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Thomas Cook-2

Old 21st Sep 2019, 20:16
  #981 (permalink)  
 
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I'm also led to believe that there is a creditor's meeting tomorrow morning (Sky). That is highly unusual.
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Old 21st Sep 2019, 20:16
  #982 (permalink)  
 
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Thomas Cook to meet creditors in final bid for £1bn rescue

https://news.sky.com/story/thomas-co...escue-11816496
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Old 21st Sep 2019, 20:18
  #983 (permalink)  
 
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The Irony of the fact that at 9am tomorrow the last ditch talks take place at the offices of "Slaughter & May" is shocking of itself. Despite the unfortunate name, the firm is known as the best asset strippers in the business. Sorry DOCQ , you're looking like that geezer what did Saddam Hussain's PR during the second gulf war, who said that Baghdad was safe, as American tanks drove up the street behind him on live TV.
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Old 21st Sep 2019, 20:31
  #984 (permalink)  
 
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Originally Posted by STN Ramp Rat View Post


do you really think they are briefing staff in the travel shops with this level of detail and not staff in the airlines.... itís an individuals opinion for gods sake and therefore no more reliable than 99.9% of the posting on this forum
Not at all but staff in these situations will resort to their conscience. They have been in a communication vacuum and as time goes on they lose faith. Thomas Cook have already lost consumer confidence which is almost terminal damage, itís staff giving up hope seals itís fate. I hope Iím wrong.
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Old 21st Sep 2019, 20:33
  #985 (permalink)  
 
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1. With regards to the previous posts with regards to Redundancy payments by the government.
Yes there is a max figure per week and it is all worked out with regards to length of service and your age.
The payment is paid NI & Tax free.
2. Why should the UK Government rescue the TCG, the majority of their business within the the UK, is providing holidays outside of the UK.
The UK wants people taking holidays within the UK and spending their money within the UK, not outside of the UK.
I am saying this as someone who spent his working life tied up within holiday companies and airlines that supply the same type of product that TCG provides.
I do wish all TCG staff the best of luck.
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Old 21st Sep 2019, 20:35
  #986 (permalink)  
 
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Originally Posted by KelvinD View Post
I listened to the head of TSSA on the radio this morning. He very sensibly pointed out that the most important thing the government should remember while dithering is that, should TC go down, that will effectively leave a monopoly situation re package holiday and that monopoly will be with TUI. I know Jet2 could be considered but I think he was right, TUI would trump the lot.
As it stood for the 12 months to September 2019:
Tui UK has an Atol for 5,678,163 protected seats
Jet2holidays for 3,810,320 seats
Thomas Cook is the third largest at 2,471,042

I wouldn't call that a monopoly.
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Old 21st Sep 2019, 20:41
  #987 (permalink)  
 
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Also times have have changed, tui's biggest competition is skyscanner and booking dot com
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Old 21st Sep 2019, 20:45
  #988 (permalink)  
 
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.......................
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Old 21st Sep 2019, 20:46
  #989 (permalink)  
 
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Originally Posted by cessnaxpilot View Post
Look at the date that article was written
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Old 21st Sep 2019, 20:51
  #990 (permalink)  
 
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Originally Posted by bamcb38c View Post
Also times have have changed, tui's biggest competition is skyscanner and booking dot com
For separate flights and rooms maybe but not package holidays:

Licence holder (and passengers licensed)

TUI UK Ltd - 5,678,163

Jet2holidays - 3,810,320

Thomas Cook Tour Operations Ltd - 2,471,042

On The Beach Ltd - 1,302,261

Expedia, Inc - 1,178,450

British Airways Holidays Ltd - 939,802

We Love Holidays Ltd - 804,618

easyJet Airline Company Ltd - 705,020

BravoNext SA - 568,096

Travel Republic Ltd - 554,102
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Old 21st Sep 2019, 20:51
  #991 (permalink)  
 
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Originally Posted by cessnaxpilot View Post
.......................
That article is dated back in May
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Old 21st Sep 2019, 21:03
  #992 (permalink)  
 
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there's nothing worth rescuing here now. it's be like throwing good money after bad. i feel sorry for the staff though. i know from personal experience what all this feels like. it went fairly close to the wire in 2011/12 and its predecessor MyTravel very nearly went the same way in 2006. i think it's in it's DNA now. I remember reading an article from CitiGroup back in may (when shares hit 10p) saying the shares were worthless. how right they were. any expense repatriating stranded people should be covered by the ATOL levy. and IF they do fold, whilst TUI and Jet2 would remain as the dominant market players, the way holidays are sold now is evolving in a way that differs from before the tinternet existed and it was all just big tour operators. There would be no monopoly as some are suggesting (as the reason to keep tcx afloat).
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Old 21st Sep 2019, 21:12
  #993 (permalink)  
 
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Originally Posted by dada View Post
there's nothing worth rescuing here now. it's be like throwing good money after bad. i feel sorry for the staff though. i know from personal experience what all this feels like. it went fairly close to the wire in 2011/12 and its predecessor MyTravel very nearly went the same way in 2006. i think it's in it's DNA now. I remember reading an article from CitiGroup back in may (when shares hit 10p) saying the shares were worthless. how right they were. any expense repatriating stranded people should be covered by the ATOL levy. and IF they do fold, whilst TUI and Jet2 would remain as the dominant market players, the way holidays are sold now is evolving in a way that differs from before the tinternet existed and it was all just big tour operators. There would be no monopoly as some are suggesting (as the reason to keep tcx afloat).
The medical term would be DNR.... Do Not Resuscitate.

Yes its sad for the staff of the UK company, and also for the Condor ops and the TC Nordic ops.

If those countries felt that there was something worth saving for their citizens, they would have put up offers for them

The Germans have not mounted a rescue for TC in respect of Condor

The Nordics (Norway and Sweden) have not mounted a rescue for the Nordic operations.

The Europeans clearly see the writing on the wall for this business, as do I, and as do the city. The share price says it all. Its over. It's sad, it's a loss to the British industry, but that is that.

To the chap that is absolutely hellbent on a rescue.... let me ask you this.... if the British government rescued every failing business, where would we be? Woolworths? yes? Zavvi? Yes? XL Airways? Yes? BHS? Yes? What's next? shall we nationalise Debenhams, Sainsburys and Asda on the quicktime before they go bust???
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Old 21st Sep 2019, 21:13
  #994 (permalink)  
 
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I wouldn't underestimate the rate at which you might see Easyjet expand into this market place. The top echelons of the company are now predominantly ex-TUI brought in by the CEO.
Between Jet2 and Easy the gap would be filled within 18 months and a lot of the staff would be able to find jobs with these guys plus TUI.
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Old 21st Sep 2019, 21:14
  #995 (permalink)  
 
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Originally Posted by bamcb38c View Post
Look at the date that article was written
Wow... you were on it. I seriously deleted the post within 30 seconds of posting.

sorry I didnít catch it before posting.
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Old 21st Sep 2019, 21:25
  #996 (permalink)  
 
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diffident said :
ď....The Nordics (Norway and Sweden) have not mounted a rescue for the Nordic operations....Ē

Actually Thomas Cook Airline Scandinavia (TCAS) is Danish
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Old 21st Sep 2019, 21:45
  #997 (permalink)  
 
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Originally Posted by jaja View Post
diffident said :
ď....The Nordics (Norway and Sweden) have not mounted a rescue for the Nordic operations....Ē

Actually Thomas Cook Airline Scandinavia (TCAS) is Danish
with all due respect, the Danes havenít mounted a rescue either
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Old 21st Sep 2019, 21:45
  #998 (permalink)  
 
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TC website is down.
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Old 21st Sep 2019, 22:23
  #999 (permalink)  
 
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Looks like a Tunisian hotel has locked in all Thomas Cook guests over unpaid bills.
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Old 21st Sep 2019, 22:24
  #1000 (permalink)  
 
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Originally Posted by nowhereasfiled View Post
Looks like a Tunisian hotel has locked in all Thomas Cook guests over unpaid bills.
go to bed!
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