Gladys Posted May 15, 2008 Author Share Posted May 15, 2008 Cambon, the issue is the Government's involvement, not so much the money. Flybe are only accommodating flights up to 25 October 2008 and my flights are in December. Read the Chief Ministers reply on 13 May in which he refers to inadequate financial information, last audited accounts avaiable were for three years prior, for a company which has been trading for five? Bank statements offered but several months out of date? When a company is going through a rocky period, it would be prudent for the directors to have regularly updated managment accounts so that they could, and demonstrate that they could, monitor the position of the company on a very regaulr basis, daily owuldn't be OTT. And yet, the Government saw fit to prop up the company when it had no idea of the extent of the financial deficit. Nor could Euromanx management in all honesty have any real idea of their financial postion or expect any serious buyer to take the company over without being able to fully quantify the financial position. In those circumstnaces could the directors have honestly said that they had a realistic prospect of the white knight coming to their aid? Not without recent accounts boyo! Creditors do speak to debtors in such cases, but we have to remember that this is Government and that this accommodation was given against a background of deficient accounting information and without a realistic rescue package. This led to a delay of 7 months before the right decision was made and, meanwhile, the company was accepting money for flights nine months in advance. In other countries I understand that the practice is for airlines to pay advance fares to an escrow account and only book the fares to revenue once the flight is taken. In that case recovery of fares when an airline goes bang is pretty swift; a matter of a couple of weeks, I am told, when a South African airline went bust recently. These are the kind of issues that I would like to raise with the Chief Minister's office. It is just a sorry tale of Government getting involved way over its head and possibly exacerbating the situation. Link to comment Share on other sites More sharing options...
bluemonday Posted May 16, 2008 Share Posted May 16, 2008 I'm up for a meeting. C'mon people, this won't be the last time your money is thrown away pointlessly. Time we kicked off and tried to stop the incompetence. Link to comment Share on other sites More sharing options...
ballaughbiker Posted May 16, 2008 Share Posted May 16, 2008 Ok, that being teh case, what is the problem? They changed my flights no problem. So I am on Flybe now and the times are slightly different (earlier out, later back) but my connections should be fine. I suggest people follow the same instructions Ah, if only life was that simple! Link to comment Share on other sites More sharing options...
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