Thomas Cook financial woes
Join Date: Dec 2008
Location: uk
Posts: 913
Likes: 0
Received 0 Likes
on
0 Posts
PROFESSIONAL PILOTS RUMOR NETWORK, the name is kind of a giveaway, but this is a public forum, so post away. BUT, if you re-hash garbage from the press about my airline and are so lazy that you can't even put up a bit of reasoned argument as to why you think this article might be accurate, then I'll feel free to get agitated when I'm told I might be made UNEMPLOYED by the end of the year. There were several articles refuting the original Financial Times garbage had the poster bothered to check.
Join Date: Dec 2011
Location: UK
Posts: 22
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: May 2011
Location: Derby/EMA
Posts: 164
Likes: 0
Received 0 Likes
on
0 Posts
"Garbage from the press"?? ...The companies going down the pan mate, if you wish to do a ostrich impersonation carry on, but dont castigate people for saying it as it actually is.
Last edited by Topspotter; 24th Jan 2012 at 23:29.
How do you work that one out then Topspotter? May be you could enlighten us with your extensive knowledge of Tomas Cook. Especially the part about how one inaccurate article in the FT relating to a 2 week booking period for a business that accounts for only 10% of the group as a whole means that Thomas Cook is going down the pan.
I had a meeting with a couple of Thomas Cook managers last month; and while they clearly anticipating tough trading conditions this year, they were relatively upbeat about the future and have made capacity cuts (among other things) to ensure they make it out the other end. Hopefully stronger.
I dont know why you would want to post such a thing on a forum that you know employees visit?
"Garbage from the press"?? ...The companies going down the pan mate, if you wish to do a ostrich impersonation carry on, but dont castigate people for saying it as it actually is.
Last edited by pug; 25th Jan 2012 at 11:58.
Join Date: Nov 2007
Location: mildlands uk
Age: 40
Posts: 16
Likes: 0
Received 0 Likes
on
0 Posts
With regards booking being down! All I can say is a 2 week period is not reflective enough of the entire situation bookings for summer 2012 were ahead where they were expected to be at the end of last year incidacting people had booked earlier than usual? Another thing spend per head is higher meaning bookings being made are of a higher value and shops are discounting less this means that the yield is much better and that is what is needed going forward! It's alright having having full planes and high volumes but only if you are making a profit on what is sold! When press are looking at bookings they are not looking At the yield just bums on seats 
With the co-operative travel and membership points. You can still earn membership points in all co-operative branded shops and staff will happily help become a member if you are not already one just ask.
Going forward things maybe hard but it's certainly going in the right direction moving away from low yield low profit to high yield high profit packages.
With the co-operative travel and membership points. You can still earn membership points in all co-operative branded shops and staff will happily help become a member if you are not already one just ask.
Going forward things maybe hard but it's certainly going in the right direction moving away from low yield low profit to high yield high profit packages.
Join Date: May 2011
Location: IOM
Posts: 967
Likes: 0
Received 0 Likes
on
0 Posts
tinyflyerBHX,
Considering The Co-operative have expressed their issues in the matter to TCX, your statement is false. You can no longer earn co-op points in the Co-operative Travel stores nor receive a dividend on those purchases. Additionally, Co-Op staff members no longer receive their 5% discount, but instead a less appealing deal from TCX.
Considering The Co-operative have expressed their issues in the matter to TCX, your statement is false. You can no longer earn co-op points in the Co-operative Travel stores nor receive a dividend on those purchases. Additionally, Co-Op staff members no longer receive their 5% discount, but instead a less appealing deal from TCX.
Join Date: Nov 2007
Location: mildlands uk
Age: 40
Posts: 16
Likes: 0
Received 0 Likes
on
0 Posts
JSCL
Please provide evidence to back up what you are saying!
Certainly in the area where I live you can still earn membership on purchases in The co-operative, midlands co-operative and Ilkeston co-op branded travel shops! I got asked for for my card yesterday when paying a balance. I have just checked both the co-operative group and midlands co-operative websites and its states you earn 1point for every £2 spent in travel!
I also know some one who works for Midlands co-op and they got 5% staff discount off there holiday when they booked at last minute deal on Saturday!
I don't know where your getting your info from but please check your sources.
Kind regards
tinyflyerBHX
Certainly in the area where I live you can still earn membership on purchases in The co-operative, midlands co-operative and Ilkeston co-op branded travel shops! I got asked for for my card yesterday when paying a balance. I have just checked both the co-operative group and midlands co-operative websites and its states you earn 1point for every £2 spent in travel!
I also know some one who works for Midlands co-op and they got 5% staff discount off there holiday when they booked at last minute deal on Saturday!
I don't know where your getting your info from but please check your sources.
Kind regards
tinyflyerBHX
Join Date: May 2011
Location: IOM
Posts: 967
Likes: 0
Received 0 Likes
on
0 Posts
Oh my information comes from a lady who is a close personal friend of mine whose surname is Barr.
TCX are instead wanting to push their 'Friends and Families' scheme vs the original 5% co-op staff discount scheme. I'm unsure if this is a current situation or that the Co-op have been notified of TCx's intention to create such a situation. Either way, this news arrived to the Co-op on Tuesday.
TCX are instead wanting to push their 'Friends and Families' scheme vs the original 5% co-op staff discount scheme. I'm unsure if this is a current situation or that the Co-op have been notified of TCx's intention to create such a situation. Either way, this news arrived to the Co-op on Tuesday.
Join Date: Nov 2007
Location: mildlands uk
Age: 40
Posts: 16
Likes: 0
Received 0 Likes
on
0 Posts
As far as membership is concerned I've just spoken to a friend who is branch manager on the co-operative side and memebership is still very much being promoted in shops and people are still earning points and dividend on said points.
Staff discount maybe about to change but nothing communicated yet. still the old scheme in place.
Now back to aviation.
Kind regards
tinyflyerBHX
Staff discount maybe about to change but nothing communicated yet. still the old scheme in place.
Now back to aviation.
Kind regards
tinyflyerBHX
Join Date: Dec 1999
Posts: 342
Likes: 0
Received 0 Likes
on
0 Posts
Ummmmmmm
Now its probably me......but
AA/ Massive debt to restructure.
BB/ Despite plenty of cut backs and redundancies bookings are well down according to various sources.
CC/ The IT market in the UK is in decline and has been for some time.
DD/ TCX board does not seem to have had a happy time of things.
EE/ Uk economy looks like having its double dip recession. To be confirmed in due course.
FF/ The Euro Zone dangling on a precipice and the IMF warning of "1930" type conditions.
GG/ Iran situation pointing towards a potential fuel price hike of historic proportions.
Yep TCX is in a great position.
Best of luck to them....we might all need it in the comming months.......
Now its probably me......but
AA/ Massive debt to restructure.
BB/ Despite plenty of cut backs and redundancies bookings are well down according to various sources.
CC/ The IT market in the UK is in decline and has been for some time.
DD/ TCX board does not seem to have had a happy time of things.
EE/ Uk economy looks like having its double dip recession. To be confirmed in due course.
FF/ The Euro Zone dangling on a precipice and the IMF warning of "1930" type conditions.
GG/ Iran situation pointing towards a potential fuel price hike of historic proportions.
Yep TCX is in a great position.
Best of luck to them....we might all need it in the comming months.......
Join Date: Nov 2011
Location: South East
Posts: 41
Likes: 0
Received 0 Likes
on
0 Posts
AsTopspotter clearly knows how TC is doing far better than the board, the city, or the media, perhaps he'd be kind enough to advise me: should I put my house on the market now? Should I go for that contract captain's job in China and tell my wife she won't be seeing me for four weeks out of six, should I think of selling my golf clubs on e-bay because by the end of the winter I'll have eaten through my savings trying to keep my head above water in the wonderful world of the unemployed? Because that's what happens Topspotter "mate" when our employers go down that "pan" of yours. There's a whole bunch of us on this site who've been through just that situation before, and we don't need you to remind us of what can happen to a struggling company.
No, of course things aren't great at TC at the moment. But there are some good people trying very hard to recover. Bookings were going to be down because of the declared move from volume to margin, and the endless bad press. No one has yet substantiated that 30% slide. It came from a rumour in the travel press. One monitoring company has already refuted that they were the source. But hey, since when did the media feel the need to apply balance? We'll know the truth on 8 Feb with the latest city up-date. And as matter of detail, that debt doesn't need restructuring, it needs reducing. Which is why the group is selling non-core assets.
So, Topspotter, next time you come across someone lying injured in the street, maybe you'd like to wish the victim and the paramedics the very best of luck, because telling them "you're going down the pan mate" will not reflect well upon your generosity.
No, of course things aren't great at TC at the moment. But there are some good people trying very hard to recover. Bookings were going to be down because of the declared move from volume to margin, and the endless bad press. No one has yet substantiated that 30% slide. It came from a rumour in the travel press. One monitoring company has already refuted that they were the source. But hey, since when did the media feel the need to apply balance? We'll know the truth on 8 Feb with the latest city up-date. And as matter of detail, that debt doesn't need restructuring, it needs reducing. Which is why the group is selling non-core assets.
So, Topspotter, next time you come across someone lying injured in the street, maybe you'd like to wish the victim and the paramedics the very best of luck, because telling them "you're going down the pan mate" will not reflect well upon your generosity.
Join Date: May 2011
Location: Derby/EMA
Posts: 164
Likes: 0
Received 0 Likes
on
0 Posts
No need to lecture me about the realities of the free market im afraid as with most in this game ive been surplus to requirements a few times .
Actually even though the company in the UK is indeed going down the pan at present it will im sure survive in a smaller form if the board have the courage to take the required action.
As for the airline i think more and more work will be farmed out indeed thats already happening, and i can see more of the aircraft maintenance work being done out of house in fact it may go altogether TCX can no longer IMO afford the luxury of its own engineering business
Actually even though the company in the UK is indeed going down the pan at present it will im sure survive in a smaller form if the board have the courage to take the required action.
As for the airline i think more and more work will be farmed out indeed thats already happening, and i can see more of the aircraft maintenance work being done out of house in fact it may go altogether TCX can no longer IMO afford the luxury of its own engineering business
Join Date: May 2011
Location: Derby/EMA
Posts: 164
Likes: 0
Received 0 Likes
on
0 Posts
Im afraid the engineering side is far from profitable, in fact it made a large loss last year.
The only way that huge hangar over at man is ever going to make a profit is when its generating large amounts of man hours and that means big labour intensive maintenance checks year round, not being used as it is currently with the massive overheads incurred, i think this time next year all that will reamain is possibly a line engineering operation
The only way that huge hangar over at man is ever going to make a profit is when its generating large amounts of man hours and that means big labour intensive maintenance checks year round, not being used as it is currently with the massive overheads incurred, i think this time next year all that will reamain is possibly a line engineering operation
