The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Dr Anomaly, unfortunately we’ve been here before at BB. All were shown the supposedly high quality oil, told it would be transformational for the country and so many people bought in on the strength of that. How much longer can this be allowed to go on with the same man in charge?
Barely a dribble of oil being produced, barely any cash coming in and yet some see fit to receive such a staggering amount in salary, truly shocking. Where does this money come from, revenue or you the share holders? I’m sure you can work it out. The CEOeven defends massive dilution. This needs to be mainstream news.
I recall being shown supposedly high quality oil in a video and being told that it would be transformational for the country.
Cut my losses here long ago. Thought I’d take a look back here and I really am sorry for holders. Shambolic indeed imo and an example of how bad it can get on AIM. Thank heavens for GGP.
Very nearly two years ago Monarch had been told to expand. It’s a known fact that they were interviewing pilots on the Friday, but in the early hours of the following Monday the plug was pulled. That is indeed exactly how it works.
Jed, you talk about £300m as though it’s a bit of change down the back of the sofa. Do you really think any company will pay £1bn for this airline? Wake up and smell the competition. Unbelievable lack of industry knowledge.
Any employee with a DC pension owns their own pot, it’s theirs even if the company should cease to exist, it just means all company contributions stop. If it’s a DB pension that’s another story. The tax payer has nothing to do with it, nor does the government. If certain criteria are met, the PPF will accept the DB scheme, but for high earners and contributors such as pilots, it is devastating. Final salary pensions of perhaps £60k plus will become around half that, with tax free lump sums hugely reduced too. This was the case for Monarch pilots yet to take their DB pension. Unlike British Midland pilots, they received no additional compensation. The government isn’t interested as the PPF isn’t government owned, it’s self sustaining and has no connection to the tax payer. I’m not sure if a DB scheme is in play here and I hope it isn’t.
This won’t end well I fear. Virgin would only want a very small part and I’d be surprised if Indigo Partners would be interested in anything other than slots for their Wizz UK operation. IMO, they’d do anything to get slots at LGW to make further use of their UK AOC. The airline in its entirety is a dinosaur and of no use to anyone in the current climate. It doesn’t fit any of the current money making models. The long haul fleet is small with too many hours on the clock. I really feel for the staff here, been there and got done over. Over thirty years in the industry and seen this before. As always, the staff and even the most senior management will be the last to know the exact plan. All in my opinion obviously. Good luck all.