Originally Posted by
SMT Member
I have, and it seemed to indicate the mothership (TCUK) did not wish to repatriate the funds in order to make TCNE and TCDE look good for prospective buyers. That TCUK saddled itself up with a mountain of debt when they bought the German and Nordic travel agencies, and subsequently 'fudged' the books to make them look attractive, is hardly something you can blame either the Nordic or German entities for.
Seems to me, that senior management at TCUK got themselves into a position they couldn't handle, saddled the company with debt it couldn't repay, and then went bankrupt. But, sure, blame someone else if that makes you feel better. I, on the other hand, am only happy that our fellow airline employees in Germany and Denmark are still able to go to work and collect a pay check, whilst of course feeling immensely sad for the innocent staff at TCUK, who lost their jobs because management was not up to the task of running the company.
Condor is a separate company. GmbH... it’s not that their profits are supposed to be sent to TCUK because they are the parent company. I suppose the benefit TCUK had was they owned the stock from Condor and that has value. They are separate companies.... even if one is a subsidiary. Am I understanding this correctly?