Thomas Cook-2
Join Date: Mar 2006
Location: Earth
Posts: 309
Likes: 0
Received 0 Likes
on
0 Posts
Plane.Silly, you can’t really use the Monarch repatriation cost and use these as a baseline for Thomas Cook.
The Monarch passengers were all concentrated in Europe were the Thomas Cook passengers are worldwide. I think that the difference in cost will be to get the longhaul passengers back. Dedicated longhaul flights will he a lot more expensive then a return flight to Faro.
Having said that, I think that £600m would be to much. On the other hand to wet lease the Hi Fly A380 won’t be cheap either.
The Monarch passengers were all concentrated in Europe were the Thomas Cook passengers are worldwide. I think that the difference in cost will be to get the longhaul passengers back. Dedicated longhaul flights will he a lot more expensive then a return flight to Faro.
Having said that, I think that £600m would be to much. On the other hand to wet lease the Hi Fly A380 won’t be cheap either.
Join Date: Oct 2017
Location: Behind a desk, dreaming of the sky
Posts: 517
Likes: 0
Received 0 Likes
on
0 Posts
Plane.Silly, you can’t really use the Monarch repatriation cost and use these as a baseline for Thomas Cook.
The Monarch passengers were all concentrated in Europe were the Thomas Cook passengers are worldwide. I think that the difference in cost will be to get the longhaul passengers back. Dedicated longhaul flights will he a lot more expensive then a return flight to Faro.
Having said that, I think that £600m would be to much. On the other hand to wet lease the Hi Fly A380 won’t be cheap either.
The Monarch passengers were all concentrated in Europe were the Thomas Cook passengers are worldwide. I think that the difference in cost will be to get the longhaul passengers back. Dedicated longhaul flights will he a lot more expensive then a return flight to Faro.
Having said that, I think that £600m would be to much. On the other hand to wet lease the Hi Fly A380 won’t be cheap either.
Join Date: Oct 2005
Location: Leeds, UK & Cork, Ireland
Posts: 1,080
Likes: 0
Received 0 Likes
on
0 Posts
Does ATOL only protect the UK operations of the Group? Is is possible to have ATOL protection if the customers are German/Scandinavian?
AFAIK it’s illegal to sell package holidays without ATOL, but could Thomas Cook get away with selling packages via their German/Scandinavian operations for ex UK departures? I suppose what I’m asking is if it’s possible for parts of the group to survive, or if one part will drag the rest with it?
AFAIK it’s illegal to sell package holidays without ATOL, but could Thomas Cook get away with selling packages via their German/Scandinavian operations for ex UK departures? I suppose what I’m asking is if it’s possible for parts of the group to survive, or if one part will drag the rest with it?
Join Date: Aug 2014
Location: BHX
Posts: 305
Likes: 0
Received 0 Likes
on
0 Posts
Does ATOL only protect the UK operations of the Group? Is is possible to have ATOL protection if the customers are German/Scandinavian?
AFAIK it’s illegal to sell package holidays without ATOL, but could Thomas Cook get away with selling packages via their German/Scandinavian operations for ex UK departures? I suppose what I’m asking is if it’s possible for parts of the group to survive, or if one part will drag the rest with it?
AFAIK it’s illegal to sell package holidays without ATOL, but could Thomas Cook get away with selling packages via their German/Scandinavian operations for ex UK departures? I suppose what I’m asking is if it’s possible for parts of the group to survive, or if one part will drag the rest with it?
Sadly i think once the inevitable happens the vortex will drag everything else with it
Rumours this side of the North Sea has it, that Thomas Cook are in the midst of attempting a fire sale to raise the 200M they need. Some say they've put TCNE (Thomas Cook Northern Europe) up for sale which, being the sole consistently profit making arm of TCX, would be somewhat akin to slaying the golden goose.
The troubles TC are facing in the UK are much more severe than in the Nordics, and it does stand to reason that TCNE may be the only long-term viable part of TC. Sure, you can pour all the money you want into the UK, but that doesn't change the fact Brexit is looming, the pound is falling, UK tourists are holding back going abroad, nor that the competition from LCC carriers is by far the toughest in the UK.
Perhaps it's simply a question of the UK consumer having had their say: They prefer utilising booking engines to construct their own flight/hotel combination, they prefer easy and Ryan getting them to warm and sandy places, and they prefer being outside the EU. Thus, putting TCUK on life-support will only delay the inevitable.
TCNE, on the other hand, is a viable and profitable business which is well worth saving.
The troubles TC are facing in the UK are much more severe than in the Nordics, and it does stand to reason that TCNE may be the only long-term viable part of TC. Sure, you can pour all the money you want into the UK, but that doesn't change the fact Brexit is looming, the pound is falling, UK tourists are holding back going abroad, nor that the competition from LCC carriers is by far the toughest in the UK.
Perhaps it's simply a question of the UK consumer having had their say: They prefer utilising booking engines to construct their own flight/hotel combination, they prefer easy and Ryan getting them to warm and sandy places, and they prefer being outside the EU. Thus, putting TCUK on life-support will only delay the inevitable.
TCNE, on the other hand, is a viable and profitable business which is well worth saving.
Join Date: Sep 2009
Location: England
Posts: 1,008
Likes: 0
Received 0 Likes
on
0 Posts
Sadly I was around for the Monarch near collapse in 2016, and their eventual collapse in 2017. As said previously, we all got emails throughout the day saying everything was normal until the wheels lifted off the ground of the last flight and the email came that Monarch was no more.
Unfortunately I’m in the same boat with TCX. Fingers crossed for us all.
Unfortunately I’m in the same boat with TCX. Fingers crossed for us all.
Join Date: Mar 2006
Location: Earth
Posts: 309
Likes: 0
Received 0 Likes
on
0 Posts
Good luck 750XL. Quite a few of our ex Monarch colleagues are in the same boat as you. I really hope it works out for everybody at TC. Just hoping that it doesn’t become a Monarch Mk2 with 2019 being what 2017 was for Monarch.
Join Date: Aug 2014
Location: BHX
Posts: 305
Likes: 0
Received 0 Likes
on
0 Posts
Sadly I was around for the Monarch near collapse in 2016, and their eventual collapse in 2017. As said previously, we all got emails throughout the day saying everything was normal until the wheels lifted off the ground of the last flight and the email came that Monarch was no more.
Unfortunately I’m in the same boat with TCX. Fingers crossed for us all.
Unfortunately I’m in the same boat with TCX. Fingers crossed for us all.
Good luck.
Join Date: Mar 2018
Location: The Midlands
Age: 39
Posts: 189
Likes: 0
Received 0 Likes
on
0 Posts
The sad fact is the last line of this letter to the Stock Exchange this morning..... Shareholders' value will be significantly diluted. If I was a shareholder, I'd be opposing that.
Join Date: Aug 2014
Location: Outer London
Age: 43
Posts: 604
Likes: 0
Received 0 Likes
on
0 Posts
Possible. However, the government are the majority shareholder in RBS, who are in turn the majority lender, along with Lloyds for TCX. Clearly I’m not as knowledgeable as some regarding this but surely the government would have significant influence with RBS who seem to be one of the main issues within this saga.
Join Date: Feb 2007
Location: Various at the moment
Posts: 1,171
Likes: 0
Received 7 Likes
on
1 Post
What happens with the Smartlynx aircraft leased to TCX? Could they fly to destinations as planned but under their own call-sign in order to repatriate pax ?
Join Date: Jul 2015
Location: Manchester, UK
Posts: 110
Likes: 0
Received 0 Likes
on
0 Posts
Pholling, sorry to pick on you. Nothing personal, I promise!
Even if TC would know at this very minute that they will no be operating on the 1st of October. They will still continue the mantra of business as normal. As mentioned previously, Monarch was sending out optimistic messages until we got the email informing us that the company was placed in administration. Even though 24 hours earlier the price of each flight was increased by £100 to discourage the public from booking flights. When I saw this price increase it was pretty clear that the company was going under, yet we still got the business as normal emails. The company would not have increased the prices if they thought that 5ere was a remote chance we would still be flying 25 hours later.
Even if TC would know at this very minute that they will no be operating on the 1st of October. They will still continue the mantra of business as normal. As mentioned previously, Monarch was sending out optimistic messages until we got the email informing us that the company was placed in administration. Even though 24 hours earlier the price of each flight was increased by £100 to discourage the public from booking flights. When I saw this price increase it was pretty clear that the company was going under, yet we still got the business as normal emails. The company would not have increased the prices if they thought that 5ere was a remote chance we would still be flying 25 hours later.
Join Date: Jul 2015
Location: Manchester, UK
Posts: 110
Likes: 0
Received 0 Likes
on
0 Posts
Are they wet leased? If so, then yes the CAA could contract them to perform repatriation flights. If they are damp leased then there would be a crewing issue.
Join Date: Jun 2014
Location: UK
Posts: 32
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Sep 2007
Location: warrington,England
Posts: 47
Likes: 0
Received 0 Likes
on
0 Posts
Hi Guys
i have friends due to return from US in the next few days on TCX, if they go under do the CAA have to rebook their flights for them? they are only on a flight-only deal
thanks
i have friends due to return from US in the next few days on TCX, if they go under do the CAA have to rebook their flights for them? they are only on a flight-only deal
thanks
Join Date: Feb 2019
Location: london
Posts: 133
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Jul 2015
Location: Manchester, UK
Posts: 110
Likes: 0
Received 0 Likes
on
0 Posts
Welcome to the wonderful world of insolvency. The sad fact is that as a shareholder you are always at the high end of the risk scale. At least only your equity is exposed. In this case either your agree to the CVA (actually in many cases you have no say) and hope that you get a penny on the pound, or the company goes into administration and likely liquidation, in which case the shareholders will get exactly 0, as the assets are less than the debts. Keep in mind that under insolvency law administrators have to basically ignore shareholders and workers, with a few exceptions their only duty is to creditors.