MYT
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Joined: Jun 2003
Posts: 28
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From: the moon
MyTravel
MyTravel have issued what seems to be another profit warning blaming a weak late summer season due to holidays been sold at discount rates. Some people think this was to be expected whilst others seem surprised.
MyTravel say they have further non core businesses that are to be sold to raise cashflow and that winter 2003/2004 and summer 2004 was encouraging and within acceptable limits.
What are your views on MyTravel chance of survival? Do you think they will reduce the company to just uk operations and sell off everything else or do you think it's the beginning of the end.
I hope they pull through, lots of people did not think they would still be here in November.
MyTravel say they have further non core businesses that are to be sold to raise cashflow and that winter 2003/2004 and summer 2004 was encouraging and within acceptable limits.
What are your views on MyTravel chance of survival? Do you think they will reduce the company to just uk operations and sell off everything else or do you think it's the beginning of the end.
I hope they pull through, lots of people did not think they would still be here in November.
Joined: Feb 2001
Posts: 93
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From: uk
In medical terms. they are in a coma. Survival depends on whether the shareholders decide later this month if the life support system presently supporting them is to be continued or switched off. It is too close to call.
Joined: Aug 2010
Posts: 210
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From: BHX
I think it could well be the beginning of the end and I hope to God i'm wrong.
Friends I know at MYT have told me that they have been flying punters round this summer for peanuts just to fill the aeroplanes up.
I am certain there will be lots more selling off of the family silver but whether there is enough to plug the hole is anyones guess.
Friends I know at MYT have told me that they have been flying punters round this summer for peanuts just to fill the aeroplanes up.
I am certain there will be lots more selling off of the family silver but whether there is enough to plug the hole is anyones guess.
Joined: Apr 2000
Posts: 257
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Well we were told it would go bust last Winter and again this spring and yet again we were told we would not make it out of October. So you will excuse me if I don't put to much store in news paper reports or remarks made here. That said things could be better!
The share holders will not decide the future it will be the banks! Cash flow is the key and at the moment a lot of cash is being generated from asset sales. Will it be enough? One thing is for certain no one on this forum knows the answer to that one.
The share holders will not decide the future it will be the banks! Cash flow is the key and at the moment a lot of cash is being generated from asset sales. Will it be enough? One thing is for certain no one on this forum knows the answer to that one.
Joined: May 1999
Posts: 142
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From: Midlands, UK
My Travel is definitely not in good shape. Nor indeed are many of the UK charterers this year either. Package demand is well down on expectations and bookings
My Travel is no exception, but maybe their problems are greater than most due to their exposure in the market place.
IMHO, the biggest mistake they ever made was changing their original business model. That was that they would only ever deploy their resources to fly their winter aircraft capacity, and 'outsource' the rest. They forgot that concept and now find themselves in a muddle.
Great shame
My Travel is no exception, but maybe their problems are greater than most due to their exposure in the market place.
IMHO, the biggest mistake they ever made was changing their original business model. That was that they would only ever deploy their resources to fly their winter aircraft capacity, and 'outsource' the rest. They forgot that concept and now find themselves in a muddle.
Great shame
Joined: Oct 2003
Posts: 55
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From: united kingdom
They will be gone by April.
They have retired the only aircraft they owne, the dreaded DC10's.
God Bless them, I hope they make it to the suuny season, however my feelings are that they will get caught by the winter cold.
They have retired the only aircraft they owne, the dreaded DC10's.
God Bless them, I hope they make it to the suuny season, however my feelings are that they will get caught by the winter cold.
Nil desperandum
I am a figment of my own imagination
Joined: Oct 2000
Posts: 726
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From: Jeddah, Saudi Arabia
That the situation is not good is undisputable, but isn't it great to see the doomsayers however are ever with us. The adage that the only news is bad news, is unfortunately only too true. There appears to be a fascination for the gloomy salacious or problematical. The rubber necking at the scene of an accident the attraction of the blood gore at accidents, companies collapsing.
Perhaps is is some form of relief that bad things are going somewhere else. Just consider Hulk, today takes you personaly one step closer to your demise, now is that a fact, bad news or perhaps something we can all speculate on. One True Voice could knock us up a sandwich board and parade it around, Willowman could put his stethescope to Hulks chest and confirm our (worst) fears, and we could all cluster round an comiserate wow what a bad news party we could have. Oops heard a crash over there sorry gotta rush.
Perhaps is is some form of relief that bad things are going somewhere else. Just consider Hulk, today takes you personaly one step closer to your demise, now is that a fact, bad news or perhaps something we can all speculate on. One True Voice could knock us up a sandwich board and parade it around, Willowman could put his stethescope to Hulks chest and confirm our (worst) fears, and we could all cluster round an comiserate wow what a bad news party we could have. Oops heard a crash over there sorry gotta rush.
Joined: Jul 2000
Posts: 142
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From: ASIA
Hey Paterbrat, brilliant post. A very good point, hilariously made. The other side of the coin though (for those of us that follow monty python) is whistling "Always look on the bright side of life" as the receivers are called in.
All depends on an individuals personal outlook on life I guess. I'd rather have a night in the bar with guys with your attitude though.
And on a more serious note. Good luck to all the guys and girls at MYT. Been there, done that and its not nice.
All depends on an individuals personal outlook on life I guess. I'd rather have a night in the bar with guys with your attitude though.
And on a more serious note. Good luck to all the guys and girls at MYT. Been there, done that and its not nice.
stilljustanothernumber
Joined: Apr 2002
Posts: 624
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From: the night sky
Perhaps she refers to this: http://www.pprune.org/forums/showthr...hreadid=108122
Thread Starter
Joined: Jun 2003
Posts: 28
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From: the moon
I'm am sure the share holders will agree to the sale of the businesses that have been sold otherwise they will never see a return on their money.
I think MyTravel will be here by the start of the summer season and I hope they have a good one.
I think MyTravel will be here by the start of the summer season and I hope they have a good one.
stilljustanothernumber
Joined: Apr 2002
Posts: 624
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From: the night sky