Originally Posted by
dada
there's nothing worth rescuing here now. it's be like throwing good money after bad. i feel sorry for the staff though. i know from personal experience what all this feels like. it went fairly close to the wire in 2011/12 and its predecessor MyTravel very nearly went the same way in 2006. i think it's in it's DNA now. I remember reading an article from CitiGroup back in may (when shares hit 10p) saying the shares were worthless. how right they were. any expense repatriating stranded people should be covered by the ATOL levy. and IF they do fold, whilst TUI and Jet2 would remain as the dominant market players, the way holidays are sold now is evolving in a way that differs from before the tinternet existed and it was all just big tour operators. There would be no monopoly as some are suggesting (as the reason to keep tcx afloat).
The medical term would be DNR.... Do Not Resuscitate.
Yes its sad for the staff of the UK company, and also for the Condor ops and the TC Nordic ops.
If those countries felt that there was something worth saving for their citizens, they would have put up offers for them
The Germans have not mounted a rescue for TC in respect of Condor
The Nordics (Norway and Sweden) have not mounted a rescue for the Nordic operations.
The Europeans clearly see the writing on the wall for this business, as do I, and as do the city. The share price says it all. Its over. It's sad, it's a loss to the British industry, but that is that.
To the chap that is absolutely hellbent on a rescue.... let me ask you this.... if the British government rescued every failing business, where would we be? Woolworths? yes? Zavvi? Yes? XL Airways? Yes? BHS? Yes? What's next? shall we nationalise Debenhams, Sainsburys and Asda on the quicktime before they go bust???