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candw

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26502 posts
First used 09/01/17

#1
04/10/2017 at 07:34

The collapse of Monarch Airlines led to a rise in airline shares as investors expected them to benefit from the removal of a competitor.

Budget airline easyJet's shares finished 5.2% higher, Ryanair rose 3.9% and BA owner IAG was 2.4% higher.

EasyJet was the biggest riser on the FTSE 100, with the benchmark share index up 66.08 points at 7,438.84.

Neil Wilson, senior market analyst at ETX Capital, said Monarch's failure was "good news for rivals". "It means fewer seats to fill sector-wide - more than 6 million in the case of Monarch," Mr Wilson said.

Two thousand people are now unemployed.

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essexgull

8980 posts
First used 12/01/17

#2
04/10/2017 at 08:13

It's an equity market analysis. The analyst paid to write the report isn't being paid to write about emotions towards the employees' personal situations regarding the bankruptcy.

Getting upset about it is the same as getting upset that a pathologist's post-mortem report doesn't include empathy towards the deceased.

There are plenty of opinion writers and journalists who are paid to write about the personal situations of the former employees..


ESSEX GULL  

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imperishablehcfc

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#3
04/10/2017 at 09:38

Candw - Easyjet is nowt to do with Ryanair, they have had an excellent run for quite a few months then an adjustment prob due to profit taking and are now climbing back towards their previous highs.

Please pay more attention or people wont take you seriously 

Fuck the short term we will build a 1000 year Hull City Reich 

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candw

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#4
04/10/2017 at 10:02

Yes, I know that gull. But thank you. And your analogy doesn't work.

Quite right, chinky. Monarch's death was nothing to do with Brexit either. It was due to the relative strengths of the important currencies, which is nothing to do with Brexit.

Puerto Rico is surrounded by water. Big water.

Acid doesn't disfigure people. People do.

Council houses are a Socialist burden on the tax payer. Mrs May will build thousands. The next Tory leader will sell them off at a discount. And so it begins.

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essexgull

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#5
04/10/2017 at 15:06

Monarch went bust because their core business was flying to Egypt, Tunisia and Turkey - the three places where no one wants to go for obvious reasons.. It left them fighting for the lower cost fares to Spain and the Canary Islands this season, against more nimble and efficient operators.


ESSEX GULL

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imperishablehcfc

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#6
04/10/2017 at 16:05

Nah it was Brexit honest 

Fuck the short term we will build a 1000 year Hull City Reich 

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imperishablehcfc

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#7
04/10/2017 at 16:05

Nah it was Brexit honest 

Fuck the short term we will build a 1000 year Hull City Reich 

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exiled CITY AFC

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#8
04/10/2017 at 17:31

Quote Quote by essexgull on 04/10/2017 at 15:06
Monarch went bust because their core business was flying to Egypt, Tunisia and Turkey - the three places where no one wants to go for obvious reasons.. It left them fighting for the lower cost fares to Spain and the Canary Islands this season, against more nimble and efficient operators.
ESSEX GULL



Spot on  

Let it never be said that I was silent when they needed me - William Wilberforce 

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candw

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#9
04/10/2017 at 17:57

Not all that up to date, are you? The answer was given yesterday at the Tory conference by (can't be arsed to look it up) that it wasn't due to Brexit but to the movement of currencies vis a vis the £stirling. Which, as you all know, has nothing to do with Brexit.

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essexgull

8980 posts
First used 12/01/17

#10
04/10/2017 at 18:38

Most airlines lock in fuel prices using the futures markets and certainly should have done so for at least 2 years ahead before the Brexit vote, so they are generally aware of the outgoings. I have no idea if Monarch did this, but they should have done if run properly.

They've been in trouble for a while - a lot of British people don't understand value anymore. They'll spend £700 a week on lager but balk about paying £300 for a decent airline flight at a sensible time, so they choose to fly cheap, then get upset when they have to print their own tickets, pay £5 for water and have no luggage.. As a result Monarch tried to keep their service levels better than ryanair etc. but their costs low, so were haemorrhaging money for the past two or three years, well before Brexit - last year most of their staff took a 10% pay cut.

The loss of their three main profitable destinations over the last two years meant that they were done. Initially asked for a bridging loan from the taxpayer and even their management admitted that they couldn't fulfill the requirements as couldn't hope to profit or even stop losses with the competitive Spain and Greece routes.

Such is life. Airlines are a hugely competitive business nowadays. You can travel thousands of miles for under £100, a tenth of the 'real' price it was 30 years ago. Something has to give. Airlines either have to operate bare bones, such as ryanair, or offer a level of service that encourages loyal frequent flyers to spend a sensible amount on the flight.


ESSEX GULL  

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candw

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#11
04/10/2017 at 19:41

I'm sure you're absolutely right, gull. I just hate the way that some people make money out of the misfortune of others and add no value to the world. I don't agree with ordinary gambling either.

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essexgull

8980 posts
First used 12/01/17

#12
04/10/2017 at 20:31

That's a fair opinion. I don't entirely agree, but accept it.

You write a lot, fairly, about business responsibility, but consumer responsibility is equally as important. If we're buying a roast chicken for£4, a t-shirt for £2 or return flights to Spain for 4 with paper flexible tickets, a full luggage allowance and a meal each for under £200, someone somewhere is getting screwed..


ESSEX GULL  

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candw

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#13
04/10/2017 at 21:01

I'd not thought of it that way before. Yes, cheap for us does mean some poor sod is getting less than fair.  

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