[Travel] Thomas Cook

[clapham_gull]

Almost officially belly up. Worth it's own thread due to the hundreds of thousand abroad and the fact it will keep Brexit off the headlines for at least an afternoon.

600,000 customers currently abroad (150,000 Brits) and employs 21,000 people.

 

[Raleigh Chopper]

Almost officially belly up. Worth it's own thread due to the hundreds of thousand abroad and the fact it will keep Brexit off the headlines for at least an afternoon.

Was this caused by the weak pound due to Brexit uncertainty.
Sorry, couldn't resist it.

 

[clapham_gull]

Was this caused by the weak pound due to Brexit uncertainty.
Sorry, couldn't resist it.

No, the Government were unable to bail them out (unlike the banks) due to EU Government assistance laws.

Raab is preparing his statement ......

 

[Raleigh Chopper]

Sorry I was being facetious but I thought I heard on the news last week that they don't pay the hotel's until many months after the bookings (hence the Tunisia problem) and due to the weak pound they are struggling to get the money together to pay them and they need some dosh to help them to pay up
I may have got that totally wrong.

 

[clapham_gull]

Sorry I was being facetious but I thought I heard on the news last week that they don't pay the hotel's until many months after the bookings (hence the Tunisia problem) and due to the weak pound they are struggling to get the money together to pay them.

Yes looks like that.

 

[beorhthelm]

Was this caused by the weak pound due to Brexit uncertainty.

seriously, no, because they hedge their currency exposure. their investors want to put money in, just not enough, suggest its a going concern if had a better balance sheet. they had a large write down on another company merged with further pointing towards mismanagment, over extending the business. Brexit will be blamed though.

 

[Boys 9d]

The benefits of Privatisation?

 

[clapham_gull]

I know nothing about the holiday industry,

Are these companies being killed by simply booking your flight / hotel separately even via sites that do the "hard work" ?

 

[Chicken Run]

Saw a TC Airlines A330 take off from Vegas about an hour & three quarters ago, bet the pax were worried that wouldn’t get home !

 

[Coldeanseagull]

Looks like my daughter will get to spend a couple of extra days in Gran Canaria

 

[drew]

The benefits of Privatisation?

Who's been privatised then?

 

[nordicgod]

Official it’s ceased trading

 

[Kinky Gerbil]

I know nothing about the holiday industry,

Are these companies being killed by simply booking your flight / hotel separately even via sites that do the "hard work" ?

Not so much, people are getting wise to some of the hidden costs of booking.com etc.

I think TC collapsing will see an increase in package holiday bookings

 

[Rugrat]

Not so much, people are getting wise to some of the hidden costs of booking.com etc.

I think TC collapsing will see an increase in package holiday bookings

Who is going to be able to service such a vast volume? Only TUI left I think

 

[Kinky Gerbil]

Who is going to be able to service such a vast volume? Only TUI left I think

Holiday arms BA/Virgin/TUI will take a share of them depending on location.

We had people with TC bookings re-booking with us over the weekend and risked losing any deposits rather than wait for them to go under.

 

[arewethereyet?]

Looks like my daughter will get to spend a couple of extra days in Gran Canaria

I doubt it very much, if it’s anything like the Monarch repat flights then she will be back as expected.

 

[Kinky Gerbil]

No, the Government were unable to bail them out (unlike the banks) due to EU Government assistance laws.

Raab is preparing his statement ......

Didn’t the German Goverment loan air Berlin 200 million?

 

[Herr Tubthumper]

Almost officially belly up. Worth it's own thread due to the hundreds of thousand abroad and the fact it will keep Brexit off the headlines for at least an afternoon.

600,000 customers currently abroad (150,000 Brits) and employs 21,000 people.

150,000 Thomas Cook customers abroad....I didn’t realise Benidorm was that big?

 

[Justice]

Almost officially belly up. Worth it's own thread due to the hundreds of thousand abroad and the fact it will keep Brexit off the headlines for at least an afternoon.

600,000 customers currently abroad (150,000 Brits) and employs 21,000 people.

21,000 with no wages on Friday feel for them.

 

[dazzer6666]

Not so much, people are getting wise to some of the hidden costs of booking.com etc.

I think TC collapsing will see an increase in package holiday bookings

Just book direct with the airline/hotel ??

Trip to Cuba I took earlier this year would have been over £1,500 more by booking with Virgin Holidays than I paid by booking the flight (Virgin) and 2 hotels separately, then did the same again in Mexico (BA). Hotel much more likely to look after you better (room upgrades etc) if you book direct too, and they’ll almost always at least match any online price available.