Thomas Cook acquisitions.. or not. (Merged)
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Condor / Air Berlin merger off.
The merger of Thomas Cook owned Condor and Air Berlin has been called off. The deal which was announced in September has been in the hands of the German Federal Cartel Office for the last few months, however Thomas Cook plc and Air Berlin cited “the significantly changed economic framework conditions” since September – including a doubling of the price of jet fuel – as the main reason for pulling the proposed deal.
Thomas Cook is said to be looking at alternative's for the airline and still considers it a major part of its business.
Thomas Cook is said to be looking at alternative's for the airline and still considers it a major part of its business.
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How an equity swap of 30% in return for an airline can be seen as transferring ownership is beyond me but evidently not beyond journos from the good old Thunderer! Bless Rupert and his hacks.
Deals, mergers and take-overs amongst and between airlines, travel companies and their owners will surely be put on hold for the foreseeable future in these troubled times. (sic)
Share prices will slide, whatever the outcome of these deals, I fear.
Deals, mergers and take-overs amongst and between airlines, travel companies and their owners will surely be put on hold for the foreseeable future in these troubled times. (sic)
Share prices will slide, whatever the outcome of these deals, I fear.
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The fact is that Air Berlin's shares have fallen to such an extent that a deal along the original lines was no longer possible. First thing this morning AB shares jumped over 10% on the news. Although the underlying logic for such a gain is unclear.
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Rumour has it that Thomas Cook are after XL Airways. Anyone have any more info on this?
A bit info about Air Berlin's shareprice:
In the last 12 months hightest price was 15.70 Euros and lowest was 3.68 Euros.
As of 18 July the price was 3.78 Euros.
Absolute performance over 12 months: -75.9% share price drop.
Absolute performance over last month: -48.5% share price drop.
Absolute performance last week: +2.7% share price increase.
Dredsner bank in Germany have this week valuated Air Berlin shares to be worth 0 euros !
Worst share drop price by a European carrier is Vuelling with 80.1 % drop over the last 12 months
But that's probably because it hasn't been made totally public yet that Air Berlin have sold all their fuel hedging to others as they need the cash....
Well so the rumours say at least, beginning of the end or the end of the beginning
Time will tell.
In the last 12 months hightest price was 15.70 Euros and lowest was 3.68 Euros.
As of 18 July the price was 3.78 Euros.
Absolute performance over 12 months: -75.9% share price drop.
Absolute performance over last month: -48.5% share price drop.
Absolute performance last week: +2.7% share price increase.
Dredsner bank in Germany have this week valuated Air Berlin shares to be worth 0 euros !
Worst share drop price by a European carrier is Vuelling with 80.1 % drop over the last 12 months
But that's probably because it hasn't been made totally public yet that Air Berlin have sold all their fuel hedging to others as they need the cash....
Well so the rumours say at least, beginning of the end or the end of the beginning
Time will tell.
Join Date: Jan 2008
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We keep hearing the XL rumour too. It would be a good way of getting the Caribbean routes back which JMC/TCX gave up during the CKT merger.
With the complete shambles primarily caused by ex MYT managers and directors unable to comprehend how to run a profitable and efficient airline with the right amount of crews and without wasting money everywhere, if any XL merger is forthcoming then hopefully lessons will have been learnt and the same mistakes not made all over again.
The futures bright, the futures orange... i mean blue...
With the complete shambles primarily caused by ex MYT managers and directors unable to comprehend how to run a profitable and efficient airline with the right amount of crews and without wasting money everywhere, if any XL merger is forthcoming then hopefully lessons will have been learnt and the same mistakes not made all over again.
The futures bright, the futures orange... i mean blue...
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I keep hearing TCX is eyeing up Excel too. It would make strategic sense and remove capacity from the market as the downturn kicks in. The CP at TCX has denied it but that means nothing and he is leaving shortly in any case.
TCX is likely to go down the B737 route as opposed to the A321 due to range issues as a fleet replacement for the ageing 757s and coupled with the fact that they already operate A330s, a deal to buy Excel would appeal.
I too am hearing that the TCX-MYT merger has been very problematic so far and maybe buying Excel now might be biting off more than it can chew but never say never.
Regards
Orion Man
TCX is likely to go down the B737 route as opposed to the A321 due to range issues as a fleet replacement for the ageing 757s and coupled with the fact that they already operate A330s, a deal to buy Excel would appeal.
I too am hearing that the TCX-MYT merger has been very problematic so far and maybe buying Excel now might be biting off more than it can chew but never say never.
Regards
Orion Man
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I always said XL should have bought & saved 'Silverjet'
They could have ran their 762 & 763's alongside SJ'S 3 X 762'S
And XL would have had all the Biz operation too.
And a foot in LTN's door.
And saved all the jobs.
They could have ran their 762 & 763's alongside SJ'S 3 X 762'S
And XL would have had all the Biz operation too.
And a foot in LTN's door.
And saved all the jobs.
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TCX is likely to go down the B737 route as opposed to the A321 due to range issues as a fleet replacement for the ageing 757s and coupled with the fact that they already operate A330s, a deal to buy Excel would appeal.
Range Issues? Well they would have more range issues with the 737! The only option would be the 737-900ER as they have a perfectly good A320 fleet so 737-700/-800/-900(non ER) would be a step in the wrong direction
. As for implementing the -900ER well thet would be plane stupid (hehe) when the A321 can do everything the -900ER can yet without the massive implementation costs.Do TCX really need any more A330's? Surely 6/7 depending upon season is enough and the 767's could be reconfigured for any near long haul expantion.
But surely Thomas Cook wouldn't be interested in XL, if they needed more aircraft (which I believe they dont at the moment) then why go through the bother of another merger/acquisition when it is much easier to buy them! Also, the Thomas Cook group has made it clear that they are not out to be bigger than TUI, but to be number 1 in the markets they serve in terms of quality.
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"Spaceman, I hope you are right. Talking to a lot of guys from MYT and they all say that is a total disaster at the moment."
Who is this MYT that people keep talking about about?
Who is this MYT that people keep talking about about?
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If this is true, Then I don't believe the phrase 'we don't want to be the No 1 player like Thomson'
I think it would be sad to see the end of XL.
And all the jobs go with it.
Reported in a paper today that Jet 2 might not see year 2010???
It's going to be a 'VERY' hard winter 2008 for the carriers that's for sure.
I think it would be sad to see the end of XL.
And all the jobs go with it.
Reported in a paper today that Jet 2 might not see year 2010???
It's going to be a 'VERY' hard winter 2008 for the carriers that's for sure.
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Where are these rumours coming from, there is nothing about any talk of this anywhere in the travel trade press, or anywhere online other than here. After the fiasco of merging the Thomas Cook and MyTravel groups, i dont see TC plc wanting to go through another merger this quickly, also there going to get another German airline in the form of XL Germany when they are trying to dispose of Condor.
I can understand some of the logic in taking over the XL leisure group, but i cant see it happening anytime soon.
I can understand some of the logic in taking over the XL leisure group, but i cant see it happening anytime soon.
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(M&M) Monopolies & Mergers Committee would not allow TCX merge again in such a short length of time, They are here to make sure that Jobs are secure, And mergers kept to a minimum.
And the CAA could also express concern at another merger in a short space of time.
TCX could land themselves in 'deep water' if they break the rules.
And the CAA could also express concern at another merger in a short space of time.
TCX could land themselves in 'deep water' if they break the rules.
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Who said anything about a merger.
My source tells me TCX (v cash rich) will be 'buying' XL leisure group. Good way of getting some new equipment to replace the ageing 757 which are up for lease renewal soon. Plus all those lucrative new routes which Cally ditched......
My source tells me TCX (v cash rich) will be 'buying' XL leisure group. Good way of getting some new equipment to replace the ageing 757 which are up for lease renewal soon. Plus all those lucrative new routes which Cally ditched......
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If TCX are buying or merging with XL then lets hope they wait until we get the mess of the MYT merge over with, before running them as 1 airline. Surely the mess created in november by the managment is going to cause a few changes at board level just for starters, come this nov when the critical summer session is over.