[Travel] Thomas Cook

[clapham_gull]

A woman from Bradford was in tears at Mallorca Airport on the news as they had to wait 9 hours for a flight and the biggest issue was her son was starving as he did not like any of the food at the airport.

Typical Spanish no McDonalds, KFC or Burger King - fecking disgraceful

Having been there a few weeks ago, I can confirm there is a Burger King, a McDonalds AND an Upper Crust.



You can also get Pizzas and Bratwurst.

My major problem with Palma Airport is you can't get anything Spanish to eat.

 

[dazzer6666]

Well actually, it is the point. There has to be a pragmatic approach. A single holiday company is not vital to the economy whereas a major bank is. If a holiday company goes bust, a few people miss out on a holiday, they should get their money back and those abroad won't be stranded.

A bank folds then millions of people are affected. RBS for example has an estimated 19m customers.

Yep. The banks have huge amounts lent to/borrowed from each other. One default would trigger an unstoppable and catastrophic chain of defaults, and the country would essentially be ****ed.

 

[BN41Albion]

A woman from Bradford was in tears at Mallorca Airport on the news as they had to wait 9 hours for a flight and the biggest issue was her son was starving as he did not like any of the food at the airport.

Typical Spanish no McDonalds, KFC or Burger King - fecking disgraceful

I saw that report. The people they interviewed didn't do much for the Brits abroad stereotype, did they

 

[The Wookiee]

I’ve just read on the bbc that Thomas Cook have laid some of the blame on Brexit, saying people have delayed booking their holidays because of it. Really Does anybody know anyone who hasn’t gone on holiday over the last few years because of Brexit ??

 

[Kinky Gerbil]

I’ve just read on the bbc that Thomas Cook have laid some of the blame on Brexit, saying people have delayed booking their holidays because of it. Really Does anybody know anyone who hasn’t gone on holiday over the last few years because of Brexit ??

People have been delaying booking and also costs have gone up due to the exchange rates.

Whilst it’s not the reason they have gone under it has impacted

 

[The Wizard]

A woman from Bradford was in tears at Mallorca Airport on the news as they had to wait 9 hours for a flight and the biggest issue was her son was starving as he did not like any of the food at the airport.

Typical Spanish no McDonalds, KFC or Burger King - fecking disgraceful

I’m wondering how she’s fed her child at all during the holiday, I mean do they even have Iceland’s in Spain?

 

[Weststander]

I'm owed just shy of £2.5k in compensation for delayed flights last month (we lost 24 hours of our family holiday, essentially). Evidently I'm no longer able to claim this from the now defunct Thomas Cook, so unless it's somehow covered by ATOL (and having read up, I don't think it is) it looks like I've shat out on that.

That said, there are literally thousands of people in far worse positions than I am tonight as result of this mess, not least the staff, so I'll try not to feel too sorry for myself. Aside from my own personal misfortune, I just find the whole situation very, very sad. It makes you wonder just how many institutions in the mould of Thomas Cook are a mere sniff of a financial disaster away from ceasing to exist. WIth 20,000+ jobs I honestly thought TC were in the 'too big to fail' category; evidently not, but is there even such a thing anymore?

In these uncertain political times, and the potential impact on UK businesses of all sizes, I fear we could see a mass extinction of some major household name brands over the next couple of years. Worrying stuff.

It’s been going on for 20 years, possibly longer, with an ever evolving business world, competition from new internet rivals, changing consumer tastes eg far more people book their holidays independently.

Comet, Woolworths, BHS, Monarch, ToysRUs, C&A.

Aisling retailers forever reporting bad financial news (BBC/Sky newsreaders appear to report this with excitable pleasure) include M&S, Debenhams and Arcadia (Topshop, Miss Selfridge).

Perhaps they’ll be next?

 

[bluenitsuj]

A woman from Bradford was in tears at Mallorca Airport on the news as they had to wait 9 hours for a flight and the biggest issue was her son was starving as he did not like any of the food at the airport.

Typical Spanish no McDonalds, KFC or Burger King - fecking disgraceful

The woman from Bradford can **** off

 

[The Wookiee]

People have been delaying booking and also costs have gone up due to the exchange rates.

Whilst it’s not the reason they have gone under it has impacted

Don’t get why people have delayed booking because of Brexit ?

 

[Triggaaar]

'I've been through the accounts again and yes, the company is definitely going under'

'Right, bonuses all round it is then'

 

[clapham_gull]

I’m wondering how she’s fed her child at all during the holiday, I mean do they even have Iceland’s in Spain? [emoji38]

They have LIDL. Everywhere.

Sent from my BLA-L09 using Tapatalk

 

[Kinky Gerbil]

Don’t get why people have delayed booking because of Brexit ?

I must point out I don’t agree with all these.... but part of the reasons cited

Don’t want to be stranded overseas/will the holiday happen
Poor exchange rate/people waiting for improvement.
Would rather put money aside just in case
Worry over own jobs

TC going under won’t install confidence in the market.

 

[Triggaaar]

A woman from Bradford was in tears at Mallorca Airport on the news as they had to wait 9 hours for a flight and the biggest issue was her son was starving as he did not like any of the food at the airport.

Leave him a week until he actually is starving, and then we'll see what he eats.

 

[Triggaaar]

I’ve just read on the bbc that Thomas Cook have laid some of the blame on Brexit, saying people have delayed booking their holidays because of it. Really Does anybody know anyone who hasn’t gone on holiday over the last few years because of Brexit ??

So it's not because it was a shit business model in today's market then?

 

[The Wizard]

They have LIDL. Everywhere.

Sent from my BLA-L09 using Tapatalk

I’m sure they must do but I’ve never seen a LIDL in Majorca, lots of SPAR everywhere but never seen a Lidl.

 

[Lower West Stander]

Very, very unlikely. They went into compulsory liquidation, not an administration. This means that they’ve ceased trading entirely. It’s just possible that small parts of the business may be bought, but even that’s unlikely - a purchaser would have to move very swiftly (within about 24-48 hours); any UK employees of those parts of the business would be TUPEd over.

Any hedge fund who had a credit default swap position (I don’t know if there are any) will now do very nicely out of the liquidation. So that’s alright then.

I’ve only gone this far down the thread but this is the real reason they went bust.

Hedgies have been shorting the shit out of CDS and running basis trades on the equity.

I find it amazing our so called intelligent financial press haven’t picked up on this at all. Yes you could blame management, RBS, the government etc, but the real culprits look like they’ll get off scot free.


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[Raleigh Chopper]

A woman from Bradford was in tears at Mallorca Airport on the news as they had to wait 9 hours for a flight and the biggest issue was her son was starving as he did not like any of the food at the airport.

Typical Spanish no McDonalds, KFC or Burger King - fecking disgraceful

Winging northerner crying "I just wanna go home"
My baby this, my baby that.
Typical stereotype of so many today.

 

[ForestRowSeagull]

https://www.bbc.co.uk/sounds/play/m0008pp4

Worth a listen. Pretty shocking from many aspects.

 

[beorhthelm]

I’ve just read on the bbc that Thomas Cook have laid some of the blame on Brexit, saying people have delayed booking their holidays because of it. Really Does anybody know anyone who hasn’t gone on holiday over the last few years because of Brexit ??

their interim report was interesting, for wider economic impacts in addition to Brexit, citing slowing consumer demand in Germany and environmental concerns in Nordics. these are canaries for medium term economy in europe.

 

[Weststander]

I’ve only gone this far down the thread but this is the real reason they went bust.

Hedgies have been shorting the shit out of CDS and running basis trades on the equity.

I find it amazing our so called intelligent financial press haven’t picked up on this at all. Yes you could blame management, RBS, the government etc, but the real culprits look like they’ll get off scot free.


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It's been mentioned loads, e.g. on 5live just then. It was in the main shareholders insuring/hedging against the collapse of their share values.

It did not bring the company down.

The banks (who had absolutely no interest in the fate of shareholders, after all the proposed new debt would've severely diluted share prices), were not prepared to lend ever larger sums to a business generating incredible losses year after year. Why should they?