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TUI Airways

Old 16th Mar 2020, 17:57
  #1441 (permalink)  
 
Join Date: Jul 2003
Location: Under the flight path
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Does one of the covenants make life more difficult if the share price is below (for example) 250 pence ?
Sorry, I can't answer that. I don't know whether banking covenants are in the public domain.

Does one of the covenants make life more difficult if the share price is below (for example) 250 pence ?
It is quoted in both London and Frankfurt. Not sure if that makes it British or German.
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Old 16th Mar 2020, 18:01
  #1442 (permalink)  
 
Join Date: Sep 2007
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In the past month TUI raised about £600 million pounds from selling its Hapag Lloyd cruise line into a joint venture. This was to be used in transforming various aspects of the business but obviously it could be put to other uses if needed. Also being a German company I suspect they will probably find it easier to get help from the German government than a UK company trying to get help from the UK government. Just look at Condor.
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Old 16th Mar 2020, 21:38
  #1443 (permalink)  
 
Join Date: Oct 2004
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Originally Posted by double-oscar View Post
In the past month TUI raised about £600 million pounds from selling its Hapag Lloyd cruise line into a joint venture. This was to be used in transforming various aspects of the business but obviously it could be put to other uses if needed. Also being a German company I suspect they will probably find it easier to get help from the German government than a UK company trying to get help from the UK government. Just look at Condor.
Indeed, and just look at Condor. The UK government pretended they couldn't give financial help to Flybe, and will doubtless claim the same for other British airlines, blaming "EU regulations" yet other EU states have no issues in assisting their industries. It's just that when it comes down to it the UK government cares only about one sector - financial services.
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Old 16th Mar 2020, 21:47
  #1444 (permalink)  
 
Join Date: Sep 2008
Location: Blighty
Posts: 4,197
Condor at an operating level made money. Thomas Cook UK did not.
When a company wants to borrow money, the first question is - do I think you will pay me back ? Thomas Cook Air had lovely people at airports and in the air - but financially was a zombie. If you want to blame somebody, Manny Fontenla-Novoa who was CEO until 2011 would be a good candidate - he loaded the company up with debt. The EU had nothing to do with it, it was just a business that was failing and the cat had run out of lives

Last edited by davidjohnson6; 16th Mar 2020 at 22:33.
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Old 16th Mar 2020, 22:23
  #1445 (permalink)  
 
Join Date: Jul 2002
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Originally Posted by ATNotts View Post
Indeed, and just look at Condor. The UK government pretended they couldn't give financial help to Flybe, and will doubtless claim the same for other British airlines, blaming "EU regulations" yet other EU states have no issues in assisting their industries. It's just that when it comes down to it the UK government cares only about one sector - financial services.
Many EU nations ignore EU law while the UK obeys it.
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Old 16th Mar 2020, 22:37
  #1446 (permalink)  
 
Join Date: Apr 2003
Location: Northumberland
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Many EU nations ignore EU law while the UK obeys it.
Yawn - let's get back on topic.
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Old 17th Mar 2020, 05:26
  #1447 (permalink)  
 
Join Date: Jul 2002
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It was on topic, you just didn’t like the answer.
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Old 17th Mar 2020, 08:57
  #1448 (permalink)  
 
Join Date: Oct 2004
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Originally Posted by LTNman View Post
Many EU nations ignore EU law while the UK obeys it.
The difference actually was more nuanced than that. The UK followed the rules to the letter, other nations take a more pragmatic interpretation. If they broke the rules they can, and often are sanctioned.
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Old 19th Mar 2020, 15:22
  #1449 (permalink)  
 
Join Date: Nov 2003
Location: Midlands
Posts: 156
I note with interest that TUi are sending emails and then calling all customers booked on holidays and cruises departing upto 30th June 2020 to give them the option of moving their holiday to a later date free of charge.

I have a holiday to Cyprus on 29th June and the advisor I spoke to said most people for June were moving to later 2020 or onto 2021, I wonder with the current doubt over when travel advice will be lifted whether Tui are looking at not operating any holidays until July which as well will help with the Max issues as its another few months less they have to pay leasing costs for alternative aircraft.
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Old 19th Mar 2020, 16:52
  #1450 (permalink)  
 
Join Date: May 2016
Location: The EU
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Seems sensible, and realistic. Less chance of having to plan flights and pre pay for hotel rooms only to cancel holidays at short notice, fills aircraft and rooms after “normality” has resumed and keeps the money in the company.
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Old 19th Mar 2020, 17:17
  #1451 (permalink)  
 
Join Date: Dec 2000
Location: LGW/UK
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Entire fleet to be grounded within 7 days, Most staff on a 50% pay cut
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Old 19th Mar 2020, 17:22
  #1452 (permalink)  
 
Join Date: Jun 2017
Location: UK
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An excellent result from our management and union reps - working together to avoid redundancies
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Old 19th Mar 2020, 17:52
  #1453 (permalink)  
 
Join Date: Sep 2005
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An excellent result from our management and union reps - working together to avoid redundancies

Hear hear!
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Old 19th Mar 2020, 19:21
  #1454 (permalink)  
 
Join Date: Feb 2008
Location: LIVERPOOL
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Originally Posted by boeing_eng View Post
An excellent result from our management and union reps - working together to avoid redundancies

Hear hear!
unless you are a re-entrant and have had your contract terminated 😩😩
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Old 19th Mar 2020, 22:46
  #1455 (permalink)  
 
Join Date: Nov 2003
Location: Midlands
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I have this evening had more evidence that TUI are looking at not operating until 01/07 a hotelier I have known for years has been asked about not starting the season until start of July this year
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Old 19th Mar 2020, 23:10
  #1456 (permalink)  
 
Join Date: Apr 2015
Location: UK
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Originally Posted by 737James View Post
I have this evening had more evidence that TUI are looking at not operating until 01/07 a hotelier I have known for years has been asked about not starting the season until start of July this year
That sure is a long time but based on the current situation it really isn't too surprising. If they put a solid plan in place to cease operations until July and are able to sustain themselves for that long, it may save them a lot of uncertainty in the coming weeks and months, where (if travel is allowed/feasible) demand is likely to be near-zero and there will be the risk of sudden shutdowns etc.
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Old 19th Mar 2020, 23:30
  #1457 (permalink)  
 
Join Date: Apr 2015
Location: UK
Posts: 481
Anyone know why TUI have been operating some of their LGW-bound flights into STN? It doesn't seem to be for storage reasons (yet) as they are being used the following day. Two 757s went into STN on Tuesday night, one flew empty from STN to collect pax and returned to LGW but the other positioned STN-MAN on Wednesday morning before operating a rescue flight from there. Tonight's AGA-LGW and SID-LGW are both routing to STN according to FR24.
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Old 19th Mar 2020, 23:45
  #1458 (permalink)  
 
Join Date: Nov 2002
Location: Brighton uk
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Anything could happen at the moment that nobody can explain , or really cares about

Strange times , bigger things to worry about to
be honest
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Old 19th Mar 2020, 23:49
  #1459 (permalink)  
 
Join Date: Jul 2003
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Originally Posted by ROC10 View Post
Anyone know why TUI have been operating some of their LGW-bound flights into STN? It doesn't seem to be for storage reasons (yet) as they are being used the following day. Two 757s went into STN on Tuesday night, one flew empty from STN to collect pax and returned to LGW but the other positioned STN-MAN on Wednesday morning before operating a rescue flight from there. Tonight's AGA-LGW and SID-LGW are both routing to STN according to FR24.
Probably a combination of where aircraft/crew need to be for the next days flying. Pax are getting back to the UK so doubt they are that bothered given the current situation.
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Old 19th Mar 2020, 23:59
  #1460 (permalink)  
 
Join Date: Sep 2005
Location: Hyperspace
Posts: 646
ROC10....Give it a rest! Your obsession with TUI delays and unscheduled movements needs to take a back seat (and soon will anyway!)
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