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Thomas Cook-Beware

Old 19th May 2019, 19:12
  #101 (permalink)  
 
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Perhaps Greybull Capital could buy them........
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Old 19th May 2019, 21:15
  #102 (permalink)  
 
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Originally Posted by RAT 5 View Post
The Public also need educating sometimes. Some of the recent decisions in various elections, worldwide, might have been based on mis-information and they might have been suckered by the side that were better at clouding the real issues than the other.
Good luck with educating the public. These days, too many powerful forces want to keep the public‘s eyes shut in many regards. And, largely owning the mass media, they have been doing pretty well so far.
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Old 30th Jun 2019, 20:43
  #103 (permalink)  
 
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Latest gossip is, TC won't sell their airlines after all.
Apparently found other ways of controlling their dept.
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Old 1st Jul 2019, 16:37
  #104 (permalink)  
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Originally Posted by safelife View Post
Latest gossip is, TC won't sell their airlines after all.
Apparently found other ways of controlling their dept.
Just gossip. Nothing more. The airlines will be sold.
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Old 1st Jul 2019, 23:49
  #105 (permalink)  
 
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I heard there was a conference yesterday. Any news?
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Old 7th Jul 2019, 10:03
  #106 (permalink)  
 
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Ten days to news, allegedly.
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Old 7th Jul 2019, 12:27
  #107 (permalink)  
 
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is there any inclination of what the news will be or positive/negative?
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Old 7th Jul 2019, 19:14
  #108 (permalink)  
 
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As the Company is close to bankrupt, it will be a choice of restructuring or restructuring and the shareholders taking a hit (again). The airline might get off lightly as there will still be all those people needing to be flown on holiday.

Last edited by Capt Scribble; 8th Jul 2019 at 07:39.
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Old 9th Jul 2019, 11:17
  #109 (permalink)  
 
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Originally Posted by Capt Scribble View Post
As the Company is close to bankrupt, it will be a choice of restructuring or restructuring and the shareholders taking a hit (again). The airline might get off lightly as there will still be all those people needing to be flown on holiday.
Thomas Cook airlines are nowhere close to bankrupcy. All airlines are profitable and in good health.

It is the tour operator that is struggling.

Please do not spread false informations.
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Old 9th Jul 2019, 12:37
  #110 (permalink)  
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The airlines are wholly owned subsidiaries of Thomas Cook Group PLC. As such, they will all go if the PLC folds. They are assets owned by the PLC and would be used by administrators to pay back creditors.

I don't think that is likely though. Big changes will occur before the winter low season.
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Old 9th Jul 2019, 14:17
  #111 (permalink)  
 
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Takeover by Chinese, most probably.
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Old 9th Jul 2019, 14:50
  #112 (permalink)  
 
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@Raski, The share price would indicate otherwise. You are correct re the airline, I was referring to the PLC which is now at the level of debt that MYT plc and TCX plc restructured on previous occasions. As a share holder and employee, I do have the picture. Unfortunately, the airline is the only asset left to reduce debt and imho will not be an easy thing to sell for its worth. I think the future will be “rice or noodles” rather than “chicken or beef”!
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Old 9th Jul 2019, 18:01
  #113 (permalink)  
 
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Originally Posted by Capt Scribble View Post
@Raski, The share price would indicate otherwise. You are correct re the airline, I was referring to the PLC which is now at the level of debt that MYT plc and TCX plc restructured on previous occasions. As a share holder and employee, I do have the picture. Unfortunately, the airline is the only asset left to reduce debt and imho will not be an easy thing to sell for its worth. I think the future will be “rice or noodles” rather than “chicken or beef”!
i am employee too.
noodles.
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Old 10th Jul 2019, 11:42
  #114 (permalink)  
 
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Possible sale of the tour operator to Chinese is a very good explanation for desire to sell the airline separately as Chinese cannot legally own it (at least not the EU parts of post-Brexit). Same like TNT and Fedex deal years ago.
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Old 11th Jul 2019, 07:20
  #115 (permalink)  
 
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From the "Motley Fool" (30th June2019)......

Over the 12 months to 31 March, Thomas Cook paid £122m in interest costs but only generated £30m of cash from operations. The firm’s latest balance sheet shows total liabilities of £6,371m and total assets of just £5,026m. This suggests that the firm may be insolvent. Without a refinancing deal, I don’t see how Thomas Cook can continue trading.

£ at its lowest since 2000, shrinking economy, less disposable income available.
I doubt things will improve when Boris moves into No.10.

Genuine best wishes to all crew.
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Old 11th Jul 2019, 14:08
  #116 (permalink)  
 
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Its going to be a debt for equity swap.

Thomas cook will survive, but shareholders probably face a beating.
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Old 11th Jul 2019, 17:09
  #117 (permalink)  
 
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I saw Thomas Cook Balearics is recruiting …. Different entity?
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Old 11th Jul 2019, 21:40
  #118 (permalink)  
 
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Originally Posted by eiffel View Post
I saw Thomas Cook Balearics is recruiting …. Different entity?
Nope, part of the same group.
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Old 12th Jul 2019, 09:39
  #119 (permalink)  
 
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As long as the deal goes through the company will be delisted from the stock exchange. The £300m will not be required as Thomas cook will have no debt as such, and will not be required to make interest payments.
It secures the long term future of the business, but shafts the shareholders.
Then I think huge changes are going to be made in the medium term.
I get the feeling that Thomas cook wanted to sell the airlines to Lufthansa, but Lufthansa’s issues of late made that deal very difficult. This deal will leave open the door to Lufthansa to take a majority stake in the airline without having to take ownership in its entirety. But that’s for the 3-5 year future term.

Interesting times ahead.

There will be no rights issue.
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Old 12th Jul 2019, 09:49
  #120 (permalink)  
 
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Originally Posted by Jonty View Post
.
There will be no rights issue
The RNS says that shareholders will be diluted, but they will have an opportunity to participate. Maybe not an RI, but some form of equity or stake on offer, in exchange for cash, and that implies remaining listed. I can't see many takers for that, personally. Being a minority shareholder in these situations is a mugs game - the bond holders and banks call the shots. The cash injection is only at the discussion stage, so the debt holders/banks may well decide they would be throwing good money after bad, and instead just sell off the component parts in a liquidation. A key factor is how much the slots are worth, because after the Monarch(?) precedent, they do not remain assets of the liquidators, so that can incentivise keeping the airline running for long enough to sell them on (although the CAA may be disinclined to allow this)

Last edited by Joe le Taxi; 12th Jul 2019 at 10:14.
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