Thomas Cook

[juliet-fox-9]

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.

That's good to hear. Sadly it seems that we have different procedures for failing airlines. I believe Germania and airberlin were allowed to operate at least until their customers had been brought home.

 

[juliet-fox-9]

Letter from the CEO Peter Fankhauser.

Dear Colleagues,

It is with a heavy heart that I write this message to you. Despite the best efforts of so many people, I deeply regret to inform you that after many months of fierce negotiation we have failed to find the support required for the continued future of the Thomas Cook Group. I know you will find this incredibly difficult to digest – as I do. However, I want you to know that the team and I explored every avenue and beyond to save this business.

Late last night the Board took the decision to file for the insolvency of the UK businesses, including our UK based airline. In the early hours of this morning the High Court appointed the Official Receiver to act as liquidator. Unfortunately this means that with immediate effect these businesses cease to trade.

The UK businesses are now under the control of the Official Receiver who has appointed AlixPartners and KPMG as Special Managers to oversee the liquidation, and importantly, in the case of AlixPartners, to work with the business to assist the CAA who will now take charge of the repatriation of our UK customers, ensuring their safe passage home.

These insolvency proceedings do not involve our Continental and Nordic businesses. For those outside of the UK jurisdiction please refer to your local management teams to understand what this means for your business.

The coming weeks are going to be extremely difficult. However, I know I can rely on you all to behave in the same exemplary way you have always done in times of crisis. Shortly, you will receive invitations to relevant townhalls and team meetings that will be supported by our HR colleagues and professionals from AlixPartners or KPMG.

It has been an honour and my great privilege to work with all of you for the past 20 years. I am so proud of everything you have done to keep our customers at the heart of everything we do; your dedication and expertise is the reason why Thomas Cook will always be one of the best loved brands in travel.

Thank you for all of your support. I truly wish you all the best for your future.

Best regards,

Peter

 

[Creguk]

What a sad time for all those affected. RIP.

Also...did Thomas Cook fly as JMC back in the late 90s?

 

[Ianbutty]

Letter from the CEO Peter Fankhauser.

Dear Colleagues,

It is with a heavy heart that I write this message to you. Despite the best efforts of so many people, I deeply regret to inform you that after many months of fierce negotiation we have failed to find the support required for the continued future of the Thomas Cook Group. I know you will find this incredibly difficult to digest – as I do. However, I want you to know that the team and I explored every avenue and beyond to save this business.

Late last night the Board took the decision to file for the insolvency of the UK businesses, including our UK based airline. In the early hours of this morning the High Court appointed the Official Receiver to act as liquidator. Unfortunately this means that with immediate effect these businesses cease to trade.

The UK businesses are now under the control of the Official Receiver who has appointed AlixPartners and KPMG as Special Managers to oversee the liquidation, and importantly, in the case of AlixPartners, to work with the business to assist the CAA who will now take charge of the repatriation of our UK customers, ensuring their safe passage home.

These insolvency proceedings do not involve our Continental and Nordic businesses. For those outside of the UK jurisdiction please refer to your local management teams to understand what this means for your business.

The coming weeks are going to be extremely difficult. However, I know I can rely on you all to behave in the same exemplary way you have always done in times of crisis. Shortly, you will receive invitations to relevant townhalls and team meetings that will be supported by our HR colleagues and professionals from AlixPartners or KPMG.

It has been an honour and my great privilege to work with all of you for the past 20 years. I am so proud of everything you have done to keep our customers at the heart of everything we do; your dedication and expertise is the reason why Thomas Cook will always be one of the best loved brands in travel.

Thank you for all of your support. I truly wish you all the best for your future.

Best regards,

Peter

Terrible news. I just hope those who have lost their jobs will find work as soon as possible. My thoughts are with them. Another massive loss.

 

[nwoody2001]

Seems as with the MON collapse, we''ll be seeing a decent number of wide body movements as part of the repatriation. though id much rather have the airline in full health!!

I thought i' start having a look at the ACL reports to understand the impact the loss of TCX will have on the airport. They were after ll the 5th largest airline at BHX so their impact is big. I have totted up their winter and summer capacity at S19 an W18/19 at BHX as well as MAN as a comparison.

Of interest, unsurprisingly, TCX is a very seasonal airline with its market share for each airport dropping by 3-4% in the winter months. Remember that TCX had a much bigger and long-haul base out of MAN compared to BHX, unlike MON, MAN will be much more effected then BHX, although I suspect they will be in a better place to replace the last capacity, namely Virgin on long-haul....

some interesting number below....

BIRMINGHAM (BHX)

TCX Summer Season 2019 Allocations (BHX)

• Seats: 683,720 (-24,996, -3.53% on 2018)
• ATMs: 3,166 (-174, -5.21% on 2018)
• Market Share: 6.56%

TCX Summer Weekly Peak 2019 Allocations (BHX)

• Seats: 24,200 (-2,400, -9.02% on 2018)
• ATMs: 112 (-14, -11.12% on 2018)
• Market Share: 6.55%

TCX Winter Season 2018 Allocations (BHX)

• Seats: 189,840 (+39,905, +26.61% on 2017)
• ATMs: 914 (+231, +33.81% on 2017)
• Market Share: 3.50%

TCX Winter Weekly Peak 2018 Allocations (BHX)

• Seats: 10,320 (+3,280, +46.59% on 2017)
• ATMs: 50 (+18, +56.28% on 2017)
• Market Share: 3.94%

MANCHESTER (MAN)

TCX Summer Season 2019 Allocations (MAN)

• Seats: 2,441,653 (+106,443, +4.56% on 2018)
• ATMs: 10,097 (+711, +7.56% on 2018)
• Market Share: 10.43%

TCX Summer Weekly Peak 2019 Allocations (MAN)

• Seats: 91,737 (+5,067, +5.85% on 2018)
• ATMs: 376 (+24, +6.82% on 2018)
• Market Share: 10.83%

TCX Winter Season 2018 Allocations (MAN)

• Seats: 788,939 (+130,751, +19.87% on 2017)
• ATMs: 3,249 (+731, +29.03% on 2017)
• Market Share: 6.50%

TCX Winter Weekly Peak 2018 Allocations (MAN)

• Seats: 36,642 (+5,462, +17.52% on 2017)
• ATMs: 156 (+32, +25.81% on 2017)
• Market Share: 6.42%

 

[Vinny94]

Can't believe one of my favourite airlines has collapsed, I never had a problem with them. I knew they were in financial troubles but didn't expect them to go out of business today, I thought they would have been around a bit longer.
My only 2 choices now look to be TUI or Jet2 to sunny destinations now.😢

 

[Matt995]

Really sad news about Thomas Cook, my thoughts go out to all employees, especially any who might have transferred from Monarch after their collapse

It basically now leaves just one package holiday/charter airline TUI and who knows how healthy they are with the Max issues? Will we now see the cost of their holidays/flights rocket in price as they now have no direct competition?

I remember the 80s when we had loads of package holiday companies,Thomson, Horizon, Cosmos, Airtours, Intersun etc.. Have all the low cost airlines now killed off the package holiday?

Sad day for the UK aviation industry

 

[juliet-fox-9]

I remember the 80s when we had loads of package holiday companies,Thomson, Horizon, Cosmos, Airtours, Intersun etc.. Have all the low cost airlines now killed off the package holiday?

Definitely a factor, plus the death of the high street travel agency with the rise of DIY holidays that people could create for themselves on the internet (again brought about by LCC's).

 

[nwoody2001]

Really sad news about Thomas Cook, my thoughts go out to all employees, especially any who might have transferred from Monarch after their collapse

It basically now leaves just one package holiday/charter airline TUI and who knows how healthy they are with the Max issues? Will we now see the cost of their holidays/flights rocket in price as they now have no direct competition?

I remember the 80s when we had loads of package holiday companies,Thomson, Horizon, Cosmos, Airtours, Intersun etc.. Have all the low cost airlines now killed off the package holiday?

Sad day for the UK aviation industry

You seem to have forgotten about Jet2.....

 

[GliderPilot]

Some of the aircraft TCX was leasing from Avion Express and SmartLynx are being operated in the repatriation process. These aircraft are in full TCX colours.

Just gonna post this in our BHX thread aswell. This is unique and I'm sure it didn't happen when Monarch went under although their aircraft we're also leased

(**QUESTION FOR MODERATORS** would the Thomas Cook thread where I posted above be the best thread for posting about the entire Operation Matterhorn rather than a thread per airport? Was thinking about making one specifically for Operation Matterhorn it but not sure whether I should just use the existing TCX thread)

 

[Jerry]

Just gonna post this in our BHX thread aswell. This is unique and I'm sure it didn't happen when Monarch went under although their aircraft we're also leased

(**QUESTION FOR MODERATORS** would the Thomas Cook thread where I posted above be the best thread for posting about the entire Operation Matterhorn rather than a thread per airport? Was thinking about making one specifically for Operation Matterhorn it but not sure whether I should just use the existing TCX thread)

I'd say use the existing TCX thread in the airline forum.

 

[GliderPilot]

I'd say use the existing TCX thread in the airline forum.

Cheers Jerry, will do so 🙂

 

[Vinny94]

Looks like we need to create a memories of Thomas Cook thread now like how we did with Monarch. Feels like a bad dream.

 

[Ray Finkle]

During the quiet periods at work today I've been looking through some of the social media posts of Thomas Cook crew on what was to be the last day of their jobs. What struck me was not that they loved their jobs but they genuine had a love for the company. Even with the direct prospect of losing their employment they stayed professional until the very end.

I really hope that they get picked up very soon as dedication like that would be a real asset to any company.

Also...did Thomas Cook fly as JMC back in the late 90s?

They sure did, according to Wiki they were named after the after the initials of Thomas Cooks son, John Mason Cook.

I remember flying with them from BHX to Kos.

Looks like we need to create a memories of Thomas Cook thread now like how we did with Monarch. Feels like a bad dream.

I think we need to wait a while for the dust to settle but if in the near future someone would like to start a thread I'm sure that many would like to share their memories.

 

[Matt995]

You seem to have forgotten about Jet2.....

Nope not forgetting Jet2 but I class them and Easyjet, Ryanair as scheduled airlines as the summer schedules start from end of March. Thomas Cook and TUI I class as charter airlines (May to Oct)

Birmingham passenger figures will be down now for the rest of the year now

 

[Jerry]

Nope not forgetting Jet2 but I class them and Easyjet, Ryanair as scheduled airlines as the summer schedules start from end of March. Thomas Cook and TUI I class as charter airlines (May to Oct)

Actually Thomas Cook Airlines were a scheduled airline which sold it's own flight only. The sad thing is that the airline was profitable, it was the holiday group that brought it down. They were no different to Jet2 and the way Jet2 are going they are going to be more like TUI where the flight only is very expensive and it's all about the package. If the airline had survived on it's own i could've genuinely seen TCX becoming a more leisure focused LCC.

 

[Ianbutty]

Actually Thomas Cook Airlines were a scheduled airline which sold it's own flight only. The sad thing is that the airline was profitable, it was the holiday group that brought it down. They were no different to Jet2 and the way Jet2 are going they are going to be more like TUI where the flight only is very expensive and it's all about the package. If the airline had survived on it's own i could've genuinely seen TCX becoming a more leisure focused LCC.

Pity if the airline was viable. They should have ring fenced it from the downfall of their other businesses.

What I still don't get is why the CAA simply take over tee airline on behalf of the government and use the pilots and cabin crew as part of the bring them home effort.

 

[Ray Finkle]

🙁

 

[Brum X]

🙁🙁🙁

 

[juliet-fox-9]

Pity if the airline was viable. They should have ring fenced it from the downfall of their other businesses.

Unfortunately it seems that the only way they could have done that was by finding a buyer.

What I still don't get is why the CAA simply take over tee airline on behalf of the government and use the pilots and cabin crew as part of the bring them home effort.

The problem is, in contrast to Germany, UK law means the Air Operators Certificate is automatically revoked if an airline goes into administration. I agree that it's a poorer way to handle it, since the CAA has to plan in advance and they don't know whether the AOC would need revoking until the actual declaration of insolvency.

To keep TCX's own planes in the air under the current system, the CAA would have needed to take ownership of the airline beforehand. But that then raises the possibility of a dispute over ownership as someone could come up with last minute funding (Monarch in 2016).