Thomas Cook recruiting
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Terrific news, all of it. The caterers told me that we were bidding for the retired Space Shuttles! High density, high speed to SSH, where of course there are no noise restrictions!
Must go, I feel a deep night to DLM comi' on....
Must go, I feel a deep night to DLM comi' on....
Sounds to me like TCX doesn't need pilots, but is in desperate need of more HR executives and management consultants, to introduce a "step change" of exciting new cost cutting initiatives "going forward".
PPRuNe Secret Agent!
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BBC News - Thomas Cook shares plunge on profit warning
Meanwhile, the firm said that it had asked management of its UK business to begin "a fundamental strategic and operational review" in light of poor trading.
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Ludicrous
Am I the only one who wonders about the sanity of the city pricks in red braces?
The reality is that Thomas Cook have indicated that in light of various perfectly understandable market factors largely beyond their control they expect to make a profit of £320m in a major recession rather than the £380m they expected. To make a profit at all in the current climate is impressive enough.
It hardly warrants a sell off of such magnitude that the share price drops by a third.
I'm afraid these jumped up city analysts need to learn something about business and economics and lay off the boozy lunches a bit. this is what happens when you have a load of barrow boys running things who just follow what the guy sitting next to them is doing like sheep. Frankly the lot of them need to grow a pair.
I don't work for Thomas Cook but I'd like to and it annoys me that having caused the bloody recession, the banking crisis and the liquidity crisis in the first place these ass wipes are over-reacting to every minor trading update.
(3 years Commerce Degree, 12 years blue chip mgt, and the past few years at the controls of an airliner)
The reality is that Thomas Cook have indicated that in light of various perfectly understandable market factors largely beyond their control they expect to make a profit of £320m in a major recession rather than the £380m they expected. To make a profit at all in the current climate is impressive enough.
It hardly warrants a sell off of such magnitude that the share price drops by a third.
I'm afraid these jumped up city analysts need to learn something about business and economics and lay off the boozy lunches a bit. this is what happens when you have a load of barrow boys running things who just follow what the guy sitting next to them is doing like sheep. Frankly the lot of them need to grow a pair.
I don't work for Thomas Cook but I'd like to and it annoys me that having caused the bloody recession, the banking crisis and the liquidity crisis in the first place these ass wipes are over-reacting to every minor trading update.
(3 years Commerce Degree, 12 years blue chip mgt, and the past few years at the controls of an airliner)
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How to manage expectations
Desk-Pilot,
It is not really about spivs and braces.
Thomas Cook are a PUBLIC company, that accepted money from investors at floatation. They are duty bound to provide ACCURATE guidance to the London Stock Exchange as to how business is progressing.
It can be no surprise that when a business misses the previously stated by profit estimate by 20%, it has a bad effect on the share price.
It is as much about not being able to spout a load of old nonsense to the City - there by preventing asset bubbles - as it is about the City (not) understanding your business.
The facts are that the Chickens are coming home to roost here. Everyone - Thomas Cook included - thought business would be OK. It is not. It is dire. People are skint and they are foregoing their summer holidays.
Thomas Cook have a serious problem in the UK, and the City know it.
Had I still been a trader today, I'd have smashed the share price to pieces as well.
Remove the rose tinted spectacles: If the share price fall was overdone, the fund managers/speculators would have been hoovering up cheap shares all day. They've not been doing that for a good reason. Mainly because the share price fall is NOT an over reaction. On the contrary, there could be further to fall if the economy stays so subdued.
Best regards.
City Trader 1993-1999, Trainee Pilot 1999-2000 and Airline/Corporate Pilot 2000-present day.
It is not really about spivs and braces.
Thomas Cook are a PUBLIC company, that accepted money from investors at floatation. They are duty bound to provide ACCURATE guidance to the London Stock Exchange as to how business is progressing.
It can be no surprise that when a business misses the previously stated by profit estimate by 20%, it has a bad effect on the share price.
It is as much about not being able to spout a load of old nonsense to the City - there by preventing asset bubbles - as it is about the City (not) understanding your business.
The facts are that the Chickens are coming home to roost here. Everyone - Thomas Cook included - thought business would be OK. It is not. It is dire. People are skint and they are foregoing their summer holidays.
Thomas Cook have a serious problem in the UK, and the City know it.
Had I still been a trader today, I'd have smashed the share price to pieces as well.
Remove the rose tinted spectacles: If the share price fall was overdone, the fund managers/speculators would have been hoovering up cheap shares all day. They've not been doing that for a good reason. Mainly because the share price fall is NOT an over reaction. On the contrary, there could be further to fall if the economy stays so subdued.
Best regards.
City Trader 1993-1999, Trainee Pilot 1999-2000 and Airline/Corporate Pilot 2000-present day.
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Sadly NR is right, below is a good analysis of the situation:
Is This 12% Yield Sustainable? - 12/07/2011
More s@@t to fall in August I suspect, just hope some of lands on the Board.
My apologies for my earlier optimistic postings re': recruitment as these are clearly wrong. The management team said this evening that there were fewer leavers than originally thought, the Voluntary Severance scheme would not be renewed this winter and there would be no new commands. The possibility for redundancy was alluded to but not spelt out. Mea Culpa!
Is This 12% Yield Sustainable? - 12/07/2011
More s@@t to fall in August I suspect, just hope some of lands on the Board.
My apologies for my earlier optimistic postings re': recruitment as these are clearly wrong. The management team said this evening that there were fewer leavers than originally thought, the Voluntary Severance scheme would not be renewed this winter and there would be no new commands. The possibility for redundancy was alluded to but not spelt out. Mea Culpa!
I Have Control
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Blame the "boss"
Sadly MYT was successfully turned around by a hard-headed specialist and his team a few years back. The merger with TCX led to the new expanded company being led by a colourful character who still "runs" the outfit through a cult of personality. He has failed, but during this time has awarded himself and his team mega-bonuses. The cynicism that abounds about M F-N is extreme within the organisation, including the pilot workforce. They understand fully that the company cannot be run like a family outfit, although it currently is, with jobs for the boys in the flight deck. Further details cannot be given, but the symptoms of a badly-run company are there for all to dig out, much like Murdoch's papers!
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They understand fully that the company cannot be run like a family outfit, although it currently is, with jobs for the boys in the flight deck. Further details cannot be given
Further details cannot be given?? I'm sorry but it's all bones and no meat. Show your cards or back in your box.
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Let's be clear: the City aren't interested in the slightest about who flies the aircraft, or whether there is indeed a "jobs for the boys" culture in the Flight Ops department.
Flight Ops in TCX is the people transport division of the holiday group.
The problem here is there aren't enough customers for holidays, or if there are they aren't paying enough. It's not, per se, an airline problem (who are only reactive to tour ops demands) unless the airline is told to downsize soon.
Putting an extra 100 kg of fuel on won't make a huge difference to the bottom line of TC group, so I would forget any thoughts on that line. The city do NOT understand a flight plan, I can promise you that.
The problem here is that TCG effectively told the City they were headed for Glasgow. Then a few weeks later, they announced all of a sudden that the day trip would end in Carlisle............
Flight Ops in TCX is the people transport division of the holiday group.
The problem here is there aren't enough customers for holidays, or if there are they aren't paying enough. It's not, per se, an airline problem (who are only reactive to tour ops demands) unless the airline is told to downsize soon.
Putting an extra 100 kg of fuel on won't make a huge difference to the bottom line of TC group, so I would forget any thoughts on that line. The city do NOT understand a flight plan, I can promise you that.
The problem here is that TCG effectively told the City they were headed for Glasgow. Then a few weeks later, they announced all of a sudden that the day trip would end in Carlisle............
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I agree Narrow Runway this is not down to the Airline, it is bad management and planning from our Tours Ops division. This leads to a very interesting question; so where does the Airline go from here?
I personally believe we are rapidly approaching some defining moments for Thomas Cook Airlines as it currently exists. An axe must fall somewhere over this latest development, and my view is that it should come from the top where we are clearly being steered in the wrong direction. If we look around us, our nearest competitors are managing a depressed state with far geater success...
Next month the company will be releasing some information about a project that has been going on, which, if the snippets from the hangar are to be believed are us exploiting our very cheap seat costs in the 'seat only' market. This would give Thomas Cook Airlines some freedom to run their own Airline whilst providing seats for Tour Ops. Given current developments this may be no bad idea as it shows some intitiative and the group trying something new, which is now desperately needed given current stratergies are failing.
Yesterday on the webchat R O stated the press release was not going to impact on the plans for the Airline (well not at the moment anyway). The question is, if we do not try something new, what can we do next. The Airline and most probably the whole group is now cut to the bone, so to claw back dignity and more importantly profits they now have to do something...
I personally believe we are rapidly approaching some defining moments for Thomas Cook Airlines as it currently exists. An axe must fall somewhere over this latest development, and my view is that it should come from the top where we are clearly being steered in the wrong direction. If we look around us, our nearest competitors are managing a depressed state with far geater success...
Next month the company will be releasing some information about a project that has been going on, which, if the snippets from the hangar are to be believed are us exploiting our very cheap seat costs in the 'seat only' market. This would give Thomas Cook Airlines some freedom to run their own Airline whilst providing seats for Tour Ops. Given current developments this may be no bad idea as it shows some intitiative and the group trying something new, which is now desperately needed given current stratergies are failing.
Yesterday on the webchat R O stated the press release was not going to impact on the plans for the Airline (well not at the moment anyway). The question is, if we do not try something new, what can we do next. The Airline and most probably the whole group is now cut to the bone, so to claw back dignity and more importantly profits they now have to do something...
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gliding777,
That is a pointless post which as well as being totally irrelevant to the topic being discussed is very unfair to the individuals which you (all but) name.
Do you work for TCX, or do you just have a massive axe to grind?
That is a pointless post which as well as being totally irrelevant to the topic being discussed is very unfair to the individuals which you (all but) name.
Do you work for TCX, or do you just have a massive axe to grind?
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I think this is getting way too personal on a public forum. There are several guys (and a girl, I think) who have relatives in the business. No big deal, there were some in the Airtours days too. It has nothing to do with the current situation just as it had nothing to do with AIH's problems.