It's like the landlord impounding my car on lease from Avis due not paying rent?! Sounds ridiculous, but that is exactly what happened to an ex-WOW A321 in KEF.

I feel for the crews in the UK, on the other hand, it's good if you can find a constellation where more healthy parts of the company can keep running, and not end up breaking everything down. For the sake of people still working.

Profits from late 2018 onwards from the German and ~Scandinavian affiliates were never repatriated to TCG. Their books were kept artificially positive as part of the plan to hive off these "companies" on the open market. They ended up cash-rich. No such luck for Thomas Cook UK, although their senior management took very good care of themselves. By coincidence they are German and Swiss-German people, who still find themselves in highly-paid employment in Germany.

The clever liquidators have dismissed the aircraft engineers, thereby preventing routine time-dependent maintenance and upkeep on the aircraft now impounded. They will not be legal to be flown back to the leasing companies, thereby further inflating the debt due to parking charges and ultimately heavy maintenance. Debus and co didn't bother to look after this detail, nor after the well-being of the dismissed employees.

The leasing companies want their aircraft returned to them in the condition in which they were supplied to TCX UK. This apparently will require something of the order of 40 engine changes. Unbelievable.

And as for Condor, they are opening up new routes from the UK to former TCX UK destinations. Tickets are already on public sale. Problems may be anticipated as they attempt to operate said flights out of the UK.

Brexit has nothing whatever to do with this shambles. Blame avaricious management, some of whom may ultimately face criminal charges in the UK courts. In fact, if one looks at how disgracefully the German and Scandinavians have acted, one could argue that this is an example of why the UK is better out of Europe. (not my personal view, btw)

Possibly not repatriation, if that constitutes trading, but I have actually been involved in the return and repositioning of aircraft, though not as crew, and all costs, including insurance were down to the administrators, who where, for the very short period involved, the employers.

Aren't the engines usually leased separately from the airframe?

Have seen plenty of airframe lease contracts complete with engines, and also ones without. In any case, return conditions are carefully specified and usually must be as or better than delivery condition. With on-condition engines that can be a tricky affair.

The on wing engines will be in a condition that (subject to ongoing maintenance) will allow them to continue in service. The Lease Return Conditions that "Require 40 Engine Changes" are purely to meet Lease Return Conditions (LLP Stack Remaining Life, and Workshop TBO)
The aircraft are being re-possessed by Lessors, and any claims they may have will be subject to the usual process of Administration and they will receive practically nothing.
However the Lessors will have amassed Maintenance Reserves (Normal Ongoing Lease Contract contributions to future Maintenance costs at lease termination) so they will not be overly exposed financially

What routes, and where are these bookable?

Not in Thomas Cook case - they did not paid cash reserves, so Lessors are heavily exposed on engines.

I'm very surprised the administrator's of TCG cannot take legal action to recoup the unpaid debt from those subsidiaries which are still trading.
They are duty bound to obtain as much as possible for creditors. While Limited company status can attempt to ring fence exposure to claims, TCG was the parent company. Something very underhand if siphoning off money from one company into another is allowed only for 3 companies to continue trading while the debt is left with the collapsed company.

There would appear to be sufficient evidence of malpractice by the current and previous director's to warrant criminal proceedings.
And even investigation of the auditor since there must come a point at which the level of debt becomes unsustainable and a risk to the travelling consumer.

Some of the 40 required engine changes will be to reunite the correct engine serial numbers with the correct airframe serial number.

Hate to see all those jobs lost.

Care to elaborate on how they've acted "disgracefully". By keeping operating and paying staff their wages?

Jet 2 are not only operator being accused of 'cashing in' with silly prices. Probably a relatively short term issue where there's a rush of bookings far higher than normal movement at this time of year and the algorithm responds by upping the price.

Would be interesting to see what J2 would have quoted if you'd left it for a day or two.

Perhaps it is worth re-reading the post you quote from and considering how many and which elements of the company kept operating and how they became cash healthy.

Yes, Albeit they may not be fully covered, but the majority will be.

That surprises me, but if you are familiar with the specifics, and this is true, the lessors are heavily exposed.

TC Germany files
 

Yep, agree. I hate these stupid replies to supply and demand issues.. From the Daily mail ok but not from people in the industry. You should know how it works and yes if the demand doubles you will be toast pricewise..

RoyHudd :
well it looks like it is not that simple after all :
source : https://onemileatatime.com/condor-airlines-future/

I have, and it seemed to indicate the mothership (TCUK) did not wish to repatriate the funds in order to make TCNE and TCDE look good for prospective buyers. That TCUK saddled itself up with a mountain of debt when they bought the German and Nordic travel agencies, and subsequently 'fudged' the books to make them look attractive, is hardly something you can blame either the Nordic or German entities for.

Seems to me, that senior management at TCUK got themselves into a position they couldn't handle, saddled the company with debt it couldn't repay, and then went bankrupt. But, sure, blame someone else if that makes you feel better. I, on the other hand, am only happy that our fellow airline employees in Germany and Denmark are still able to go to work and collect a pay check, whilst of course feeling immensely sad for the innocent staff at TCUK, who lost their jobs because management was not up to the task of running the company.

See, you answered your own question. Well done 👍

Indeed, but I still don't understand why an utterly incompetent management at TCUK is the fault of TCDE and TCNE, let alone why that would quality them to have acted "disgracefully".

TCUK decided to have TCDE and TCNE as separate legal entities (actually, several legal entities) incorporated in Germany, Sweden and Finland. Each of those entities have a legal obligation to look after their own house first and foremost, although it's plainly obvious they would have been acting under the orders from TCUK. But when the smelly bits are fast approaching the fan, those legally responsible for those entities have a responsibility towards those first and foremost. If TCUK had wanted it another way, they should have organised themselves differently.

Fact is, the management of TCUK was incapable of running a travel agency, in stark contrast to management of the TCDE and TCNE affiliates. That's why the house came tumbling down, and the decision by TCUK management not to repatriate funds in order to prop of those entities for a possible sale, is yet another example thereof. I'm not going to say they acted criminally, but they sure as shyte were not up to the task of running the company they were entrusted with - to the detriment of their hard working and loyal employees.

I think, but am not sure, that the original comment was not about the continental companies. I think that he was referring to the individuals who were continental who badly managed TCUK and have feathered the own nests.

One more simple answer to the question why TCUK was grounded while Condor and Scandinavia was continued is the passenger base.
TCUK had 80% TCUK passengers -> as long TC is not kept alive, there is no sense to keep an airline alive only having 20% loadfactor remaining, without having any strcutures to sell the other 80% somehow in due time.
TC Scandinavia had initially the same problem, they had 100% passengers from their nordic tour operators. But since the tour operators are continued, the airline is flying also, because it the still has its passenergs.
Condor is similar, it only has 20% TC passengers and 80% single seat and other non-TC tour operators bookings, which makes much more sense to keep them flying. If Condor is able to compensate the missing 20% TC passengers in future, they are able to survive.

regards

I hope so for them but they need a buyer to keep them afloat and I don't see anyone coming in.

LH would only be interested in the name and the slots and I see no other suitable suitor ...

https://cimg8.ibsrv.net/gimg/pprune....b6d447c16a.jpg

Most of the " cheapies" cruising the European skies belong to the " People Mover " category. Condor is still a airline, and is run like a airline.
I took this photo a year ago. A beautiful piece of equipment still, but also one of the problems - the Condor fleet is over aged. A buyer would
have to buy new aircraft. However, I´ll be flying on Condor in a few days, and hope it will be on this old bird.

I think the fleet is not the major problem, most of the fleet is leased, they need to lease new(er) aircrafts - the cost of fleet swap is the major cost. But, you have to find a new investor putting money into a existing strategy, refund bailout, beeing at least 51% European and maintaining a good relationship to LH. A long range base in Frankfurt is only possible with a good relationship to LH, independant if LH is part of a future solution for Condor or not. They may have a chance, but its a difficult way to go.

Exactly - another problem and not attractive for LH or any other buyer.

Since when do you have to BUY aircraft. More aircraft are leased than not. The brand and its reputation is worth something irrespective of fleet ownership