Thomas Cook financial woes
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BRAKES HOT
I did not say TCX were not carrying out "C" checks at MAN, l know they are, but not the larger "C" checks.
I think they are carrying out "1C" and maybe "2C" checks, but that is about that, not even sure if they have CAA approval for any thing bigger.
I think they are carrying out "1C" and maybe "2C" checks, but that is about that, not even sure if they have CAA approval for any thing bigger.
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Has anyone noticed a bit of a disjoint here? Whenever the media gets the aircraft type wrong in a story, or fails to understand some other detail, we scream at them for their inaccuracy. Yet we're perfectly happy to accept pronouncements on financial or operational issues when a company's having a hard time without question. If you look at the recent press covergage of TC, most of it is recycled stories based on a handful of quotes from analysts - and we know how infalable they are. I'm not saying TC doesn't face a hard road ahead, of course it does. But if you seriously study the coverage, you will see most of it is reporting someone else's view. The only people who know the true state of TC are the board and the bankers. At the moment they both seem agreed on a strategy for survival. The old group management has been ruthlessly culled, the disposals are already underway and sometime around the 12 Dec the group will announce its profits...yes PROFITS...and its plans for the future. Today the company began its fightback with full page press adverts. If you seriously think the investers and their bankers will casually allow almost £9 BILLION in world-wide sales to slip through their fingers...
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Deepnight – as you say yourself, they’re working on survival and why forward book with a company that’s even talking of survival when there are plenty of others out there. The only reason would be price, and that leads to other problems.
TCX will survive in one shape or another, as it’s still a great brand but the group will look very different to today.
The concern is that the investors and bankers did allow the Group to get one month away from running out of cash, so I’d take little comfort from what they allow nor not! Equally, most Boards are great on big picture strategy but haven’t got a clue what’s going on operationally and I doubt they have the real-time information required to help with any short-term decision making anyway.
This is another group that has been knackered by bad acquisitions and a board disjointed from reality.
TCX will survive in one shape or another, as it’s still a great brand but the group will look very different to today.
The concern is that the investors and bankers did allow the Group to get one month away from running out of cash, so I’d take little comfort from what they allow nor not! Equally, most Boards are great on big picture strategy but haven’t got a clue what’s going on operationally and I doubt they have the real-time information required to help with any short-term decision making anyway.
This is another group that has been knackered by bad acquisitions and a board disjointed from reality.
Waco
I cannot see TUI wanting a merger unless on terms so beneficial that it would be a non-starter anyway; for that matter would the prospect of a State holiday company be accepted by the powers that be ? Competition is a good thing and I expect that TC will indeed survive although in a very different form than that which exists at the moment. TUI will be a winner to some extent insomuch that they will pick up additional custom on the high street and they may well fly more TC customers on certain routes than they do already.
Old mates in TC - I have no desire to see them out of a job
I cannot see TUI wanting a merger unless on terms so beneficial that it would be a non-starter anyway; for that matter would the prospect of a State holiday company be accepted by the powers that be ? Competition is a good thing and I expect that TC will indeed survive although in a very different form than that which exists at the moment. TUI will be a winner to some extent insomuch that they will pick up additional custom on the high street and they may well fly more TC customers on certain routes than they do already.
Old mates in TC - I have no desire to see them out of a job
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WACO, you do exactly what the company says it's doing: you sell non-core assets to reduce the debt, cut costs and take action to improve the margins. Lets remember this is not a figure of 1billion in bright red on the profit and loss account at the end of each year. And this debt pile was approved by the group's banks. It consists of several factors: aquisitions, share-buybacks, leases etc... (Some of them now seen to be highly unwise, I accept, but they may well have looked like a good prospect at the time.) Yes, in the current trading environment and the collapse of the share price, that bebt now looks way too big. But the company has already announced it's taking action to reduce it. (If you don't believe it, ask the ladies and gentlemen who are presently at threat of demotion, relocation and redundancy.) And we should also remember that outside the UK the group is doing pretty well in the current climate. (And making a projected gross profit in the UK of some hundreds of millions in the worst trading conditions ever, isn't exactly a mark of a doomed company, is it?)
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Summer 2012 plan
Hi
Does anybody know the plans of where the aircraft is going for next summer?
Reports in press of 6 less aircraft is this for the summer or is that 6 aircraft which every winter gets leased out?
My local airport is ncl
Last year we had 4 aircraft based but 2 aircraft were from other airlines flying on behalf of TCX.
With booking across the board down +30% and more unemployment around the uk was wondering what will be the plan around the uk
The website had shown certain flights at ncl for next summer to be operated by AEU and mint but AEU are now no more plus that information from TCX seems to have now gone.
Does that mean ncl is now 4 in house based TCX aircraft?
Does anybody know the plans of where the aircraft is going for next summer?
Reports in press of 6 less aircraft is this for the summer or is that 6 aircraft which every winter gets leased out?
My local airport is ncl
Last year we had 4 aircraft based but 2 aircraft were from other airlines flying on behalf of TCX.
With booking across the board down +30% and more unemployment around the uk was wondering what will be the plan around the uk
The website had shown certain flights at ncl for next summer to be operated by AEU and mint but AEU are now no more plus that information from TCX seems to have now gone.
Does that mean ncl is now 4 in house based TCX aircraft?
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HH6702
Six aircraft out of the fleet. But the 30% drop was UK only in the aftermath of the spectacularly ill-timed announcement. I'm told it's beginning to recover and TC will clearly want to push bookings in the peak booking period after Christmas. Other posts have pointed to the current press campaign.
Six aircraft out of the fleet. But the 30% drop was UK only in the aftermath of the spectacularly ill-timed announcement. I'm told it's beginning to recover and TC will clearly want to push bookings in the peak booking period after Christmas. Other posts have pointed to the current press campaign.
how about taking over their lease then? Can one take over a lease?
No one knows at the moment. The situation has stabilised, and we are awaiting the results of a review of the UK business. This is due to be communicated along with the year end result on Wednesday. We will know more then.
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@The Grey Man
TC is reviewing there whole UK business just now, The financial results are due out soon, I would assume there will be information released then about the groups strategy for the UK and beyond. TCX fleet changes have already been discussed on here. As an employee of the business i feel that massive changes are coming, I believe the UK business will be totally different in the next couple of years. but that is just my opinion.
TC is reviewing there whole UK business just now, The financial results are due out soon, I would assume there will be information released then about the groups strategy for the UK and beyond. TCX fleet changes have already been discussed on here. As an employee of the business i feel that massive changes are coming, I believe the UK business will be totally different in the next couple of years. but that is just my opinion.