year, as the accounting errors became apparent. Tim Byrne, the chief executive, left in October with a remarkably generous £1.2m pay-off. David Crossland, the company's founder, has also stepped down as MyTravel chairman.
The company has made major strides to cut costs and improve its financial position by cutting 2,000 jobs from its 23,000 full-time workforce. At its annual general meeting last month Eric Sanderson, the new chairman of MyTravel, said he recognised that the company's performance had been unacceptable.
The company admitted that since its preliminary results announcement last November, trading had been difficult. It said bookings had deteriorated in recent weeks, as the war in Iraq added to the problems suffered by the World's airlines.
As an aside, it has also emerged that the Department of Transport's Air Travel Trust itself is in deficit by £8.9m, although it has a borrowing facility of £21m. The CAA has urged the Department of Transport to put the trust on a firmer financial footing.
[quote]
[quote]
Alistair Darling, the secretary of state for transport, has held a series of meetings with the Civil Aviation Authority to examine the affairs of MyTravel.
The country's second largest package holiday company, formerly known as Airtours, has been hit by a series of profit warnings and accounting scandals, which fuelled concerns about the business.
MyTravel's share price nosedived from 283.5p to 12p in the turbulent period since the September 11th terrorist atrocities. Following the discovery of errors in accounting procedures, amounting to £70.6m, the company plunged into the red in 2002, reporting pre-tax losses of £72.5m.
Darling most recently met the CAA on Wednesday April 6, the day after the share price bottomed at 7.5p, to discuss MyTravel's plight. The Government could be liable to help foot the bill should a major tour operator or package holiday group collapse.
The Department of Transport has recently pledged taxpayers' money to support the Air Travel Trust. This emergency compensation fund acts as back-up to meet any shortfall to the so-called ATOL financial bond put up by companies to repatriate or reimburse customers.
A spokeswoman for the Department of Transport confirmed Darling's liaison with the CAA. "The secretary of state did meet with the CAA and has done so on a number of occasions to discuss MyTravel," she said. Since the meeting the shares have soared to 14p: a gain of 87%.
"The CAA is keeping the department informed. The secretary of state offered no advice on what action it [the CAA] should take on this matter."
The CAA has been closely monitoring MyTravel since its financial problems started to emerge last year. In November MyTravel was forced to restate its 2001 results after an overhaul of its accounting procedures.
The CAA regulates holiday firms on matters such as airline safety and it also controls the ATOL bond scheme. This requires all holiday firms to provide a financial guarantee that can be used by the CAA to repatriate stranded holidaymakers or pay customers back if holidays are cancelled because a firm goes out of business.
Although the CAA has direct regulatory control over MyTravel, the secretary of state for transport is accountable to Parliament for the CAA's proper discharge of its duties.
Helen Simpson, the CAA's director of consumer protection, said: "The message to MyTravel customers is that MyTravel holds its ATOL licence and is fully protected."
MyTravel shareholders have seen the company's market capitalisation shrink from £1.4bn last year to just £60m. The company is in protracted talks with a syndicate of banks over the refinancing of about £470m of debt. It also has more than £600m of off-balance sheet liabilities, such as aircraft leases.
MyTravel stunned investors with three profit warnings in five months last year, as the accounting errors became apparent. Tim Byrne, the chief executive, left in October with a remarkably generous £1.2m pay-off. David Crossland, the company's founder, has also stepped down as MyTravel chairman.
The company has made major strides to cut costs and improve its financial position by cutting 2,000 jobs from its 23,000 full-time workforce. At its annual general meeting last month Eric Sanderson, the new chairman of MyTravel, said he recognised that the company's performance had been unacceptable.
The company admitted that since its preliminary results announcement last November, trading had been difficult. It said bookings had deteriorated in recent weeks, as the war in Iraq added to the problems suffered by the World's airlines.
As an aside, it has also emerged that the Department of Transport's Air Travel Trust itself is in deficit by £8.9m, although it has a borrowing facility of £21m. The CAA has urged the Department of Transport to put the trust on a firmer financial footing.
[quote]