Thomas Cook acquisitions.. or not. (Merged)
Not a slag, just an honest question. If they were to do so, what would they gain in the purchase of XLA? Would there be any benefit other than taking a relatively small competitor out of the mix?
Join Date: Jan 1999
Location: north of barlu
Posts: 6,207
Likes: 0
Received 0 Likes
on
0 Posts
Why?
A chance to grab three new A330's, to replace the 767's and a fleet of 738 &9's to replace the 757's. looking for a more fuel efficent fleet?
I don't think it will happen but if it did that would be the answer.
I don't think it will happen but if it did that would be the answer.
Join Date: Aug 2000
Location: UK
Posts: 285
Likes: 0
Received 0 Likes
on
0 Posts
From the Eimskip website...
http://www.eimskip.com/DesktopDefaul.../27_read-1803/
So presumably something in the pipeline,and not necessarily a purchase by another company?
Eimskip´s loan guarantee provided to the buyers of XL Leisure Group is still valid
Hf. Eimskipafelag Islands today announces that the loan guarantee it provided to the purchasers of XL Leisure Group in the UK in the end of 2006 is still valid. The Company had previously announced that the guarantee would expire on 5 May 2008. Due to difficult market conditions the refinancing has not been completed but Eimskip is in good cooperation with the management of XL Leisure Group and its financial partners. The Company expects the guarantee to be waived in the coming weeks.
For further information
Halldor Kristmannsson
Executive VP of Corporate Communications
Hf. Eimskipafelag Islands today announces that the loan guarantee it provided to the purchasers of XL Leisure Group in the UK in the end of 2006 is still valid. The Company had previously announced that the guarantee would expire on 5 May 2008. Due to difficult market conditions the refinancing has not been completed but Eimskip is in good cooperation with the management of XL Leisure Group and its financial partners. The Company expects the guarantee to be waived in the coming weeks.
For further information
Halldor Kristmannsson
Executive VP of Corporate Communications
So presumably something in the pipeline,and not necessarily a purchase by another company?
Join Date: Nov 2004
Location: scotland
Posts: 760
Likes: 0
Received 0 Likes
on
0 Posts
The decision to buy the XLA woulld be made by The Thomas Cook Group and not TCX. TC plc are on a spending spree but i doubt very much that the XL Group would be on there radar, although stranger things have happened.
XL have a french airline which may be of interest for capacity for the French tour ops of TC. Travel City Direct and Kosmar holidays also may be of use plus the Australian business would give TC a foot back into Australia. We will wait an see.
XL have a french airline which may be of interest for capacity for the French tour ops of TC. Travel City Direct and Kosmar holidays also may be of use plus the Australian business would give TC a foot back into Australia. We will wait an see.
Join Date: May 2008
Location: FL 350
Posts: 346
Likes: 0
Received 0 Likes
on
0 Posts
Thomas Cook scraps plans to buy Air Berlin
Thomas Cook and Air Berlin have scrapped a deal in which Thomas Cook would have taken a 30 per cent stake in Air Berlin and sold its own loss-making airline, Condor, to the budget airline.
The tour operator said today that it and Air Berlin had withdrawn an application for merger approval from the German Bundeskartellamt, the equivalent of the Office of Fair Trading. At the time the deal was announced in September, Thomas Cook said it would receive shares in Air Berlin worth between €380 (£303) and €475 (£379) million plus €120 million in cash.
The tour operator said today that it and Air Berlin had withdrawn an application for merger approval from the German Bundeskartellamt, the equivalent of the Office of Fair Trading. At the time the deal was announced in September, Thomas Cook said it would receive shares in Air Berlin worth between €380 (£303) and €475 (£379) million plus €120 million in cash.
Well it certainly puts a new spin on things! But it is a poorly thought through article, how does 30% (as the journalist says himself) give you ownership?
Everyone here in Germany knows Air Berlin was buying Condor. The fact that Arcandor, the parent of Thomas Cook was taking shares in Air Berlin in part payment was also well known.
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.
Everyone here in Germany knows Air Berlin was buying Condor. The fact that Arcandor, the parent of Thomas Cook was taking shares in Air Berlin in part payment was also well known.
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.
Not sure what you are on about Angels, are you being complimentary about my superlative knowledge or sarcastic. Stupid question this being Pprune it can only be the latter. The radio reported that Air Berlin's shares were up 10% first thing this morning. I am not providing a ticker service, just reporting what Bayern 5 said (bit like radio 4 in lederhosen). The fact that they are back down again is hardly a surprise. If BR5 got it wrong then I guess that further reinforces the message take with a pinch of salt what journos report!
FX Guru
Join Date: Feb 2001
Location: Greenwich
Age: 67
Posts: 900
Likes: 0
Received 0 Likes
on
0 Posts
Complimentary Herr Lederhosen!! It's a shame you thought otherwise.
You correctly surmised that there was something odd about the initial jump. I assume somebody screwed up initially when they saw the news, bought quite heavily in a thin market and then got dumped on.
You correctly surmised that there was something odd about the initial jump. I assume somebody screwed up initially when they saw the news, bought quite heavily in a thin market and then got dumped on.
