Thoughts,news please....

http://moneyam.uk-wire.com/cgi-bin/articles/200304021012025318J.html

A major holder dumped their holding - even at this low price.
There's no doubt 'profitable' bookings are down. Last nights local paper carried ads almost giving holidays in April and May away. Perhaps it's all in the price?

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It's always in the price, but the actions of tom farmer CEO? shows that he's prepared to invest in something (which he believes in). He's on record as buying over 1 million [MT.]shares at an average price about 15p out of his own pocket over the last few weeks (see RMS). As a holiday company ( not a pure airline, my interpretation), they can shift their emphasis - even if only slightly and profits from one area can offset others.
It might be a big gamble, but I don't see this massive (shareprice) fall in confidence being a long-term change. Perhaps the name-change (from Air-Tours) was a masterstroke no-one else saw?
Recent Co announcements in Canada (and here with BA ), may change the outcome. who knows?
We just have to wait.I hold shares in MT.

The bonds ( mt.a ) have taken a real hammering and, I suspect, reflect the real chances of profitable survival of the company. At the moment they are 26p and are due to be redeemed at 1 in Jan 2004. The market would seem to suggest that there is little chance of that and instead holders may be offered lots of MT. shares in lieu. I'd guess that to survive there's going to be a lot of dilution as creditors are offered shares insdead of cash.