Thomas Cook-2
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.
What comes around again eh?
Max and Fritz
Viva Espana
What next - do we see a rebirth of Caledonian here in the UK?
Max and Fritz
Viva Espana
What next - do we see a rebirth of Caledonian here in the UK?
Join Date: Oct 2006
Location: Manchester
Posts: 206
Likes: 0
Received 0 Likes
on
0 Posts
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 ?
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 ?
Join Date: Aug 2014
Location: BHX
Posts: 305
Likes: 0
Received 0 Likes
on
0 Posts
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.
Join Date: Aug 2007
Location: West Yorkshire
Posts: 635
Likes: 0
Received 0 Likes
on
0 Posts
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.
I Have Control
Join Date: May 2004
Location: North-West England
Posts: 49
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
Join Date: Jul 2006
Location: STANSTED & MANCHESTER
Posts: 1,893
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
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.
Join Date: Aug 2007
Location: Newcastle upon Tyne
Posts: 96
Likes: 0
Received 0 Likes
on
0 Posts
The share price has dropped to just 10p a share, I’m 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 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 it’s quite common in the private equity world.
Its if the debt holders don’t get their money back then it’s 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.
Join Date: Mar 2013
Location: wales
Age: 62
Posts: 74
Likes: 0
Received 0 Likes
on
0 Posts
I bought some at 50p thinking they wouldn’t 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 it’s quite common in the private equity world.
Its if the debt holders don’t get their money back then it’s 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.
Join Date: Aug 2014
Location: BHX
Posts: 305
Likes: 0
Received 0 Likes
on
0 Posts
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
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.
Join Date: Mar 2011
Location: East Midlands
Posts: 538
Likes: 0
Received 0 Likes
on
0 Posts
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
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
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
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
Join Date: Aug 2016
Location: Oban, Scotland
Posts: 1,844
Likes: 0
Received 0 Likes
on
0 Posts
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.
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 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.
Join Date: Apr 2015
Location: UK
Posts: 543
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
Join Date: Aug 2014
Location: BHX
Posts: 305
Likes: 0
Received 0 Likes
on
0 Posts
The media have now scented blood , This reminds me of the run up to the collapse of Monarch , Same negative doom laden reporting frenzy spooking the public with the same inevitable results
https://www.thesun.co.uk/travel/9102...value-plummet/
https://www.thesun.co.uk/travel/9102...value-plummet/
Last edited by Brigantee; 18th May 2019 at 23:52.