Been done?
Just saw it on the news.
If they do go pop it will be the largest emergency repatriation effort since WW11 apparently.
Shit, we are due to go out to Tenerife with them in October school hols. The kids won’t be happy if we don’t get to go.
They need An extra £200m to stay afloat or its going to cost the civil aviation authority £600m to get everyone home.
Funny old world 🙄
Waiting for the photoshopped "Let's leave the EU and save Thomas Cook instead."
Silly jokes aside, hope this doesn't wreck anyone's holiday plans
Interesting, I wonder how their business model has altered since... y’kno 😵
aberdeenlune
Member
Shit, we are due to go out to Tenerife with them in October school hols. The kids won’t be happy if we don’t get to go.
Genuinely feel for you mate and hopefully they sort this out. It's like the 1970s again where this sort of stuff happened a lot apparently?
Mr lad went away with them only a few weeks back with his girlfriend. I was a bit worried about that but luckily the company has survived this far.
Fingers crossed for you guys too.👍
Oh dear. Who would have thought a survey of public opinion would have resulted in holiday flights to and from Majorca being cancelled, eh? Oh well; “price worth paying”, “sovereignty”, “voice of the people”?
Blue passports don’t mean a thing when they haven’t been internationally ratified. Lofl.
I booked flights to Egypt with them last week to go in November. 🤞🤞🤞
Other travel companies/airlines are also in difficulty.
https://onemileatatime.com/xl-airways-financial-problems/
See also Cathay Pacific cutting loads of flights.
Tough time for the industry.
Travelling with TC and just waiting to board a flight to Naples for a week away. Possibility it could be more than a week...
Halfway through our hol with TK in almeria.
Our first family holiday since mini mon arrived could be more memorable than we thought.
Everything’s going to be just fine.........
Fingers crossed for you guys going abroad or already abroad.
Hopefully, even if things go south it won't be for weeks rather than days.
Now the cat is out of the bag, it seems collapse is even more likely, new bookings are going to plummet from today. ☹️ Employ loads of people too, (including one of my cousins) Shit news around.
I guess the £4.5k they kept after I had to cancel my holiday hasn’t kept them going....
Cancelled due to 3 yo Daughter having serious brain injury (ADEM), they were buggers when I rang to cancel
My brother started a permanent job with them on Monday, after years subcontracting all around Europe he was well pleased to be able to settle in the Manchester area.
On the other hand he did vote for Brexit, figure that one out.
Pretty inevitable that one of the big holiday firms would go pop in the current climate. Wouldn't be surprised to see another one hit the buffers as well. Sad news.
The airline is separate - yeah?
Don’t think it is sadly.
I think the shareholders should have to pay the balance of the repatriation costs rather than the taxpayer. As shareholders are the owners of the company it is their responsibility to employ the right people to run the company hence the need for votes at the agm for executive and non executive roles on the board
I think the shareholders should have to pay the balance of the repatriation costs rather than the taxpayer.
The costs are already paid by previous travellers in an insurance fund :-
ATOL is able to provide this assistance by requiring ATOL holders to pay a fee for each traveller, which is held in a fund managed by the Air Travel Trust. This fund is used to refund, repatriate or reimburse travellers for the cost of repaying for the affected parts of their trip.
I guess the £4.5k they kept after I had to cancel my holiday hasn’t kept them going….
Cancelled due to 3 yo Daughter having serious brain injury (ADEM), they were buggers when I rang to cancel
So they stuck to their Ts & Cs and you claimed off insurance. Standard travel company stance tbh, wouldn’t hold it against them (has similar elsewhere when a family member died)
So they stuck to their Ts & Cs and you claimed off insurance.
You'd be amazed at how many people don't take out insurance 🙁
I've just booked a trip for nxt Febuary and haven't taken out a cancellation policy. But it was only £540 so can afford to self insure. I couldn't if it was a £4500 trip.
Hope your daughter is well JJ262 and you all get a holiday 👍
"You’d be amazed at how many people don’t take out insurance 🙁"
I'll put my head above the parapet and say it was embarrassingly recently it clicked for me that half the value in travel insurance was the cancellation part and it's best to buy at time of booking the holiday. I used to buy insurance in the days immediately before flying - I assumed I was buying 10 or so days insurance from date of purchase previously.
Hope your daughter's on the mend!
Will keep on happening, although things like brexit are having an effect, why would you bother with a package company when you can do it all online independently. I'm surprised so many have lasted this long.
The airline is separate – yeah?
Not at the moment as said, but apparently it is a profitable bit so they are trying to separate it.
Even if they do the tour operator is the airline's biggest customer so whether the airline could survive without them is debatable, it would certainly have a massive impact with lots of redundancies
I think the shareholders should have to pay the balance of the repatriation costs rather than the taxpayer. As shareholders are the owners of the company it is their responsibility to employ the right people to run the company hence the need for votes at the agm for executive and non executive roles on the board
If you bought £1000 of Thomas Cook shares in Spring 2018 you would be sitting on £40 at the moment, which would fall to zero if they go bust. Shareholders take an absolute beating when companies go this way. I'm not sure how transferring extra liabilities on to shareholders would beneift anyone.
It's also a public LIMITED company. The Limited part denotes the liability of the shareholders and is what differentiates it from a sole trader or partnership.
That Standard Grade 3 for Economics finally paying its way!
A drop less kerosene burnt, I have mixed feeling. I feel sorry for the unfortunates stuck somewhere or losing the cost of the tickets, but every plane not flying is good news.
Brexit staycations then.
It is what they want after all, keep JonnyF out and UK Citizens in.
🤣💨💨💨💨
Sad to see a big company possibly going under hope it doesn't happen for the staff and customers sake.
Can you imagine the size of the interview panel if shareholders were responsible for employing the staff.
Now the cat is out of the bag, it seems collapse is even more likely, new bookings are going to plummet from today.
It has been on the cards for some time and I am surprised people have continued to book with them. We avoided using them when booking a holiday at the beginning of August (travelling in the third week of August) for that very reason. But I agree - I can't see them surviving this without a huge cash injection/buy out from their Chinese investors (their major shareholder I believe).
Now the cat is out of the bag, it seems collapse is even more likely, new bookings are going to plummet from today
They've been on the brink for some time, been in the Finance pages for weeks if not months...
Not at the moment as said, but apparently it is a profitable bit so they are trying to separate it.
The liquidator will sell of whatever bits it can, so that will probably survive.
but every plane not flying is good news.
People will just fly with someone else, there won't be an overall reduction in flights. But you know that don't you 😉
If they do go pop it will be the largest emergency repatriation effort since WW11 apparently
Did I miss world wars 3 to 10?
Seems like another market disrupted, pay more for a service with a rep onsite or pay less and dont receive that service, with the race to the bottom I guess most aren't.
Now the cat is out of the bag, it seems collapse is even more likely, new bookings are going to plummet from today.
It has been on the cards for some time and I am surprised people have continued to book with them.
They’ve been on the brink for some time, been in the Finance pages for weeks if not months…
Oh yeah! I'd forgotten that, and I suspect that other recent customers have too. Maybe one significant plummet has already occurred and that's adding to the problems now. My bosses wife is a finance director for them, (couldn't remember if it was Thomas Cook or TUI) apparently she's been pulling some long hours recently. 🙁
"I’ll put my head above the parapet and say it was embarrassingly recently it clicked for me that half the value in travel insurance was the cancellation part and it’s best to buy at time of booking the holiday. I used to buy insurance in the days immediately before flying – I assumed I was buying 10 or so days insurance from date of purchase previously.
Hope your daughter’s on the mend!"
Cheers Scruff! 🙂
She's getting there, hell of a scary time! I'm in the middle of sorting the travel insurance claim. It seemed crazy how after explain the situation (a week before due to fly), they were just "ok, the fee for cancelling is the full cost, thanks. bye!"
apparently she’s been pulling some long hours recently
Those documents won't shred themselves.
They have asked the government for a bailout.
This could be interesting.
Normally a Tory government would say **** off... But Boris seems a bit flush with cash in the run up to the election so we'll see..
Yeah, saying *could* it go insolvent within hours.
Bloody hell, not good.
Has anyone gone through the process of getting money back when a holiday company goes under? I'm due to be going to majorca on 13 October
Looking at alternatives I'm assuming if it all goes down the toilet there's going to be a big price hike as everyone does the same thing
If you paid by credit card you’ll be fine. Not sure about price hikes though as there will be a load of capacity in the hole left by the Thomas Cook bookings, except where they own the hotels.
I wonder how soon thomas cook pays the portion of the holiday to the individual hotels when its booked? There could be some bargain rooms around if the hotels have already received payment as they will be wanting to fill them again.
