MK possible grounding due funds

[africa man]

Hearing rumours of a possible Grounding by UK CAA due to insufficent funds to continue flying anybody confirm or deny !!!!!!!

[Twitcher]

There is already a thread running in the rumours & news section on this.
No real news known yet but maybe the company has stopped itself flying over money worries as opposed to the CAA having grounded them. Hopefully we'll be enlightened today.

[crewman 355]

MK was in the hands of the official administrater this afternoon gents

[Coleman Myers]

This does'nt mean MK is finished. Everybody is grappling with fuel related costs. Here's hoping a hard nosed investor see's beyond this and keeps MK flying.

[Kitsune]

As soon as this happens, even the rumour of it, you have to start paying for fuel/handling/etc cash only, that's what really screws you..... :(

[altayaara]

Friends in Ostend, report 3 Boeing 747 at Ostend Airport Belgium. One is parked since saturday (ex flying tigers), another one since sunday (full mk livery) and a third one is parked since today ( ex china airlines).

Mk normally never stays over 24 h parked in Ostend.

[Coleman Myers]

I am told that one major shareholder is out. If there was a dispute between shareholders which resultd in a failed cash call then liquidation or administration would probably be the best option. This does not mean the end of an airline and in some cases happily just the beginning !!!.

[ex dog]

Coleman , if correct its another sad day for an African Airline , but there are not many investors today who will sacrifice huge amounts of money , when the price of fuel is ever increasing

[dionysius]

As well as the spiralling cost of fuel, I think the fact that they went through a large amount of engine changes over the past 12 months must have been very expensive.

Sad day for another cargo outfit.

[Coleman Myers]

I had heard frommy contact that their engine program had been racked by bad luck and under investment - hard old birds to keep going