Well it really does sound like someone got up on the wrong side of bed this morning!
Just to correct a few minor errors....
The company you are in fact referring to is not Thomson's,...
...but TUI ....
... Thomson's parent company.
1. There is definitely a lot of overcapacity in the market, not helped by certain competitors dumping capacity onto the market at non-existent or extremely low margins. Hence the drop relative to last years bookings. At least TUI are selling holidays at a profit.
2. All tour groups are having hard times but one profit warning is better than three.
3. It would have been irresponsible to make any valid forecast before the effect of a war in Iraq would have on business.
4. Unlike some of its competitors TUI still has a lot of assets to sell off if necessary.
5. TUI is on very good terms with its biggest lender/shareholder WestLB.
I think the news from TUI next wednesday will be better than people think.
The future is bright, the future is two shades of blue with a red squiggle.