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

Thomas Cook-2

Old 21st Sep 2019, 15:54
  #941 (permalink)  
 
Join Date: Jun 2005
Location: London, UK
Posts: 197
Likes: 0
Received 0 Likes on 0 Posts
My understanding is that the TCX pension scheme (for pilots) is a defined contribution (DC) arrangement and as such the funds are usually held in trust for the individual i.e. they would be unaffected by any insolvency of the employer (albeit any future employer contributions would cease). Future benefits would be paid as if you had left the company at the date of insolvency.
Rushed Approach is offline  
Old 21st Sep 2019, 16:08
  #942 (permalink)  
 
Join Date: May 2006
Location: FL510
Posts: 910
Received 0 Likes on 0 Posts
Save Thomas Cook petition:

http://chng.it/wCtT5YLJrV
safelife is offline  
Old 21st Sep 2019, 16:11
  #943 (permalink)  
 
Join Date: Feb 2019
Location: london
Posts: 133
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by safelife
Save Thomas Cook petition:

http://chng.it/wCtT5YLJrV

People must seriously have their head in the sand if they think a petition will work.
Also seen a go fund me trying to raise £200million, a nice gesture, but in reality it’s ludicrous.
nowhereasfiled is offline  
Old 21st Sep 2019, 16:13
  #944 (permalink)  
 
Join Date: May 2009
Location: somewhere in the middle
Posts: 337
Likes: 0
Received 1 Like on 1 Post
All the following supposed the worst is going to happen. I truly, honestly hope it doesn’t. But this is advice I wish I’d had before monarch went bust, so it’s here in case anyone wants it.

There was advice further up the thread but it bares repeating; get copies of everything. Training records, payslips, P60s. If the doors close, there’s no obligation (and no cash) to keep IT servers running, and these documents are necessary for any claim you may make, and certainly many companies in the ME and further seem to like training records.

Create a “Government Gateway” account. It makes the various claims easier.

If you you can get hold of a post holder, it may be worth getting them to sign to confirm your logbook hours are valid.

If you are friends with any TREs, it may be possible for them to sort out renewals using any sim slots TC have paid for; this was something the Mon training department put together and was very useful for guys like me who were a few months away from expiring.

Start / join a whatsapp group for job postings, hints & tips.

Keeping your rating going is almost as important as keeping a home life going. Almost.


Lastly, as the trauma doctors say, “this is going to hurt” It is going to be one of the most painful, awful, stressful experiences of your life. The one key bit of advice to take away is build up a support network. Friends, colleagues, family - and use them! Talk to them, go to the pub, let them stand you a round. You have nothing to be ashamed of. This isn’t your fault. You will find a job (there’s a reason TC paid you for so long, and it isn’t your good looks). You’ll look back on this, if not with fondness, but maybe a wry smile. You took the very worst life could throw at you, and got through it, battered, bruised - but intact.

“If you’re going through Hell: Keep going”.
thetimesreader84 is offline  
Old 21st Sep 2019, 16:17
  #945 (permalink)  
 
Join Date: Mar 2018
Location: The Midlands
Age: 39
Posts: 189
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by sixchannel
Having been on the Pax end of the Monarch collapse (in FUE at the time) I wonder if tonight will bring another 'wham, bam, thank you m'am' and as soon as tonights last aircraft has landed in the UK in the early hours of Sunday, that'll be it.
​​​So sad if so, for all those working for the TC companies.
Said Pax in resort will likely be taken care of.
My very well educated guess (having been in and around these events for nearly 20 years), would be that if the plug is to be pulled - and I fully expect it will, sadly - it will be after the last wheel's down before midnight tomorrow (Sunday). Any aircraft still in the air at that point will continue as normal, but nothing will operate on Monday morning. The announcement will come at 23:00 BST in time for the Asian markets to open, which also has trading in the bonds, plus the conglomerate trading for the proposed bidder.
diffident is offline  
Old 21st Sep 2019, 16:19
  #946 (permalink)  
 
Join Date: Sep 2009
Location: England
Posts: 1,008
Likes: 0
Received 0 Likes on 0 Posts
Can anybody advise when the 'deadline' is? I know it's posted here somewhere but I can't seem to find it.
750XL is offline  
Old 21st Sep 2019, 16:26
  #947 (permalink)  
 
Join Date: Jul 2018
Location: Exmouth
Posts: 51
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by 750XL
Can anybody advise when the 'deadline' is? I know it's posted here somewhere but I can't seem to find it.

It appears From press reports talks are still going on with the government and possible investors so I’d say there’s hope for a solution
Doc Q is offline  
Old 21st Sep 2019, 16:29
  #948 (permalink)  
 
Join Date: Sep 2009
Location: England
Posts: 1,008
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by Doc Q



It appears From press reports talks are still going on with the government and possible investors so I’d say there’s hope for a solution
We can only hope, not a nice situation to be in. Seem to recall 2nd October being thrown around as a date, and IIRC it was around that time Monarch went. Can anyone confirm?

Thanks
750XL is offline  
Old 21st Sep 2019, 16:29
  #949 (permalink)  
 
Join Date: Oct 2017
Location: London
Posts: 292
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by diffident
My very well educated guess (having been in and around these events for nearly 20 years), would be that if the plug is to be pulled - and I fully expect it will, sadly - it will be after the last wheel's down before midnight tomorrow (Sunday). Any aircraft still in the air at that point will continue as normal, but nothing will operate on Monday morning. The announcement will come at 23:00 BST in time for the Asian markets to open, which also has trading in the bonds, plus the conglomerate trading for the proposed bidder.
Well, to counter your prediction, I’m the 4R on MT326, boarding starting soon. Not back until 04:00 local. No doomsday cancelled night flights Monarch scenario tonight. Looks like we survive to see another day.
USERNAME_ is offline  
Old 21st Sep 2019, 16:34
  #950 (permalink)  
 
Join Date: Mar 2018
Location: The Midlands
Age: 39
Posts: 189
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by USERNAME_


Well, to counter your prediction, I’m the 4R on MT326, boarding starting soon. Not back until 04:00 local. No doomsday cancelled night flights Monarch scenario tonight. Looks like we survive to see another day.
Note, I said Sunday. That's tomorrow night, into Monday, not tonight.
diffident is offline  
Old 21st Sep 2019, 16:41
  #951 (permalink)  
 
Join Date: Oct 2017
Location: London
Posts: 292
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by diffident
Note, I said Sunday. That's tomorrow night, into Monday, not tonight.
My apologies! Must admit I only really skimmed over your post before replying, Fingers crossed it doesn’t come to that, on a night Dalaman tomorrow reporting at 20:15 and I will be there regardless.
USERNAME_ is offline  
Old 21st Sep 2019, 16:42
  #952 (permalink)  
 
Join Date: Jul 2018
Location: Exmouth
Posts: 51
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by diffident
Note, I said Sunday. That's tomorrow night, into Monday, not tonight.
Reading the press there seems to be a fair bit of optimism that a solution will be found and they will survive
Doc Q is offline  
Old 21st Sep 2019, 16:58
  #953 (permalink)  
 
Join Date: Mar 2006
Location: Earth
Posts: 309
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by Doc Q

Reading the press there seems to be a fair bit of optimism that a solution will be found and they will survive
Care to share your news source?
CEJM is offline  
Old 21st Sep 2019, 16:59
  #954 (permalink)  
 
Join Date: Mar 2008
Location: LV
Posts: 2,296
Likes: 0
Received 0 Likes on 0 Posts
TCX AYT-GLA Cancelled
CabinCrewe is offline  
Old 21st Sep 2019, 17:04
  #955 (permalink)  
 
Join Date: Apr 2009
Location: London
Posts: 745
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by CabinCrewe
Cancelled due to a technical fault.
fjencl is offline  
Old 21st Sep 2019, 17:05
  #956 (permalink)  
 
Join Date: Sep 2009
Location: England
Posts: 1,008
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by CabinCrewe
Tech flight cancellation. Happens hundreds of times a day around the globe. Move on.
750XL is offline  
Old 21st Sep 2019, 17:09
  #957 (permalink)  
 
Join Date: Jun 2005
Location: London, UK
Posts: 197
Likes: 0
Received 0 Likes on 0 Posts
I think Diffident was suggesting that midnight on Sunday (rather than midnight tonight) was when s/he thought operations might cease.

Mon went down very early on a Monday morning (2 Oct 17) when all a/c were on the ground after the previous night flights, albeit a week later to where we are now in annual calendar terms, and after employees had been paid for the full month of September (on 25 Sep as was usual). Pay day may be a consideration for TCX too - in any insolvency date discussion one would hope that the directors would try to push for at least salaries for the previous month to be paid as usual if at all possible, to avoid statutory caps being applied to any pay owed to employees for the time worked before the insolvency.
Rushed Approach is offline  
Old 21st Sep 2019, 17:11
  #958 (permalink)  
 
Join Date: Apr 2011
Location: South East
Posts: 52
Likes: 0
Received 0 Likes on 0 Posts
Angel

Reading the article on the BBC, when a customer called TC to ask if they had to pay the remaining payments of their holiday with the future of the company uncertain - caller claims the TC call centre operator apparently laughed and just hangs up.

It seems some staff are probably not expecting to keep their jobs, and I have to say things are indeed not looking so good right now.........

Fingers crossed for all involved.
newfoundglory is offline  
Old 21st Sep 2019, 17:16
  #959 (permalink)  
 
Join Date: Feb 2008
Location: LIVERPOOL
Age: 59
Posts: 145
Likes: 0
Received 0 Likes on 0 Posts
Sky news showing stock video off a TCX 321 taxiing in the hybrid TCX/MON colour scheme....ohh the irony!!!!....good luck to all my ex Monarch crew mates and TCX crew 🧡🖤,💜💛
pabloc is offline  
Old 21st Sep 2019, 17:49
  #960 (permalink)  
 
Join Date: Jul 2001
Location: London
Posts: 90
Likes: 0
Received 0 Likes on 0 Posts
Everyone is missing the complexities of the issues here. It’s the PLC that has the issues, the PLC has a number of subsidiaries in a number of countries.

Thomas Cook Airlines in the UK undertake the flight planning for Condor, Condor look after the ground handling for the group. I have no idea what other services are shared. The German government have a significant input into how this will pan out and they have a different approach to the UK Government but they need Thomas Cook UK to produce the flight plans. Thomas Cook were asking for a government bailout .... but no one has said which government.

STN Ramp Rat is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.