Thomas Cook

Shelly

Shelly

Zorg Expert (I)
Supporter
British Zeds
East Anglian Crew
Joined
Jul 9, 2013
Points
201
Location
Norfolk
Model of Z
Z4 2.0 20i M Sport sDrive
How sad that Thomas Cook has gone into Liquidation.......
All those poor people have lost their jobs :(
I do feel for them all ......
Hope they can all get other Jobs .
 
Agreed Shelly. A friend of mine worked in the local shop for them, no work for her today.
 
Strange that the banks involved are so quick to for close when they were helped out by us to get them out of the sh*t so recently
 
Very sad for those that who are losing jobs and those losing holidays.

Meanwhile, TUI must be rubbing their hands as they are now the only package holiday company left in the UK. We have been looking at booking a holiday in the next few weeks and their prices have already gone up from what they were last week!
 
Should the UK government have stepped in with a temporary loan of £250m? Some reports say it was £150m. It’s going to cost £100m to repatriate TC customers.
 
Sorry, can't see why public money should be used to prop up a private company? Also how did they get into a situation requiring a £2,000,000 bail out before something was done?

Tony.

ps. We also have friends directly employed by Thomas Cook and feel sorry for them. It will possibly affect our rental home too as some are bound to be flying TC. and will come asking for their non-refundable deposits back.
 
ktnez99 said:
Should the UK government have stepped in with a temporary loan of £250m? Some reports say it was £150m. It’s going to cost £100m to repatriate TC customers.
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Basically are you asking should the government (who have no money , only the taxs they take off us and companys)come in and bail out any/every private company that gets in trouble. If it was to be a loan , what collateral did they offer that normal banks did not accept for the loan. the privale company have had a long period to raise the cash they needed.
An independant report a couple of years ago said the companies payments into Atol should be increased 400% but it never occured,it should have.

Dont forget the taxpayer has never got its money back after being so generous to the Royal Bank of Scotland that has now shut lots of its branches in England and Wales,while still paying out millions in staff bonus's.I joined Williams Deacons Bank in 1985 they become Williams & Glyns later taken over by Royal Bank of Scotland. Luckily I also have Santander accounts ---they still have local branchs in North Wales.
 
Agree re the contingency payment into Atol, but that would only have been passed down to the flying public. The Greens will soon get their wish of stopping people flying because soon no one will be able to afford it.

Tony.
 
t-tony said:
Agree re the contingency payment into Atol, but that would only have been passed down to the flying public. The Greens will soon get their wish of stopping people flying because soon no one will be able to afford it.

Tony.
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But if the Atol fund had been increased , and passed over to the customers ,it would save the bill coming back over to the general taxpayer , a lot of whom never use a holiday covered by Atol.
Flying--- Yes Unless you are in the Green Party whose leader seems to always be flying around the world , to save the enviroment.
 
Keet said:
Very sad for those that who are losing jobs and those losing holidays.

Meanwhile, TUI must be rubbing their hands as they are now the only package holiday company left in the UK. We have been looking at booking a holiday in the next few weeks and their prices have already gone up from what they were last week!
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We booked with TUI last week, as you say I suspect if I booked today i'd be paying more. We tend to book our own holidays usually anyway but last week's booking was for our 25th so wanted something different.
 
I think it’s an interesting question. TC is a heritage brand and as such, financial help albeit on a temporary basis would have been my preferred route forward.
I understand the sentiment about not bailing out all private companies which fall into financial difficulties but in this instance, something must be awry with the business model and therefore, strategic and financial help would have been a good injection into seeing TC weather this storm.
The government stepped in with the banks for which we, Joe Public, were forced into a never ending period of austerity while those heading up ops received annual cash bonuses.
In terms of the government having no money, it had a spare £1billion to seal a deal with the DUP, I recall and has a bottomless pit when it comes to the controversial HS2 project.
We will all have opinions on this for which I respect everyones right to.
 
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We’re booked with Thomas Cook for next year .....
Wonder how long it will take to get our money back ....
 
Grumps said:
We booked with TUI last week, as you say I suspect if I booked today i'd be paying more. We tend to book our own holidays usually anyway but last week's booking was for our 25th so wanted something different.
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It
Shelly said:
We’re booked with Thomas Cook for next year .....
Wonder how long it will take to get our money back ....
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Sorry to read this Shelly. I can't advise as I have no experience of such but perhaps someone else can shed some light on it for you.
 
We are ATOL protected so hopefully we will get our money back, I’ve looked on the internet for information but it says to look in a couple of days time ,
 
ktnez99 said:
I think it’s an interesting question. TC is a heritage brand and as such, financial help albeit on a temporary basis would have been my preferred route forward.
I understand the sentiment about not bailing out all private companies which fall into financial difficulties but in this instance, something must be awry with the business model and therefore, strategic and financial help would have been a good injection into seeing TC weather this storm.
The government stepped in with the banks for which we, Joe Public, were forced into a never ending period of austerity while those heading up ops received annual cash bonuses.
In terms of the government having no money, it had a spare £1billion to seal a deal with the DUP, I recall and has a bottomless pit when it comes to the controversial HS2 project.
We will all have opinions on this for which I respect everyones right to.
Click to expand...
What you also have to remember is that TC doesn't actually produce anything so the government wouldn't have anything to put the money against. At least when they got involved with the steel industry there was substance behind where the money was going. TC are just an agent, I don't know but I'm guessing the planes will be leased not owned so they won't really have any collateral to speak off.
I totally understand your sentiment with it being such an old company and the first ever travel agent but times are hard and as a country we are seriously broke.
 
I think we are all forgetting that the largest shareholder in TC (Fosun) is actually Chinese and not British, so any British Taxpayers money would be helping to support Chinese Shareholders.
 
christ.. do we own anything ?
 
Shelly said:
We’re booked with Thomas Cook for next year .....
Wonder how long it will take to get our money back ....
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Hi Shelly, we have also booked flights with Thomas Cook as part of a package for a villa holiday which is Atol protected so our deposits are safe, the villa company will be offering alternative flights or we can book our own and they will return our deposit for the flight part of our booking , other option is if paid by credit card you can claim it back
 
You would of thought that they would sit up and take note after Monarch collapsed but no lets just rack up 1.2 Billion dept and then see if we can get another loan. So even if they had got the 200 Million they would of still been ready for crashing they never adjusted to the market that is here and now. 600 shops (why) when most people book on line. Private Companies seem to amass a fortune in dept before they do anything about it.
 
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