Thomas Cook to Buy Citybird
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Thomas Cook to Buy Citybird
Story from e-tid
Reports from Belgium suggest that Thomas Cook is ready to pay BFr400m (£6m) for City Bird, the Brussels-based airline which is in creditor protection.
City Bird, listed on the European Nasdaq, operates charter flights for Thomas Cook’s Neckermann, Sunsnacks, Pegase and All Seasons brands.
Creditor protection, granted to City Bird by the Brussels commercial court, is ‘the most appropriate instrument for companies temporarily out of cash resources.’ The concordat allows the company to operate while putting together a rescue plan.
The carrier says it will present its plan by the end of September. In the meantime Thomas Cook has agreed to cover any losses incurred by City Bird during the creditor protection period. This figure is capped.
Le Soir says that Thomas Cook is not interested in City Bird’s freight operations nor its long haul routes.
City Bird has a fleet of 12 planes, including six new Boeing 737-800 Next Generation which were delivered in May.
Thomas Cook is the name by which German tourism giant C&N Touristic is now known.
Reports from Belgium suggest that Thomas Cook is ready to pay BFr400m (£6m) for City Bird, the Brussels-based airline which is in creditor protection.
City Bird, listed on the European Nasdaq, operates charter flights for Thomas Cook’s Neckermann, Sunsnacks, Pegase and All Seasons brands.
Creditor protection, granted to City Bird by the Brussels commercial court, is ‘the most appropriate instrument for companies temporarily out of cash resources.’ The concordat allows the company to operate while putting together a rescue plan.
The carrier says it will present its plan by the end of September. In the meantime Thomas Cook has agreed to cover any losses incurred by City Bird during the creditor protection period. This figure is capped.
Le Soir says that Thomas Cook is not interested in City Bird’s freight operations nor its long haul routes.
City Bird has a fleet of 12 planes, including six new Boeing 737-800 Next Generation which were delivered in May.
Thomas Cook is the name by which German tourism giant C&N Touristic is now known.
Join Date: Aug 2001
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I guess That's a good way for Citybird to get a good cashflow in order to survive.My only concern is about those fellow pilots flying the B767 and the A300....What's going to happen to them? 
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All gone with the wind, my friend !
I believe their chief pilot now has an ear the size of Texas 'cause he spent too much time on the phone trying to find a job for them.
BTW, at some time I think there were something like 16 flight crews for one single B767. (?)
I believe their chief pilot now has an ear the size of Texas 'cause he spent too much time on the phone trying to find a job for them.
BTW, at some time I think there were something like 16 flight crews for one single B767. (?)
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I understand that at least six of Citybird's pilots, Captains and First officers, will receive job offers from Virgin Express in the next couple of days. Good news for them but very bad for those VEX F/Os who were told to expect their commands this year.
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How many pilots on the 737-800 fleet? And of those, how many are expected to stay?
Getting a type of the 737NG sounds like a great career preserver - many are flying in Europe.
Jumping to Virgin Express sounds like jumping from one battered ship to another...
Best of luck to all involved!
Getting a type of the 737NG sounds like a great career preserver - many are flying in Europe.
Jumping to Virgin Express sounds like jumping from one battered ship to another...
Best of luck to all involved!
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Lavdumper,
Looks like most B737 pilots are there to stay. Social plan (which has been accepted by the employees today) calls for 200 out of 600 staff to be dismissed, most of them A300 and B767 pilots and cabin attendants, but also administrative staff. Most B737 will stay (except for one -400 leased from VEX and a the only -300) and one or two more 800s should arrive in the next few months.
Anyways, looks like it's not over yet for CTB although it certainly will be much less exciting without the African and trans Atlantic routes.
Looks like most B737 pilots are there to stay. Social plan (which has been accepted by the employees today) calls for 200 out of 600 staff to be dismissed, most of them A300 and B767 pilots and cabin attendants, but also administrative staff. Most B737 will stay (except for one -400 leased from VEX and a the only -300) and one or two more 800s should arrive in the next few months.
Anyways, looks like it's not over yet for CTB although it certainly will be much less exciting without the African and trans Atlantic routes.
