irishguy28

To continue the staggering losses!



Greybull Capital is owed £150 million by Monarch; I guess they can say bye-bye to their plans to bid for Alitalia's ground operations now, too!

simons1

Levels of debt at Norwegian are much higher than most airlines. They may be profitable but expanding rapidly and if interest rates start heading up, or the pound weakens further, it could get tough for them.

Not sure about Monarch. I know what you are getting at (with regional routes) but I thought the issue was that overcapacity amongst Easyjet, Ryanair, Jet2 and the various other regional operators had driven prices to an unsustainable level. Monarch is gone, FlyBe seem to be forever restructuring and so on.

What could BA bring to the table?

Worcester

Odd company Greybull, recently brought the S....horpe (profanity checker at work, town near Humberside (HUY) airport, rhymes with Punthorpe) steelworks from Tata, so they have form in investing in industries with chronic overcapacity.

mradey

Why, if I am not misinterpreting your comment, should 'the taxpayer' pick up this tab?

KARFA

I have seen this reported too and I was confused since I didn't think it should cost the taxpayer anything. It seems the government is paying for repatriation but will try and recover those costs from ATOL and card companies

http://www.travelweekly.co.uk/articl...made-redundant

http://www.travelweekly.co.uk/articl...narch-collapse

Concerto

Obviously, when Monarch ceased trading, they immediately lost their AOC. It would be financially untenable to somehow reactive that AOC just to keep Monarch flying, cheaper and easier just to start a new one. This is if I've understood everything correctly (if not, this is a great place to learn).

My comment was in the spirit of keeping variety in the skies and not becoming like the USA, with three big monopolies as bad as each other offering appalling service and high prices. Because the only way to keep prices low, even if they're realistically too low these days, is to have a choice and competition. We can clearly thank the LCCs for the low prices but I can assure you that the prices will go up with the same or worse service level if there is no competition. And there is no longer any legacy competition in the UK, there is no Star Alliance (BD), no Skyteam (AF op by WX) and no domestic VS flights. The choice is a LCC, or another LCC, or maybe another LCC. For flights from regional airports, i.e. flights from anywhere except London, BA doesn't seem to be interested despite having a few weekend CityFlyer flights from MAN or EDI or wherever.

MSPeconomist

Nope, DangerM55 could have tightened up the prediction by at least twelve hours.

irishguy28

What a steaming pile of Greybull!

I just noticed on Aer Lingus' twitter feed that they are holding walk-in information sessions for Monarch pilots today at one of the Manchester airport hotels. No appointments necessary

Calchas

I don’t really see why BA adding an extra brand and maintaining capacity will help BA.

I agree that choice is good but I don’t see BA investing in it as a distinct brand.

Calchas

British Steel made a £50m profit this year (as of June) and is increasing its headcount.

There is still a pension scheme issue but confusingly that still seems to be owned by Tata Steel.

Jimmie76

Did you mean Sʗunthorpe?

tigertanaka

KMPG to auction the slots. IAG mentioned as a possible bidder alongside U2 & LS. Greybull is apparently a preferred creditor which will surely stick in the throats of the former Monarch employees.

https://www.standard.co.uk/business/...-a3649376.html

Ldnn1

EasyJet are holding open days all week at Luton and Tui are reaching out too. There seems to be a lot of positive support from airlines and the wider business community and Monarch have people facilitating this as well.

Worcester

Interesting, long may that continue. Given the capacity issues of global Steel supply, it was a counter-intuitive bet, but I suppose the weak £ has helped.

fransknorge

Virgin Atlantic is doing the same.