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Thomas Cook Gone

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Thomas Cook Gone

Old 23rd Sep 2019, 02:29
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Thomas Cook Gone

At 02.05 am on 23rd September 2018 Thomas Cook one of the oldest travel firms went into administration, at the time I was watching one if its final flights descending into Manchester. This is a very sad day.. Besides the thousands of passengers affected., there are 22,000 jobs on the line worldwide.

Before anybody says topic is covered elsewhere TCX for example, its too important for that..
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Old 23rd Sep 2019, 03:08
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More here: Thomas Cook-2
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Old 23rd Sep 2019, 03:50
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Old 23rd Sep 2019, 04:59
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This is very sad news. Yesterday over France we flew past one of their aircraft, ironically it was in a hybrid Monarch/Thomas Cook colour scheme. Good luck to all the staff.
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Old 23rd Sep 2019, 05:33
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Will any one airline benefit from filling the void left by TC’s demise?

BBC report that 40 aircraft will be chartered to move 150,000 uk citizens back to Brexit land. Would TC aircraft be available for charter to fullfill this role?

Mjb
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Old 23rd Sep 2019, 05:44
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No, as they will have been impounded by airports due to unpaid debts.
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Old 23rd Sep 2019, 06:59
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I wonder if Virgin will grab pilots like they did with Monarch. A friend of mine was back in the air within weeks, and much happier with his lot, so it would appear.
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Old 23rd Sep 2019, 07:14
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Damn shame.
Who would work in this precarious business these days ?

i certainly wouldn’t do it all again.
.

Best of luck to the staff in finding something else soon .
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Old 23rd Sep 2019, 07:25
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So are there any companies that might snap up some of the aircraft and pilots?
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Old 23rd Sep 2019, 07:31
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Originally Posted by Claude1 View Post
So are there any companies that might snap up some of the aircraft and pilots?
These days??? I doubt it. Just a few.
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Old 23rd Sep 2019, 07:41
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They are more likely to grab the much more valuable airport slots
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Old 23rd Sep 2019, 07:50
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You can be an airline, a travel agency or a hotel. Not all three. McKinseys have been banging on about diversification’s perils since at least 1990 according to my memory.
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Old 23rd Sep 2019, 08:07
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Jet2 alongside EasyJet with Ryan would appear benefit from the lack of a competitive airline. I sympathise with all the staff and hope that this employer loss is only a temporary situation for them. Our industry is not immune from company failures, not the first and certainly not the last we will endure. Good luck to all.
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Old 23rd Sep 2019, 08:12
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Writing on a Wall a long time ago

My ex-husband is a pilot with them - they used to go to Flight Ops meetings once a year and when the pilots were expressing concerns about easyJet taking more and more market share and moving into holidays/package market the management were just saying they are not a competitor and they are not worried - just had their heads in the sand. This was 10 years ago - failure to recognise the market place and to develop niche options which low cost wouldn't move into.
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Old 23rd Sep 2019, 08:15
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The days of package tour operators and travel agents are numbered.

It’s a lot cheaper for most people to book their flights and hotels online.
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Old 23rd Sep 2019, 08:16
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Originally Posted by Mike Flynn View Post
The days of package tour operators and travel agents are numbered.

It’s a lot cheaper for most people to book their flights and hotels online.
Except, according to a news report this morning, that by doing so you have less legal protection when things go wrong, than if you booked a complete package.
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Old 23rd Sep 2019, 08:19
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Originally Posted by Claude1 View Post
Except, according to a news report this morning, that by doing so you have less legal protection when things go wrong, than if you booked a complete package.
Book with a credit card and you are protected over £100 by the consumer credit regulations.
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Old 23rd Sep 2019, 08:24
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Originally Posted by Mike Flynn View Post


Book with a credit card and you are protected over £100 by the consumer credit regulations.
You’ll get a refund but that won’t get you home if you have to buy a last minute ticket from wherever.
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Old 23rd Sep 2019, 08:28
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Originally Posted by Mike Flynn View Post
The days of package tour operators and travel agents are numbered.

It’s a lot cheaper for most people to book their flights and hotels online.
However, the flights were filled, the charges mid-market, they may not have made much but at least doing this you don't lose much. The fleet's all leased as I understand it anyway. They were even chartering capacity in.

The hotels were basically a booking agency. Again, maybe don't make much now but can just break even.

So why the huge debts. It wasn't going out in current expenditure and income. It was from the huge loans taken out years ago to buy up all those other companies, the MyTravels, the Condors, etc. That had to be paid back, with interest, and it couldn't be. That's where the money is due. And those are the financing deals that have been sold on and on in the finance world. And where the management has all their attention concentrated.
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Old 23rd Sep 2019, 08:41
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Originally Posted by back to Boeing View Post
You’ll get a refund but that won’t get you home if you have to buy a last minute ticket from wherever.
EU regulations require tour operators to participate in a kind of rescue scheme that will pay for homebound flights in cases like this. Details are left to national legislation.
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