RE: Fighting back21 May 2019 00:01
Even if the company does find a buyer for its airline – a very big if – and secures the extra funding, it can’t keep living hand-to mouth. It needs a longer-term solution to its borrowing crunch. Net debt stood at 1.3 billion pounds at March 31. True, this should start to fall as the group receives holiday payments, but the Citi analysts estimate that net debt will still be 740 million pounds at the end of September. That exceeds the combined value of its tour operator and airline divisions.