The share price has fallen 94 % in the last 12 months. The entire company (travel agencies, airlines, etc) is now worth less than the list price of a single A321.

Update - The Times reports that the CAA is making contingency plans for the possible collapse of Thomas Cook. While the airline can legally operate independently of the travel agency and thus the airline has no formal need of an ATOL, the lack of an ATOL would force the UK travel agency business into closure and mean a significant decline in the number of pax for the airline - airline ops would likely be deeply loss making without the revenue from the ATOL-based travel agency. The ATOL is reported to be due to expire on Tuesday 01 October - not sure if that's Tuesday morning or Tuesday evening. Talks have reportedly been held with Alix Partners about a possible bankruptcy

This is the time of year when leisure-based travel agencies and airlines find cashflow becoming very tough - summer has positive cashflow, but the period from October to April does not
I really hope that Thomas Cook pull through - it is very sad to see such a proud name going through such problems

Disclaimer - I have a flight booked on my debit card with Thomas Cook,so if they go bust I lose out financially

As I repeated above, Thomas Cook isn’t a travel agent, its a tour operator (as stated correctly in The Times article). The difference being that a Tour Operator acts as ‘principal’ on a booking (i.e. they take all the responsibility), and an agent is the reseller of a tour operator. Yes, I do know that Thomas Cook Retail do resell other tour operators, so they do act as an agent in part.

The important part is the ATOL renewal, just as it was with Monarch and we’re at the same time of year when XL went down as well I think about 10 years ago. Just like Monarch, even if the airline does have the option of life independent it could just fall down like a pack of cards. Without the ATOL its likely that everything will go down, although the airline is more attractive as a whole (especially in Germany) than Monarch was.

In other news G-TCDS has rolled out the paint shop in SNN

https://www.bbc.co.uk/news/business-49707230

The situation has reached the business pages of the BBC website.

Username - are you the chap who was with MON/OM then went to Primera Air, then flies now with TCK? If so, then gosh I really feel for you old chap . Hope all turns out well for you etc

Technically its the ‘Thomas Cook Group’ which is in trouble, which includes the airline, tour operation and retail stores. It’s irrelevant that one piece of that is profitable, unless its sold.

Always happens end of summer. Good luck TC

Not really, BBC has reported same, and the Broad-sheets too in past 48 hours - They are only commenting on what the CAA are looking at doing - Which is the setting up and preparing to charter aircraft/ACMI airlines to be put on standby for repatriation flights should the worst happen.

Of course the punters will be put off making future bookings but the immediate crisis (renew the annual ATOL bond) is what now needs to be addressed in order to restore those bookings - Hope all goes well for all concerned.

The Sun ripped the article from ThisIsMoney written 6 hours before. It's almost plagiarism.

For once the sun is not printing garbage, especially that they have postponed Wednesday's vote on the take over deal.
A statement from Cook said: As part of the process to finalise the full commercial terms between Thomas Cook Group’s creditors and stakeholders, the Scheme Meetings and the Schemes Sanction Hearing relating to Thomas Cook Group’s proposed recapitalisation will take place on the 27 and 30 September respectively.
This now means that it is going to go down to the wire, with the CAA.

People in denial surrounding the realities like yourself said exactly the same about Monarch.