Thomas Cook-2
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Join Date: Aug 2004
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Depends if they booked through a third party who could have booked it with an ATOL. If they have, then the CAA will step in, otherwise there is no guarantee.
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Alba Gu Brath
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‘Significantly diluted’ is probably a better bet than totally worthless if they don’t vote for it. What are the shareholders hoping for if they vote against? It is pretty much a guarantee of 0 return on their investment. ‘The value of shares may go down as well as up.’ Seems the banks either don’t read or don’t like the small print.
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‘Significantly diluted’ is probably a better bet than totally worthless if they don’t vote for it. What are the shareholders hoping for if they vote against? It is pretty much a guarantee of 0 return on their investment. ‘The value of shares may go down as well as up.’ Seems the banks either don’t read or don’t like the small print.
Join Date: Feb 2019
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Great Dane E195, ASL Airlines France 737, Omni Air 767 and an Air Transat A310 also pencilled in for long stays at LGW.
If it’s for what we think it is, seems a bit overkill.
If it’s for what we think it is, seems a bit overkill.
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Join Date: Jan 2002
Location: North West
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Join Date: Dec 2014
Location: Birmingham UK
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Join Date: Aug 2014
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Not really. In any case should the worst happen it’s likely some pax heading to BHX, STN etc would get funnelled through LGW & MAN and flights merged as happened with Monarch. So the volume of aircraft needed and their size would look higher than might be expected, whereas other bases might have nothing.
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I know when Monarch went they were leasing SmartLynx A320 YL-LCP at the time, and this aircraft did operate some of the repatriation flights. Although that might have been their own crew
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To further add to Albert Hall 's well made points there Doc Q , even if the Government wanted to (and they don't), European Union state aid rules won't allow it. In an effort to stop the usual "yeh, buts" that I normally get when discussing businesses going bust and European state aid rules, the biggest question is - what about the banks?
State aid rules state explicitly: "A government can own a company under state aid rules but it is not allowed to keep it going if it would otherwise fail." In other words, the Government can't just go around buying up bankrupt businesses in the national interest. Thomas Cook has been in trouble for some time, some say possibly as far back as the MyTravel tie-up.
The banks were bailed out because the business models were proven solid (the banks were expected to rapidly return to profitability - and did), but had become under substantial strain due to market volatility. The same banks are back to returning billions in profit for shareholders today with little in the way of change regarding how banks operate, other than the rules surrounding protecting retail banking from investment banking.
Thomas Cook is not in trouble because of external forces. It is about to become the victim of poor business management.
State aid rules state explicitly: "A government can own a company under state aid rules but it is not allowed to keep it going if it would otherwise fail." In other words, the Government can't just go around buying up bankrupt businesses in the national interest. Thomas Cook has been in trouble for some time, some say possibly as far back as the MyTravel tie-up.
The banks were bailed out because the business models were proven solid (the banks were expected to rapidly return to profitability - and did), but had become under substantial strain due to market volatility. The same banks are back to returning billions in profit for shareholders today with little in the way of change regarding how banks operate, other than the rules surrounding protecting retail banking from investment banking.
Thomas Cook is not in trouble because of external forces. It is about to become the victim of poor business management.
If you were investing into Thomas Cook you'd have to ask where do they add value and what's their point of difference?? As far as I can see Jet2 has wiped their eye and they no longer seem relevant.
TC asks UK Govt for a bailout
https://www.bbc.co.uk/news/business-49761464
https://www.bbc.co.uk/news/business-49761464
Join Date: Aug 2014
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TC asks UK Govt for a bailout
https://www.bbc.co.uk/news/business-49761464
https://www.bbc.co.uk/news/business-49761464
I think a poster Doc Q who was dismissed as being out of touch with reality suggested this would end in a government bail out perhaps he wasn’t quite so deluded ?
I have three questions which I hope someone can help with (if you don't know, please don't guess)
What has caused TC to need cash by this weekend (22 September), instead of by the CAA ATOL deadline of 1st October ?
What date are the chartered aircraft from these airlines, which visit Gatwick rarely, due to start arriving ?
Can the start date of a repatriation programme be brought forward reasonably effectively (cost being a lesser concern than ensuring aircraft/crew availability) ?
What has caused TC to need cash by this weekend (22 September), instead of by the CAA ATOL deadline of 1st October ?
What date are the chartered aircraft from these airlines, which visit Gatwick rarely, due to start arriving ?
Can the start date of a repatriation programme be brought forward reasonably effectively (cost being a lesser concern than ensuring aircraft/crew availability) ?
Asking the government now seems a seriously last ditch desperate attempt and their only hope. I don’t think for one second the government would come to the rescue. TC is beyond help now and drowning in debt, it would be a waste of money sad to say.