Airlines, Airports & Routes Topics about airports, routes and airline business.

Thomas Cook-2

Old 7th May 2019, 11:55
  #441 (permalink)  
 
Join Date: Apr 2003
Location: Northumberland
Posts: 4,282
Lufthansa has made a nonbinding offer for Thomas Cook’s German airline, Condor, with an option to extend it to the UK group’s other airlines, the German carrier's chief executive confirmed today.
"We believe that we can offer Condor good prospects and maintain the business as a whole, both long- and short-haul operations," Carsten Spohr said ahead of the group's annual shareholder meeting in Bonn. Reuters separately quoted Spohr as saying that anti-trust regulations made it unlikely a single buyer could acquire all the Thomas Cook airlines.
Lufthansa bids for Thomas Cook's Condor
SWBKCB is online now  
Old 7th May 2019, 12:19
  #442 (permalink)  
 
Join Date: Feb 2008
Location: DORSET
Age: 62
Posts: 656
What comes around again eh?




Max and Fritz

Viva Espana



What next - do we see a rebirth of Caledonian here in the UK?
rog747 is offline  
Old 9th May 2019, 16:16
  #443 (permalink)  
 
Join Date: Oct 2006
Location: Manchester
Posts: 206
Virgin expresses interest in TCX longhaul

https://news.sky.com/story/virgin-at...rline-11715547
partyboy_uk is offline  
Old 10th May 2019, 16:28
  #444 (permalink)  
 
Join Date: Sep 2008
Location: Blighty
Posts: 3,574
Thomas Cook Scandinavia

Apologies for the slight thread drift, but I'm trying to book a charter flight with Thomas Cook Scandinavia from Sweden to Greece. Thomas Cook's travel agency in Sweden, Ving, accepts only credit cards issued in the Nordic countries and the airline won't take direct bookings. I've tried the likes of Expedia, Opodo, Trailfinders, Hahn Air and Apollo but none of them recognise the flight. Spoken to Thomas Cook UK head office in Peterborough and their travel agency in Denmark called Spies but no luck. Ving do not have branches either in towns or airports any more - all Internet only. Being Swedish, Ving don't ccept that legacy thing called cash and bank transfers have to be done within 2 hours (so forget international bank transfers). No they don't take Paypal

Does anyone know how to book a Thomas Cook charter flight out of Sweden for someone who has credit/debit cards issued in the UK ?
davidjohnson6 is online now  
Old 10th May 2019, 16:37
  #445 (permalink)  
 
Join Date: Jul 2006
Location: STANSTED & MANCHESTER
Posts: 1,679
Could you book via skyscanner?
daz211 is offline  
Old 10th May 2019, 17:19
  #446 (permalink)  
 
Join Date: Aug 2009
Location: London
Posts: 255
You could try using Transferwise. They're normally very quick
jdcg is offline  
Old 16th May 2019, 07:02
  #447 (permalink)  
 
Join Date: Aug 2014
Location: BHX
Posts: 253
Brigantee is offline  
Old 16th May 2019, 07:56
  #448 (permalink)  
 
Join Date: Oct 2004
Location: UK
Posts: 1,623
Pretty sloppy report that, though the headline figure is accurate. According to a guest on BBC Business Live this morning, from VSA Capital, the real loss is £280m, the rest being a one off charge. Still doesn't make it good, but touting figures of £1.5bm isn't likely to encourage potential customers from investing their hard earned (or worse borrowed) cash into forward bookings.

It also wouldn't surprise me if credit card companies didn't start playing the same trick they did with FlyBe in withholding payments to TC to protect their positions.
ATNotts is offline  
Old 16th May 2019, 09:02
  #449 (permalink)  
 
Join Date: Aug 2007
Location: West Yorkshire
Posts: 597
Originally Posted by ATNotts View Post
cash into forward bookings.

It also wouldn't surprise me if credit card companies didn't start playing the same trick they did with FlyBe in withholding payments to TC to protect their positions.

which is what they also did with Monarch...The good news seems to be that there is healthy interest in the airline operation which should be good news for jobs going forward.

paully is offline  
Old 17th May 2019, 14:16
  #450 (permalink)  

I Have Control
 
Join Date: May 2004
Location: Windlesham
Posts: 1,177
Rapid descent

Chances are any prospective buyers will wait until the whole group goes into administration. They can then cherry-pick tasty parts of the airline structure for virtually nothing.

You gotta feel for the folks inside that company, which seems to have been mismanaged terribly. Job losses running into the thousands is not what this country needs, let alone families and communities. And other countries are involved too. Same applies.
RoyHudd is offline  
Old 17th May 2019, 14:23
  #451 (permalink)  
 
Join Date: Jul 2006
Location: STANSTED & MANCHESTER
Posts: 1,679
Originally Posted by RoyHudd View Post
Chances are any prospective buyers will wait until the whole group goes into administration. They can then cherry-pick tasty parts of the airline structure for virtually nothing.

You gotta feel for the folks inside that company, which seems to have been mismanaged terribly. Job losses running into the thousands is not what this country needs, let alone families and communities. And other countries are involved too. Same applies.
The share price has dropped to just 10p a share, Iím struggling to decide to sell or buy a whole load more.
it must be a very troubling time for all staff and passengers waiting to travel on their summer holidays.
im not saying this is the end of Thomas Cook just a very worrying time for all involved.
daz211 is offline  
Old 17th May 2019, 18:10
  #452 (permalink)  
 
Join Date: Aug 2007
Location: Newcastle upon Tyne
Posts: 58
Originally Posted by daz211 View Post

The share price has dropped to just 10p a share, Iím struggling to decide to sell or buy a whole load more.
it must be a very troubling time for all staff and passengers waiting to travel on their summer holidays.
im not saying this is the end of Thomas Cook just a very worrying time for all involved.
I bought some at 50p thinking they wouldnít go any lower! So not really too reliable here but...

I think the analyst report estimated that the enterprise value was the same as the debt so no equity value.

While unusual/worrying for a listed company itís quite common in the private equity world.

Its if the debt holders donít get their money back then itís dire straights.

the massive loss re my travel write down is an accounting thing only and not cash flow so hopefully there is a rabbit in a bag somewhere waiting to be pulled out.
DanAir89 is offline  
Old 17th May 2019, 18:21
  #453 (permalink)  
 
Join Date: Mar 2013
Location: wales
Age: 57
Posts: 49
Originally Posted by DanAir89 View Post

I bought some at 50p thinking they wouldnít go any lower! So not really too reliable here but...

I think the analyst report estimated that the enterprise value was the same as the debt so no equity value.

While unusual/worrying for a listed company itís quite common in the private equity world.

Its if the debt holders donít get their money back then itís dire straights.

the massive loss re my travel write down is an accounting thing only and not cash flow so hopefully there is a rabbit in a bag somewhere waiting to be pulled out.
I got my fingers burnt with the Flybe fiasco, wondering if its worth using my paltry one pence per share I was paid, having a punt on Thomas Cook.
supermarine is offline  
Old 18th May 2019, 09:53
  #454 (permalink)  
 
Join Date: Aug 2014
Location: BHX
Posts: 253
yhhttps://www.thisismoney.co.uk/money/...worthless.html

https://www.dailymail.co.uk/news/art...ook-fears.html

https://news.sky.com/story/thomas-co...-cash-11722884

Last thing needed at the moment is scare stories like this undermining people’s confidence in booking

Last edited by Brigantee; 18th May 2019 at 14:21.
Brigantee is offline  
Old 18th May 2019, 18:38
  #455 (permalink)  
 
Join Date: Mar 2011
Location: East Midlands
Posts: 433
Originally Posted by Brigantee View Post
yhhttps://www.thisismoney.co.uk/money/...worthless.html

https://www.dailymail.co.uk/news/art...ook-fears.html

https://news.sky.com/story/thomas-co...-cash-11722884

Last thing needed at the moment is scare stories like this undermining peopleís confidence in booking
The media are selfish and thrive for negativity for stories. So anyway they can delve deeper to make things worse they will. Awful.
Cazza_fly is offline  
Old 18th May 2019, 19:14
  #456 (permalink)  
 
Join Date: Sep 2008
Location: Blighty
Posts: 3,574
Democracy and a free society tends to go with the ability for media to report both good and bad things. Because we know the press can and do report the bad things, we have a higher level of trust when they report the good. If people know that bad stuff will eventually make it to the public domain, they are incentivised against being corrupt and tend to be honest, and do things to the best of their ability.
Without transparency and openness in the information we read, we end up in a despotic society (e.g. Soviet Union) where nobody trusts anything they read and nobody is willing to spend money or invest anything.

On a similiar theme, Boeing are embarassed about the 737 Max, but the freedom of media to report has ensured that our Govt leaders are doing (eventually) what most people perceive to be the right thing
davidjohnson6 is online now  
Old 18th May 2019, 19:33
  #457 (permalink)  
 
Join Date: Sep 2017
Location: UK
Posts: 55
Can someone here explain what a £1.25 billion "write-down" is? What exactly does it mean and what does "good-will" have to do with it?
Seems like a massive PR disaster to even discuss their own debt like this. Customer confidence will be so negative now. This alone is likely to destroy the company, forget the debt.
RudderTrimZero is offline  
Old 18th May 2019, 20:14
  #458 (permalink)  
 
Join Date: Aug 2010
Location: Birmingham
Posts: 19
Bloodsuckers

Sadly hedge funds are shorting the shares and smell blood. Bloodsuckers the lot of them, no interest in the company or itís employees.
auntyice is offline  
Old 18th May 2019, 21:09
  #459 (permalink)  
 
Join Date: Aug 2016
Location: Oban, Scotland
Posts: 1,108
Originally Posted by RudderTrimZero View Post
Can someone here explain what a £1.25 billion "write-down" is? What exactly does it mean and what does "good-will" have to do with it?
Seems like a massive PR disaster to even discuss their own debt like this. Customer confidence will be so negative now. This alone is likely to destroy the company, forget the debt.
As I understand it, when TC bought MyTravel, they considered it had a capital value of £x billion. They now believe it is worth £1.5 billion less. This is important because the capital value of a company's assets have to be set against its liabilities or debts, and TC has huge debts.

As for "goodwill" if a company buys another, part of the price will be the physical assets, bank balance etc, and its existing order book, but some will be the good name of the business, its contacts, and so on.

That's how I understand it, but I'm not an economist or accountant.



inOban is offline  
Old 18th May 2019, 21:34
  #460 (permalink)  
 
Join Date: Apr 2015
Location: UK
Posts: 152
Originally Posted by inOban View Post
As I understand it, when TC bought MyTravel, they considered it had a capital value of £x billion. They now believe it is worth £1.5 billion less. This is important because the capital value of a company's assets have to be set against its liabilities or debts, and TC has huge debts.

As for "goodwill" if a company buys another, part of the price will be the physical assets, bank balance etc, and its existing order book, but some will be the good name of the business, its contacts, and so on.

That's how I understand it, but I'm not an economist or accountant.
Yeah that pretty much sums up goodwill in a nutshell. Put very simply, in the case of acquisition, any value not explicitly explained by the assets/liabilities can be deduced to be goodwill.
ROC10 is offline  

Thread Tools
Search this Thread

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.