by Trapper John » Wed Oct 04, 2017 7:40 am
Cannydc wrote:Trapper John wrote:CannyDC:
"Their costs were in US Dollars, their income in GB Pounds.
300,000 holidaymakers and thousands of jobs. Hope none of them voted LEAVE.
Welcome to Brexit Britain."
CannyDC: "Actually they are travelling more, Monarch had a large rise in passengers, but received £100m less net income due to the slump in sterling, the night of the Brexit vote. They never recovered."
You see this is the sort of gloating these fucks like CannyDC delight in,
and the misinformation and lies of course.
Monarch were in trouble as far back as 2004 when they began to compete with easyJet and also later with Ryanair for short haul European flights. Their last complete results up to September of 2016 showed a £291million loss - all of this remember was whilst UK was part of the EU - the slump in the pound post Brexit had little or nothing to do with it.
Monarch's rise in passenger numbers but loss of revenue was down to long term
aggressive ticket pricing trying to compete with the aforementioned carriers who were far better equipped in that area of the market. Trying to increase market share at the expense of profit margins is only sustainable for so long - So once again, fuck all to do with Brexit or the slump in the pound.
Travel to Turkey and Egypt was a huge part of Monarch's most profitable business - that slumped to a trickle because of ISIS and Terror - again, fuck all to do with Brexit.
All airlines have had to cope with a fall in the pound, why did only Monarch collapse? - because the seeds of it were sown going back for over a decade, with the poor decisions of it's directors and management, long before leaving the EU was even dreamed about.
So there we are, Monarch's collapse has fuck all to do with Brexit and CannyDC's posts are just another example of his 5th columnist credentials - attempting to spread discontent, misinformation and lies whenever he gets the opportunity.
Jeez, you really do have your head shoved deep in the sand, don't you ? And that clearly allows you to deny that the uncertainty caused by Brexit which is likely to greatly affect the ability of UK airlines to fly in the EU has had any effect on potential buyers or investors in Monarch? Or that the slump in Sterling cost them £100m ?
Have a word, this isn't lies or misinformation, it's facts. But then, Brexiteers were never great on facts, were they?
You might fool ignorant people, you don't fool me.
I spent long enough in business to know exactly how the scenario pans out. There was no chance of further investment in Monarch, if venture capitalists Greybull weren't prepared to do it, then no-one would.
Neither was there a chance of a 'potential buyer' stepping in. It will follow the same route as every other large collapse does, any interested parties sit like vultures in the wings, waiting for the the final gasp before moving in to pick over the bones. No-one needs to take on the debts, the staff, the obligations of Monarch when all they have to do is wait and collect what they want for free.
Then you expect people to believe that Monarch racked up £291million worth of debts in the few weeks after the referendum?
Like I said, Monarch's demise has nothing to do with Brexit, despite your attempts to persuade people otherwise with your lies and misinformation.
[quote="Cannydc"][quote="Trapper John"]CannyDC: [i]"Their costs were in US Dollars, their income in GB Pounds.
300,000 holidaymakers and thousands of jobs. Hope none of them voted LEAVE.
Welcome to Brexit Britain."
CannyDC: "Actually they are travelling more, Monarch had a large rise in passengers, but received £100m less net income due to the slump in sterling, the night of the Brexit vote. They never recovered."
[/i]
You see this is the sort of gloating these fucks like CannyDC delight in, [b]and the misinformation and lies of course.
[/b]
Monarch were in trouble as far back as 2004 when they began to compete with easyJet and also later with Ryanair for short haul European flights. Their last complete results up to September of 2016 showed a £291million loss - all of this remember was whilst UK was part of the EU - the slump in the pound post Brexit had little or nothing to do with it.
Monarch's rise in passenger numbers but loss of revenue was down to long term [u] aggressive ticket pricing[/u] trying to compete with the aforementioned carriers who were far better equipped in that area of the market. Trying to increase market share at the expense of profit margins is only sustainable for so long - So once again, fuck all to do with Brexit or the slump in the pound.
Travel to Turkey and Egypt was a huge part of Monarch's most profitable business - that slumped to a trickle because of ISIS and Terror - again, fuck all to do with Brexit.
All airlines have had to cope with a fall in the pound, why did only Monarch collapse? - because the seeds of it were sown going back for over a decade, with the poor decisions of it's directors and management, long before leaving the EU was even dreamed about.
So there we are, Monarch's collapse has fuck all to do with Brexit and CannyDC's posts are just another example of his 5th columnist credentials - attempting to spread discontent, misinformation and lies whenever he gets the opportunity. :shake head:[/quote]
Jeez, you really do have your head shoved deep in the sand, don't you ? And that clearly allows you to deny that the uncertainty caused by Brexit which is likely to greatly affect the ability of UK airlines to fly in the EU has had any effect on potential buyers or investors in Monarch? Or that the slump in Sterling cost them £100m ?
Have a word, this isn't lies or misinformation, it's facts. But then, Brexiteers were never great on facts, were they?[/quote]
You might fool ignorant people, you don't fool me. :shake head:
I spent long enough in business to know exactly how the scenario pans out. There was no chance of further investment in Monarch, if venture capitalists Greybull weren't prepared to do it, then no-one would.
Neither was there a chance of a 'potential buyer' stepping in. It will follow the same route as every other large collapse does, any interested parties sit like vultures in the wings, waiting for the the final gasp before moving in to pick over the bones. No-one needs to take on the debts, the staff, the obligations of Monarch when all they have to do is wait and collect what they want for free.
Then you expect people to believe that Monarch racked up £291million worth of debts in the few weeks after the referendum? :shake head:
Like I said, Monarch's demise has nothing to do with Brexit, despite your attempts to persuade people otherwise with your lies and misinformation.