Originally Posted by
Jonty
Let’s not forget that Thomas cook is an international group of companies. It has 5 AOCs only one of which is administered by the CAA.
Could it withstand the grounding of its UK airline while a pre-pack took place? Probably.
To some extent that would depend on the rules in each of the other jurisdictions regarding AOCs and insolvency. However, if the AOC of the UK airline is suspended they will have to immediately sell their slots or lose them. This means they could not easily return to the same operations in the UK once they regained their AOC. Further, last minute transfers of ownership to other airlines in the group would probably be “frowned upon”.