Place your bets - which airline will go bust next?
I've met Paddy Power. Yes, he's a real person and it's his real name. He's a really nice bloke, and after a little due diligence he really will offer you odds on anything and everything. For fun, for sport, for the craic of it, ask Paddy for odds on cat shaving becoming an official sport at the 2012 Olympics and he'll give them. Slightly more mundane but of equal interest to avid Bitterwallet readers, Paddy is taking bets on the next airline to go bust following Globespan's tailspin into administration earlier this month.
Not everyone is happy about it, least of all the airline with the shortest odds. Monarch Airlines has had the odds of it going to the wall slashed from 50/1 to 4/1 after more than 100 bets were placed over Christmas. Managing Director Tim Jeans claims punters may be betting on Monarch going bust after charter airlines such as Globespan and XL Airways went out of business over the past year, saying:
"People put two and two together and say Monarch's a charter airline and make their bets accordingly. But Monarch's business is far different from those people. If it wasn't so serious it would be laughable."
According to a spokesperson for the bookies, the reason Monarch's odds were shortened was because nearly eight out of every ten bets placed over the past week have been on Monarch, which followed a similar pattern to betting on XL Airways last year. If you're feeling flush and fancy a flutter, the ten airlines with the shortest odds on going bust are below, or you can see a full list here:
- Monarch 4/1
- Wizz Air 11/2
- Finnair 11/2
- Malev 13/2
- Aer Arann 9/1
- Spanair 10/1
- Jet2 10/1
- BA 11/1
- Aer Lingus 14/1
- Thomson Airways 14/1