Thomas Cook

[rollo]

Andy , multi billionaires know how to make money not loose it and anyway Foson do not own Thomas Cook they are a minority shareholderLooking to take a majority stake so long as it makes financial sense for them.

 

[JENNYJET]

Remember when Thomas Cook used to be known as Cook's Tours? The go to agency if one wanted to travel, a travel organiser and not a provider of aircraft or ships or hotels.

if they fail and have to liquidate, no one else is safe i.e. TUI.

 

[Jerry]

Hi there all, so why are thomas cook in financial problems, haven't they a multi billionaire Chinese man from fosun, that can bail them out as they are a private company, let the owners use their own money and not tax payers money.

Even if that money saves 20,000 jobs?

 

[richard winterbourn]

The oxygen of publicity can make a company, but it can also cripple a company. I have thought that one of the reasons Monarch could not survive was the adverse publicity it had received from anything up to 12 months before its demise. Worried punters in fear of losing their hard-earned cash booked well in advance with alternative airlines: its revenue stream dwindled and the inevitable happened when venture capitalists declined to provide life-blood cash.

I do not hope the same happens to Thomas Cook. But even this morning on BBC TV travel 'expert' Simon Calder's commentary often referred to the 'worst case scenario'. This does not help, it only seeks to promote the idea of failure in the minds of those planning holiday and flights. And if people do move away from Thomas Cook now and in the coming weeks, it is only going to make a desperate and dire situation much, much worse.

As much as i have sympathy with those seeking to plan holidays and flights, my greatest care and concern is for those thousands of people who depend on Thomas Cook for their livelihood.

 

[rollo]

The oxygen of publicity can make a company, but it can also cripple a company. I have thought that one of the reasons Monarch could not survive was the adverse publicity it had received from anything up to 12 months before its demise. Worried punters in fear of losing their hard-earned cash booked well in advance with alternative airlines: its revenue stream dwindled and the inevitable happened when venture capitalists declined to provide life-blood cash.

I do not hope the same happens to Thomas Cook. But even this morning on BBC TV travel 'expert' Simon Calder's commentary often referred to the 'worst case scenario'. This does not help, it only seeks to promote the idea of failure in the minds of those planning holiday and flights. And if people do move away from Thomas Cook now and in the coming weeks, it is only going to make a desperate and dire situation much, much worse.

As much as i have sympathy with those seeking to plan holidays and flights, my greatest care and concern is for those thousands of people who depend on Thomas Cook for their livelihood.

I agree with what you say Richard although we as individuals have two trips booked via a Thomas Cook travel agent which we will probably have to work through

I suppose the question everyone on here would need to answer is if you were booking a trip over say the next 12 months would you use your hard earned cash with them the probable the answer would be no and that will be a huge consideration for any white knight or preditor who may appear on the scene.

 

[Coathanger16]

I suppose the question everyone on here would need to answer is if you were booking a trip over say the next 12 months would you use your hard earned cash with them the probable the answer would be no and that will be a huge consideration for any white knight or preditor who may appear on the scene.

Exactly. Once there's a rumour of an airline starting to struggle, people will start looking elsewhere for flights, which then snowballs to the current situation. Stopping that very first rumour is almost impossible as airlines publish their profit/loss reports each year. Any loss or the airline not publishing their results will be taken badly by the public and start this whole chain.

 

[Jerry]

Exactly. Once there's a rumour of an airline starting to struggle, people will start looking elsewhere for flights, which then snowballs to the current situation. Stopping that very first rumour is almost impossible as airlines publish their profit/loss reports each year. Any loss or the airline not publishing their results will be taken badly by the public and start this whole chain.

And the press then inflame things using words like stranded.

 

[jfy1999]

Even if they are bailed out it may be hard for them to survive the winter as there appears to be conflict looming between Iran and Saudi Arabia which has already caused a 20 percent spike in crude oil prices.

Stands to be a tough winter for all European airlines.

 

[JENNYJET]

I expect services to sub continent to be suspended if Americans get involved as Russia may limit passage rights to airspace.

picture may change of course it depends upon The Donald listening to his sensible advisors, if any remain at Washington DC.

 

[Brum X]

Even if they are bailed out it may be hard for them to survive the winter as there appears to be conflict looming between Iran and Saudi Arabia which has already caused a 20 percent spike in crude oil prices.

Stands to be a tough winter for all European airlines.

Or they might survive this year but when we get to September/October 2020 then all over again just like with Monarch.

My thoughts are with all involved.

 

[Ianbutty]

And the press then inflame things using words like stranded.

The press are pathetic particularly those dimwits on the BBC morning news. Where have intelligent people gone? Even Simon Calder put them in their rightful dimwit place this morning.

Wish everyone especially the staff, well. Hopefully the company will be saved.

 

[Jon Dempsey]

Alex Macheras has tweeted

Announcement to public re-#ThomasCook to be made once all aircraft are on ground — (with no obligation to make public statement until the markets open at 07:00 BST on Monday).

The same as Monarch.

Wet lease aircraft are on their way to the UK.

Very sad.

 

[Rob c DSA]

Sad situation this the whole thing is turning in to a circus, people posting this that and another for all concerned the sooner Thomas Cook make a statement the better.

 

[Brum X]

This is so sad, what is happening to our airline industry.

 

[Rob c DSA]

For the man who just likes to spot or shoot it is unreal to think that in the space of two years places like Birmingham and Manchester could lose two major carriers like Monarch and TCX.

 

[Ianbutty]

E

Sad situation this the whole thing is turning in to a circus, people posting this that and another for all concerned the sooner Thomas Cook make a statement the better.

They won't say anything until they have something substantial to say. Everyone will get home just fine.

Very sad but online has killed so many businesses. We mourn but how many of use a travel agent? Value of the pound has not helped. B have a lot to answer for as well. Too much asset stripping and not enough homegrown ownership.

We only have ourselves to blame for this mess.

Hopefully it will be saved but looking unlikely.

 

[paully]

E

They won't say anything until they have something substantial to say. Everyone will get home just fine.

Very sad but online has killed so many businesses. We mourn but how many of use a travel agent? Value of the pound has not helped. B have a lot to answer for as well. Too much asset stripping and not enough homegrown ownership.

We only have ourselves to blame for this mess.

Hopefully it will be saved but looking unlikely.

The real culprits are incompetent management..today's issues are a nonsense..Go back to 2007 when Manny bought Airtours for stupid money.Then loaded the cost onto the operating company.He did the same when he bought out Co Op travel shops chain. It took the board ages to wake up to him before he was sacked..since then every penny they made went to service their debt. The latter day management fudged and hoped something would turn up but never did..This is nothing to do with Government or Brexit or deceit by others but jobs, hopes, livelihoods and futures have been sacrificed on the bonfires of vanity and incompetence

 

[Ray Finkle]

Even though we knew it was coming it's still awful news to wake up to, absolutely devastated for the employees.

Who'd have thought we'd lose Monarch and Thomas Cook in the space of two years

Best of luck for the future to all of those affected.

 

[jfy1999]

I know TCX have been heavily criticised for various reasons, but as someone said when Monarch collapsed, the most important thing is that their pilots and cabin crew did their duty from the first flight to the last flight and got their passengers home safely.

Where could the employees go now? easyJet, BA and Virgin fly Airbus so the pilots might transition more easily over to them. Fosun will need someone to feed their Club Med business so there is a possibility that they could try using the TCX assets to create a new airline.

As long as Jet2 continue to expand, there will be good opportunities for BHX based cabin crew.

Perhaps Condor employees are in the best place as Lufthansa have often been interested in buying them and could now get their assets on the cheap. They are as much a household name in Germany as TCX are over here with a much wider coverage of their home country. To lose them so soon after Germania and airberlin will have hit the smaller regional airports particularly hard. Many of their employees will have come from those two airlines.

 

[Jerry]

Perhaps Condor employees are in the best place as Lufthansa have often been interested in buying them and could now get their assets on the cheap. They are as much a household name in Germany as TCX are over here with a much wider coverage of their home country. To lose them so soon after Germania and airberlin will have hit the smaller regional airports particularly hard. Many of their employees will have come from those two airlines.

Condor will continue to operate and has applied for an emergency loan from the German government which if granted will no doubt raise questions as to why the UK government couldn't do something similar.