Manxberry Posted March 9, 2020 Share Posted March 9, 2020 I see the airport opened later than usual yesterday because of the lack of flights. All well and good if the staff were on less wages, but they basically just got a free lie in! Quote Link to comment Share on other sites More sharing options...
woolley Posted March 9, 2020 Share Posted March 9, 2020 31 minutes ago, Manxberry said: I see the airport opened later than usual yesterday because of the lack of flights. All well and good if the staff were on less wages, but they basically just got a free lie in! "Please we wish"? What sort of English is that? 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted March 9, 2020 Author Share Posted March 9, 2020 1 minute ago, woolley said: "Please we wish"? What sort of English is that? That'll be the пожалуйста, that the youngish Spake is oft heard to say! 1 Quote Link to comment Share on other sites More sharing options...
asitis Posted March 9, 2020 Share Posted March 9, 2020 (edited) Seems that Eastern and Stobart are in the doo doo too! reported in Ireland. Latest rumour is that Logan and blue islands are doing a deal. Oh and it looks to me as if the dash 8 has gone ? Edited March 9, 2020 by asitis Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted March 9, 2020 Author Share Posted March 9, 2020 3 minutes ago, asitis said: Seems that Eastern and Stobart are in the doo doo too! reported in Ireland. Latest rumour is that Logan and blue islands are doing a deal. Oh and it looks to me as if the dash 8 has gone ? Link re Eire? Quote Link to comment Share on other sites More sharing options...
The Amazing Ronrico Posted March 9, 2020 Share Posted March 9, 2020 1 hour ago, b4mbi said: It's a cash cow. In 2018, Page 9 here on a turnover of c. £59m it made £18.2m cash inflow from operating activities. (£19.5m in 2017) How many people have enough money to buy a house outright? Most people borrow the funds (mortgage the property) against their future earnings from employment. It's the same with a company and a ship. Massive capital investment upfront with affordable debt financing funded by future earnings from freight and passenger fares. You can repay a lot of debt with a cash inflow of £18m p.a. … i.e. it's sustainable. £150m at 5% -> £7.5m interest and £10m p.a. capital repayment?? (in practise the Govt report on refinancing options, they expect a coupon rate between 2 & 2,5% via private placement) Could have it paid back in 15 years. I’m sure that’s exactly what Mac Quarrie and Espirito thought as they loaded previous incarnations of the SPC up with debt too. We’ll get it back in a few years. This is a cash cow. But it didn’t end well did it? Quote Link to comment Share on other sites More sharing options...
Manxberry Posted March 9, 2020 Share Posted March 9, 2020 3 minutes ago, Andy Onchan said: Link re Eire? https://www.thesun.ie/news/5181175/coronavirus-in-ireland-covid-19-flybe-collapse-crisis-stobart-air/ Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted March 9, 2020 Author Share Posted March 9, 2020 2 minutes ago, Manxberry said: https://www.thesun.ie/news/5181175/coronavirus-in-ireland-covid-19-flybe-collapse-crisis-stobart-air/ And Eastern? Quote Link to comment Share on other sites More sharing options...
Uhtred Posted March 9, 2020 Share Posted March 9, 2020 49 minutes ago, woolley said: "Please we wish"? What sort of English is that? Good...like what mine is. Quote Link to comment Share on other sites More sharing options...
Manxberry Posted March 9, 2020 Share Posted March 9, 2020 Just now, Andy Onchan said: And Eastern? No news about them. They seem no worse off than they were before FlyBe collapsed, and have an opportunity to grow now. 1 Quote Link to comment Share on other sites More sharing options...
asitis Posted March 9, 2020 Share Posted March 9, 2020 1 minute ago, Andy Onchan said: And Eastern? Don't know about that my friend is an engineering inspector for logan in the UK he sent it to me. Quote Link to comment Share on other sites More sharing options...
Manxberry Posted March 9, 2020 Share Posted March 9, 2020 (edited) 11 minutes ago, asitis said: Don't know about that my friend is an engineering inspector for logan in the UK he sent it to me. And no, I can't see anything on Eastern in trouble - they're constantly in and out of trouble, but no new news there Edited March 9, 2020 by Manxberry 1 Quote Link to comment Share on other sites More sharing options...
sir nige Posted March 9, 2020 Share Posted March 9, 2020 2 hours ago, b4mbi said: It's a cash cow. In 2018, Page 9 here on a turnover of c. £59m it made £18.2m cash inflow from operating activities. (£19.5m in 2017) How many people have enough money to buy a house outright? Most people borrow the funds (mortgage the property) against their future earnings from employment. It's the same with a company and a ship. Massive capital investment upfront with affordable debt financing funded by future earnings from freight and passenger fares. You can repay a lot of debt with a cash inflow of £18m p.a. … i.e. it's sustainable. £150m at 5% -> £7.5m interest and £10m p.a. capital repayment?? (in practise the Govt report on refinancing options, they expect a coupon rate between 2 & 2,5% via private placement) Could have it paid back in 15 years. whats it making now? and the old owners said spending would be £170m between 2020-2026..... Quote Link to comment Share on other sites More sharing options...
woolley Posted March 9, 2020 Share Posted March 9, 2020 31 minutes ago, Manxberry said: https://www.thesun.ie/news/5181175/coronavirus-in-ireland-covid-19-flybe-collapse-crisis-stobart-air/ I reckon that would have gone down so much better with the troops and had a better chance of achieving the desired effect had Mr Jolly mentioned the 20% pay cut he is presumably taking to assist the company in hard times, but perhaps he is too modest. 1 Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted March 9, 2020 Share Posted March 9, 2020 There's a much better article in the Guardian than the previous one explaining exactly what the situation is with the pension fund. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.