My Travel
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£910 Million loss to a £45 million profit in three years seems quite impressive to me.
Ok - we wont do as forecast; but this is due to events beyond our control.
All the other operators are faced with the same situations, and so should all struggle equally.
Ok - we wont do as forecast; but this is due to events beyond our control.
All the other operators are faced with the same situations, and so should all struggle equally.
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Hi,
As above, £45 million profit is a good result considering all that has happened this year and as mentioned, all other tour operators will be facing the same problems.
MyTravel's US and Northern Europe divisions are outstripped previous years performances to produce record results each year and in the US, MyTravel recently began the acquisition trail again in purchasing a cruise retailer from First Choice to compliment its successful Cruise Store brands.
I say well done to MyTravel and I expect many more new and exciting destinations will be launched this November to compliment Samana and China for Summer 2007!
If you take a glance at Thomas Cook UK, a leaked memo to employees, from its chief admitted the company is experiencing its worst trading in 20 years and described it as being 'dire'.
Another example would be TUI UK, in August cutting 100s of jobs and closing their Glasgow call centre.
All tour operators are under pressure at the moment due to events above and beyond their control.
Thomas_Cook_757-300
As above, £45 million profit is a good result considering all that has happened this year and as mentioned, all other tour operators will be facing the same problems.
MyTravel's US and Northern Europe divisions are outstripped previous years performances to produce record results each year and in the US, MyTravel recently began the acquisition trail again in purchasing a cruise retailer from First Choice to compliment its successful Cruise Store brands.
I say well done to MyTravel and I expect many more new and exciting destinations will be launched this November to compliment Samana and China for Summer 2007!
If you take a glance at Thomas Cook UK, a leaked memo to employees, from its chief admitted the company is experiencing its worst trading in 20 years and described it as being 'dire'.
Another example would be TUI UK, in August cutting 100s of jobs and closing their Glasgow call centre.
All tour operators are under pressure at the moment due to events above and beyond their control.
Thomas_Cook_757-300
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From http://www.e-tid.com
Hedge fund lifts MyTravel stake
14 Sep 2006
US hedge fund Pardus has taken advantage of the dip in MyTravel’s share price to increase its stake in the tour operator to 7.15%. At the start of August it owned 5.1% of the business.
Pardus is known in the investment community as an activist hedge fund – building up stakes in a company in order to force management to unlock value for shareholders. In the States, a different Pardus fund has built up a 14.8% stake in a health club operator Bally getting three of its people onto the nine-man board in the process. It has recently entered into ‘a confidentiality agreement’ with operator.
MyTravel’s shares dropped by up to 20% yesterday (Tues) following its profit warning, although it closed at 188p, a 6.4% drop. At 1pm today it was trading at 187.75p.
Following the profit warning, Citigroup has downgraded MyTravel to ‘hold’ from ‘buy’.
ABN Amro has reduced its forecasts but maintained its ‘hold’ rating. It now expects MyTravel to make a FY operating profit of £58.2m – a 32% reduction – while its target price for the stock has dropped to 205p from 220p.
PP
Hedge fund lifts MyTravel stake
14 Sep 2006
US hedge fund Pardus has taken advantage of the dip in MyTravel’s share price to increase its stake in the tour operator to 7.15%. At the start of August it owned 5.1% of the business.
Pardus is known in the investment community as an activist hedge fund – building up stakes in a company in order to force management to unlock value for shareholders. In the States, a different Pardus fund has built up a 14.8% stake in a health club operator Bally getting three of its people onto the nine-man board in the process. It has recently entered into ‘a confidentiality agreement’ with operator.
MyTravel’s shares dropped by up to 20% yesterday (Tues) following its profit warning, although it closed at 188p, a 6.4% drop. At 1pm today it was trading at 187.75p.
Following the profit warning, Citigroup has downgraded MyTravel to ‘hold’ from ‘buy’.
ABN Amro has reduced its forecasts but maintained its ‘hold’ rating. It now expects MyTravel to make a FY operating profit of £58.2m – a 32% reduction – while its target price for the stock has dropped to 205p from 220p.
PP
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PP
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Auctions
I heard yesterday MYT may be looking at a company designing a travel auction site to help gain valuable revenues and boost brand awareness.
Anyone any clues?
Sounds great to me!
Anyone any clues?
Sounds great to me!
Ut Sementem Feeceris
Who is going to book a holiday by mobile phone? I don't understand why MYT pursue this technology - it's too soon. Look at their (now defunct) TV station. They spent MILLIONS on that at a time when the business was on its knees. Instead of putting it out to a third party production company, they built their OWN TV studio/production facilities at Parkway in Manchester!
I used to work for them and remember at the time the despair on the line at what the mandarins who ran the company were doing - a lot of them ultimately left with ££££'s in the pockets
. You would have thought MYT had learnt a lesson regarding "new" technology.
I only hope the new web site is better than the original - it was absolutely DIRE. It just didn't work - far too complex. It would hang or crash or just stop reponding or offer you something TOTALLY unrelated to your original search. If wasn't so serious it would be funny. Again, the Airline kept asking the Holiday company what was being done to fix the problems (because ultimatley it was our jobs that were lost) and NOTHING happened - the website was PANTS for at least two years. This situation continued until it all went wrong big style two years ago.
I have no axe to grind and I sincerely hope MYT prospers for the sake of all my good colleagues still there - but when I read about booking holidays by mobile phone I get a feeling of deja vue.
A4
I used to work for them and remember at the time the despair on the line at what the mandarins who ran the company were doing - a lot of them ultimately left with ££££'s in the pockets
. You would have thought MYT had learnt a lesson regarding "new" technology. I only hope the new web site is better than the original - it was absolutely DIRE. It just didn't work - far too complex. It would hang or crash or just stop reponding or offer you something TOTALLY unrelated to your original search. If wasn't so serious it would be funny. Again, the Airline kept asking the Holiday company what was being done to fix the problems (because ultimatley it was our jobs that were lost) and NOTHING happened - the website was PANTS for at least two years. This situation continued until it all went wrong big style two years ago.
I have no axe to grind and I sincerely hope MYT prospers for the sake of all my good colleagues still there - but when I read about booking holidays by mobile phone I get a feeling of deja vue.
A4
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Hey,
The mobile phone technology is being perused by the big 3 - TUI, Thomas Cook and MyTravel so there must be a market for this.
The previous web platform was very reliable, not sure about the original though. MyTravel and related websites are the 4th most visited in the UK; after Expedia, Last Minute and TUI with weekly hits averaging over 1 million - up 64% YoY. With the enhancements recently made to the groups websites, conversion has exceeded the expected 10% uplift in online bookings and has soared to over 20%. Well over 25% of the groups business both UK, NE and NA now comes from its websites.
On the aviation side, MyTravel Airways is fully on track for the number one spot for on time performance for the 2nd consecutive season after a shift in OTP last Summer.
Thomas_Cook_757-300
The mobile phone technology is being perused by the big 3 - TUI, Thomas Cook and MyTravel so there must be a market for this.
The previous web platform was very reliable, not sure about the original though. MyTravel and related websites are the 4th most visited in the UK; after Expedia, Last Minute and TUI with weekly hits averaging over 1 million - up 64% YoY. With the enhancements recently made to the groups websites, conversion has exceeded the expected 10% uplift in online bookings and has soared to over 20%. Well over 25% of the groups business both UK, NE and NA now comes from its websites.
On the aviation side, MyTravel Airways is fully on track for the number one spot for on time performance for the 2nd consecutive season after a shift in OTP last Summer.
Thomas_Cook_757-300
Alba Gu Brath
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Bring back AIRTOURS the uk best ever charter airline.
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'Scaretours', 'Thomas Crap', 'Just Must Crap', 'Last Choice', 'No Choice', 'ThomsonCrap'... the list goes on and to be honest, I would take any nickname like that with a pinch of salt.
Customer service at MyTravel Group has really turned around, if you visit 'Holiday Truths' subforum on 'Holiday Complaints', there is not one subject on that main page relating to the Group's operators but instead, another large mainstream company. Another thing to take with a pinch of salt but nonetheless, a good indication.
Thomas_Cook_757-300
Customer service at MyTravel Group has really turned around, if you visit 'Holiday Truths' subforum on 'Holiday Complaints', there is not one subject on that main page relating to the Group's operators but instead, another large mainstream company. Another thing to take with a pinch of salt but nonetheless, a good indication.
Thomas_Cook_757-300
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Passenger seat assignment discussions: http://www.pprune.org/forums/showthread.php?t=247878
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£910 Million loss to a £45 million profit in three years seems quite impressive to me.
Not knocking anyone here, but I am no economist, so in my simplistic terms that means it would take 20 years at such a profit level just to break even from the year where the £910m loss was made. Am I missing something here?
Not knocking anyone here, but I am no economist, so in my simplistic terms that means it would take 20 years at such a profit level just to break even from the year where the £910m loss was made. Am I missing something here?
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Rumours are circulating that Skyservice are to be rebranded as MyTravel Airways Canada. Any truth behind this? I read that but also read somewhere else that Skyservice will adopt MyTravel's colour scheme, feature 'MY' on the tail but carry the Skyservice name...?
I have noticed that MyTravel Canada Inc. have started re-branding all their products with 'MY' so it looks like this could be a possibility:
Thomas_Cook_757-300
I have noticed that MyTravel Canada Inc. have started re-branding all their products with 'MY' so it looks like this could be a possibility:
Thomas_Cook_757-300
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I have read today that the MyTravelLite brand is to be re-introduced this November? Any more on this? This may be supported by a report in the Travel Trade Gazette last week that MyTravel are introducing E-Tickets on selected flights from this month and by the advertising removed land page which now says ‘COMING SOON’ and so has now been updated from its previous message regarding the new MyTravel Website in June…
Thomas_Cook_757-300
Thomas_Cook_757-300
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I doubt whether Skyservice Airlines would rename themselves MyTravel Airways Canada.
Most people apparently don’t realise that there is no equity/ownership link between the MyTravel Group and Skyservice Airlines. I think the situation is actually: that Sunquest (the Canadian tour operator that is part of the MyTravel Group) owns the leases on several aircraft and has a commercial arrangement that Skyservice Airlines operates the aircraft for them. Canadian ownership laws would probably prohibit MyTravel from owning it’s own Canadian airline to fly the aircraft.
So if Skyservice Airlines is not part of the MyTravel Group, why would they rename themselves MyTravel Airways Canada? Although, there’s always a possibility that MyTravel branding could be given greater prominence on aircraft Skyservice Airlines is operating on behalf of Sunquest.
Most people apparently don’t realise that there is no equity/ownership link between the MyTravel Group and Skyservice Airlines. I think the situation is actually: that Sunquest (the Canadian tour operator that is part of the MyTravel Group) owns the leases on several aircraft and has a commercial arrangement that Skyservice Airlines operates the aircraft for them. Canadian ownership laws would probably prohibit MyTravel from owning it’s own Canadian airline to fly the aircraft.
So if Skyservice Airlines is not part of the MyTravel Group, why would they rename themselves MyTravel Airways Canada? Although, there’s always a possibility that MyTravel branding could be given greater prominence on aircraft Skyservice Airlines is operating on behalf of Sunquest.
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A couple of developments and news from MyTravel since the last post here in November:
Thomas_Cook_757-300
- The Group announced profits of £43.8m for the year end to October 31st.
- New routes for 07 will MAN-SKG, LGW-OLB, MAN-SYX, LGW-SYX, MAN/LGW-AZS, EMA-MBA, LGW-BJL, MAN-SJJ, MAN-LAS (Year Round) and For March 2008 BFS-LAS.
- 2 new aircraft to join the fleet for S07: A321-211 ex FCA G-OOAF will become G-OMYK and A320-214 ex TCX G-BXKB will become G-OMYA.
Thomas_Cook_757-300
Last edited by Thomas_Cook_757-300; 23rd Jan 2007 at 17:41.
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Thank god it´s not Air Europa this year. I used to bring in this flight last summer (when it was shared with Thomsonfly) and all I used to get was complaints about how the crew could not speak Engllish and how crap the food was. I´ll give them their dues, the flight was more or less on time every week, apart from one Saturday when it arrived back to ALc 57 minutes early, lol.