Thomas Cook financial woes
Join Date: Feb 2006
Location: Sunderland
Age: 44
Posts: 250
Likes: 0
Received 0 Likes
on
0 Posts
Not to buy companies left right and centre, like Manny did. There is a 5 year plan in place of how we want to go ahead but as of yet, nothing has been revealed. Rumour has it that a majority of long haul will be axed, probably only leaving SFB and CUN. There's no point in having two products when one will do (Mainstream holidays and Signature) but nothing has been said at the moment.
Join Date: Aug 2009
Location: Liverpoolish...
Posts: 197
Likes: 0
Received 0 Likes
on
0 Posts
with all the redundancies on offer...surely its a good time to jump rather than collapse.....
leave with a payout i say and leave them to try and get out of trouble....
the public perception is far too bad to try and save them at the moment
leave with a payout i say and leave them to try and get out of trouble....
the public perception is far too bad to try and save them at the moment
Join Date: Aug 2007
Location: Teesside
Posts: 463
Likes: 0
Received 0 Likes
on
0 Posts
Flew EMA ACE on a A321 in November with 60 passengers. Returned in Dec with 53 passengers. Do you think that this might have something to do with their financial difficulties? Our fares couldn't have paid for the fuel let alone anything else.
Join Date: Nov 2011
Location: Antrim
Posts: 1,601
Likes: 0
Received 0 Likes
on
0 Posts
I flew TOM last yr BHX - ACE in mId Dec and it was about 3/4 empty outbound and was still not full returning despite being combined with EMA due to the weather. Its a dire time prior to Christmas and coupled with the fact charter airlines now have LCC competition on the routes.
Join Date: Aug 2007
Location: West Yorkshire
Posts: 635
Likes: 0
Received 0 Likes
on
0 Posts
Doomed Capt Mainwaring!!
Well we are if this story is anything to go by, but in fact its just another play on words by a lazy journo...Listen to the words of Theo Paphitis (dragons Den)..some of these firms would have gone under in good times, the management is crap, they havent restructured and dont know what to do.......At least Thomas Cook fired its CEO
A large out of town shopping centre near Leeds had to nearly close its car parks for 3 days this week due to volume of shoppers...and dont tell me they were all just looking.
Thomas Cook will survive, because although many are unemployed there are many more millions in work and for most a holiday is now what keeps them going.
A large out of town shopping centre near Leeds had to nearly close its car parks for 3 days this week due to volume of shoppers...and dont tell me they were all just looking.
Thomas Cook will survive, because although many are unemployed there are many more millions in work and for most a holiday is now what keeps them going.
Join Date: Dec 2008
Location: uk
Posts: 913
Likes: 0
Received 0 Likes
on
0 Posts
pretty standard for flights to be half empty or less at certain times of the year, been that way for years, I did half a dozen TCX flights in the run up to Xmas with no seats available on the flight. Neither of these things means anything, the key for IT is turning a profit on the package, not putting just bums on seats. That policy bankrupted MyTravel, basically not knowing what their profit margin was. In actuality, the margin was non-existent and each holiday was actually sold at a loss. TCGroup are a bit smarter than that, but have been stuffed by greed and arrogance in the boardroom. Hmm, heard that before. The question is now, whether the rest of the profitable group can sustain the loss making UK while we take our pain, then (if) when we recover, can the UK operation support the storm approaching the currently profitable European Operations, whose turn it will be as sure as night follows day when the Euro implodes.
Definately a year to keep the CV up to date! GL all for 2012.
Definately a year to keep the CV up to date! GL all for 2012.
Join Date: Nov 2011
Location: Antrim
Posts: 1,601
Likes: 0
Received 0 Likes
on
0 Posts
Also the news about TCX financials only broke relatively recently, I would have thought a large number of package holidays are sold in advance on low deposits etc.
I do agree paully, I think TCX will survive and may even be better off long term for trimming fat and being humbled a bit. Despite what people say about the need to diversify I think its bread and butter is sunshine holidays, maybe more upmarket but maybe not.
I do agree paully, I think TCX will survive and may even be better off long term for trimming fat and being humbled a bit. Despite what people say about the need to diversify I think its bread and butter is sunshine holidays, maybe more upmarket but maybe not.
Might all be down to what happens in Europe. Most of the profitable bits of TCXplc are in continental Europe and are carrying the UK business at the moment. If Europe goes down the tube in a banking crisis then that will seriousy impact the Company. Of course, in the longer term, if the PIGS were to revert back to their own currencies, then we could turn the clock back 20 years and all go to Spain and the Greek Isles for a cheap holidays again. Interesting times.
Join Date: Apr 2004
Location: UK
Posts: 268
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Aug 2000
Location: EGGW
Posts: 2,112
Likes: 0
Received 0 Likes
on
0 Posts
Sorry we are all in the wrong jobs.
For all you pilots, if you
up as he has done, you would not be collecting a big pay off as he has.
However your next of kin might get a fair size insurance pay out, if you know what l mean.
For all you pilots, if you
up as he has done, you would not be collecting a big pay off as he has.However your next of kin might get a fair size insurance pay out, if you know what l mean.
Join Date: May 2011
Location: Derby/EMA
Posts: 164
Likes: 0
Received 0 Likes
on
0 Posts
Hardly unexpected was it....
BBC News - Thomas Cook summer package bookings dive
BBC News - Thomas Cook summer package bookings dive
Join Date: Dec 2011
Location: UK
Posts: 22
Likes: 0
Received 0 Likes
on
0 Posts
tcx
I'm no expert on matters like these but I would imagine that it doesn't take a genius to work out TCXs strategy at the moment.
Bookings may be down 33% year on year, but they've got 8% less holidays to sell. Combine this with the fact their margins are much better than last year I would say they are in quite a good position to start making a bit more profit.
Effectively they've got less to sell and what they have go to sell they are selling it at a higher price.
Perhaps it would be more useful if someone gifted with maths factored in the 8% cut in capacity then worked out how its comparing with the previous year.
I've got a soft spot for Thomas Cook, really wishing them luck!!!!
Bookings may be down 33% year on year, but they've got 8% less holidays to sell. Combine this with the fact their margins are much better than last year I would say they are in quite a good position to start making a bit more profit.
Effectively they've got less to sell and what they have go to sell they are selling it at a higher price.
Perhaps it would be more useful if someone gifted with maths factored in the 8% cut in capacity then worked out how its comparing with the previous year.
I've got a soft spot for Thomas Cook, really wishing them luck!!!!
Join Date: Dec 2011
Location: UK
Posts: 22
Likes: 0
Received 0 Likes
on
0 Posts
I'm not saying it completely explains it, I was just saying that although bookings as a whole are down 33% year on year, with the 8% cut in capacity along with the margins being a LOT better when compared to previous years they are still in a better position than it looks at face value.
Join Date: Dec 2011
Location: UK
Posts: 22
Likes: 0
Received 0 Likes
on
0 Posts
Yes the company is in a pretty bad way but I'd be willing to wager my house on Thomas Cook still being around in ten years time.
Although bookings are reported to be down looking at a 2 week snap shop compared to last year, bookings for the summer had been ahead of schedule in October, November and December. Combine that with the fact they have reduced the number of holidays they had to sell they are pretty much in line with last year in terms of the percentage of holidays they have left to sell.
Having been made redundant twice in the last 9 years it really aggravates me when people seem to revel at the prospect of the demise of a company and the fact that thousands of people will lose their jobs.
I really fail to see how a comment like "its only a matter of time" is even worth posting. Its hardly constructive is it?!
Although bookings are reported to be down looking at a 2 week snap shop compared to last year, bookings for the summer had been ahead of schedule in October, November and December. Combine that with the fact they have reduced the number of holidays they had to sell they are pretty much in line with last year in terms of the percentage of holidays they have left to sell.
Having been made redundant twice in the last 9 years it really aggravates me when people seem to revel at the prospect of the demise of a company and the fact that thousands of people will lose their jobs.
I really fail to see how a comment like "its only a matter of time" is even worth posting. Its hardly constructive is it?!
Join Date: May 2011
Location: Derby/EMA
Posts: 164
Likes: 0
Received 0 Likes
on
0 Posts
Its a rumour website mate, if someone thinks TCX will not be around in ten years they can say so, the fact you dont consider it "constructive" matters not a jot
I too hope they survive, however TBH the way the public now perceive them to be in the last chance saloon does not help, why would jo public book with TCX when he can get the same deal with a company he deems to be safe, if you have one summer holiday to look forward to are you really going to risk it?.
I too hope they survive, however TBH the way the public now perceive them to be in the last chance saloon does not help, why would jo public book with TCX when he can get the same deal with a company he deems to be safe, if you have one summer holiday to look forward to are you really going to risk it?.
Join Date: Dec 1999
Posts: 342
Likes: 0
Received 0 Likes
on
0 Posts
monarchnew
I posess a number of the "redundancy" tee shirts thank you.
The whole market has changed. The charter market is deminishing especially in the UK as witnesses by how many UK charter airlines are no longer with us.
I have no doubt what-so-ever that TCX will survive as they remain profitable in Germany and Scandanavia.
However, TCX performance in the UK is lamentable and getting worse, fact.
The question is how long the UK operation will be allowed to operate on this basis.
Oh and just for the record. They have a very large portion of my pension and it is not in my interest to see this buisness disappear.
We are seeing many famous names in high street disappear. The same I fear will happen to TCX UK........it is...a matter of time especially when you factor in the perilous state of the UK economy alongside many of its European counterparts.
No, its not good. But lets not pretend. This is a very real possibility.
I posess a number of the "redundancy" tee shirts thank you.
The whole market has changed. The charter market is deminishing especially in the UK as witnesses by how many UK charter airlines are no longer with us.
I have no doubt what-so-ever that TCX will survive as they remain profitable in Germany and Scandanavia.
However, TCX performance in the UK is lamentable and getting worse, fact.
The question is how long the UK operation will be allowed to operate on this basis.
Oh and just for the record. They have a very large portion of my pension and it is not in my interest to see this buisness disappear.
We are seeing many famous names in high street disappear. The same I fear will happen to TCX UK........it is...a matter of time especially when you factor in the perilous state of the UK economy alongside many of its European counterparts.
No, its not good. But lets not pretend. This is a very real possibility.
Join Date: Dec 2008
Location: uk
Posts: 913
Likes: 0
Received 0 Likes
on
0 Posts
I do wish people would stop posting cr*P like that above about TCX, for a start this is a PILOTS forum so its about FLYING the problems with TCX are about the TOUR OPERATOR, so post stuff like this on a TOURISIM FORUM. At least look at whats around and be even handed about it, see below!
Should I buy shares in Thomas Cook? | Interactive Investor
I'll leave now..........
Should I buy shares in Thomas Cook? | Interactive Investor
I'll leave now..........
Join Date: May 2011
Location: Derby/EMA
Posts: 164
Likes: 0
Received 0 Likes
on
0 Posts
It think you may well find old chap that the fortunes of the tour operator will have a direct impact upon the airline, therefore id say these posts are very relevant, and strictly speaking this is not a exclusive pilots forum