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Old 26th Sep 2019, 10:40
  #126 (permalink)  
RoyHudd

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Join Date: May 2004
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Profits from late 2018 onwards from the German and ~Scandinavian affiliates were never repatriated to TCG. Their books were kept artificially positive as part of the plan to hive off these "companies" on the open market. They ended up cash-rich. No such luck for Thomas Cook UK, although their senior management took very good care of themselves. By coincidence they are German and Swiss-German people, who still find themselves in highly-paid employment in Germany.

The clever liquidators have dismissed the aircraft engineers, thereby preventing routine time-dependent maintenance and upkeep on the aircraft now impounded. They will not be legal to be flown back to the leasing companies, thereby further inflating the debt due to parking charges and ultimately heavy maintenance. Debus and co didn't bother to look after this detail, nor after the well-being of the dismissed employees.

The leasing companies want their aircraft returned to them in the condition in which they were supplied to TCX UK. This apparently will require something of the order of 40 engine changes. Unbelievable.

And as for Condor, they are opening up new routes from the UK to former TCX UK destinations. Tickets are already on public sale. Problems may be anticipated as they attempt to operate said flights out of the UK.

Brexit has nothing whatever to do with this shambles. Blame avaricious management, some of whom may ultimately face criminal charges in the UK courts. In fact, if one looks at how disgracefully the German and Scandinavians have acted, one could argue that this is an example of why the UK is better out of Europe. (not my personal view, btw)
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