Moderatelywarmwater
Player Valuation: £10m
But ACAP stopped being able to fund 777 several months ago. So is this actually right? Do we know it to be true?Acap, the company that seems to be seizing the assets of 777s affiliates
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But ACAP stopped being able to fund 777 several months ago. So is this actually right? Do we know it to be true?Acap, the company that seems to be seizing the assets of 777s affiliates
Maybe he is ok with 777 bunging in 20m every few weeks to cover operating costs, rather than having it come from his own pocket?The question is how much longer does that imbecile Moshiri want to continue to play his stupid game of chicken with the Premier League before he realises he’s lost.
Moshiri really is crusifying us with this takeover isn't he!This situation could be resolved today IF…
If all the other main creditors - MSP, Metro Bank, Rights &Media Funding, Andy Bell and George Downing - were to get together and agree to in effect work together to force Moshiri’s hand.
With 777 clearly being a basket case of an outfit and unable to continue to provide any further funding due to the court cases piling up against them and their known liquidity issues, other than injecting more capital himself, which he clearly isn’t willing to do or unable to do, Moshiri would basically have no other option than to cede to the demands of the other creditors and open himself up to other parties.
It’s actually in the hands of the other major creditors… work together for a mutually beneficial solution.
Without knowing anything about how these takeovers work. The way I see it, Moshiri is sitting with majority shares, waiting to exit with as much of his cash as possible.Moshiri really is crusifying us with this takeover isn't he!
The answer to that is really simple - it's because they offered him way more for his stake than anyone else would.There’s way too much detail to fit in this thread, but it’s beyond belief that if such info is so readily available, why did Mosh even give them the time of day and continue to do so ? Surely the most basic due diligence check would come back with a big red Pffft Swerve These Immediately rating.
Agree mate, I follow commercial aviation a lot and the airline is just weird, very badly run everything seems ofd about it. What a mess we are inI follow an airline forum, to learn about new routes and hopefully bag cheap fares before they become well known.
A thread has been opened about the 777 backed Bonza airline collapse. It seems well informed, by folk who understand the Oz airline business and finance.
The whole business venture sounds completely crazy, there’s so many loony / dodgy strokes (alleged) that any other outcome than going bust would seem impossible.
The basic business plan was to provide low cost flights, on routes not served by other airlines, (mainly because there was no demand)
If it ever stood a chance of succeeding, it would have to be based on filling low capacity turbo prop aircraft.
777 then signed a deal with Boeing to buy 10 of their 737 jets, each with a capacity of 170, way beyond what could ever be sold on their chosen routes.
There are so many (alleged) blags, including trading and continuing to sell tickets when they knew they were already bust and planning to fly their planes out of Oz before pulling the plug, so they didn’t get impounded.
There’s way too much detail to fit in this thread, but it’s beyond belief that if such info is so readily available, why did Mosh even give them the time of day and continue to do so ? Surely the most basic due diligence check would come back with a big red Pffft Swerve These Immediately rating.
Even with the Mosh’s business track record, the reported exclusivity deal must have get out clauses in the event of reputational risk, let alone alleged criminal malpractice.
As for the EPL, surely they should also be seriously challenging Mosh, that he must be having a giraffe trying to sell to 777 and to sort his act out, if he actually wants to sell.
As many have said, the whole deal doesn’t appear to make any sense.
Anybody with time to kill, here’s the thread. https://www.pprune.org/australia-new-zealand-pacific/658931-rip-bonza-6.html
From the money they owed to other people !I ask again, where did 777 get the £200m from?
I ask again, where did 777 get the £200m from?
They will have borrowed it from another one of their companies. That’s the way it works, the money they have is constantly on the move around their companies to hide how little they actually have, whilst overinflating the value of their assets.I ask again, where did 777 get the £200m from?
They can't do that. They've loaned money on certain payment terms. If those payment terms are met they can't act against Moshiri. It's like the bank repossessing your house when you've paid your mortgage every month, it wouldn't be allowed.This situation could be resolved today IF…
If all the other main creditors - MSP, Metro Bank, Rights &Media Funding, Andy Bell and George Downing - were to get together and agree to in effect work together to force Moshiri’s hand.
With 777 clearly being a basket case of an outfit and unable to continue to provide any further funding due to the court cases piling up against them and their known liquidity issues, other than injecting more capital himself, which he clearly isn’t willing to do or unable to do, Moshiri would basically have no other option than to cede to the demands of the other creditors and open himself up to other parties.
It’s actually in the hands of the other major creditors… work together for a mutually beneficial solution.