Thomas Cook

Basic economics really; revenue must cover costs and margin. You may prop up this equation for a while by increasing debt, but if you don't address the fundamentals its goodbye, big or small.:rolleyes:
 
billz said:
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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The big error after Monarch was not insisting on the tour operators increase payments to Atol by 400%. Choice was theirs to stand cost or charge customers Absolutely no reason whyBritish Taxpayer paying for holiday costs for a firm whose largest shareholder is not even British. It seems like the taxpayer owned bank is owed a lot of money by this company
 
As Margaret Thatcher used to say it is good housekeeping. You cannot spend what you haven't earned.

Tony.
 
Real shame for people who have lost jobs, holidays etc

But this sort of problem doesn’t happen overnight !!
 
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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The prices went up by 10% whilst we were searching. Quoted a price, clicked on book now and 10% had been added. Basic economics of supply and demand but still smacks of profiteering!
 
Ianmc said:
Basic economics really; revenue must cover costs and margin. You may prop up this equation for a while by increasing debt, but if you don't address the fundamentals its goodbye, big or small.:rolleyes:
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Thats probably the underlying reason as to why now, isnt it. That £1b2 debt has stayed through the whole peak summer period. Now its the quieter colder months coming . . .

Still a shame though . . .
 
It is a real shame Alex, but, Horse - stable door springs to mind.

Tony.
 
Grumps said:
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.
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Not sure that we're broke mate, 5th largest economy in the World.
 
andyglym said:
Not sure that we're broke mate, 5th largest economy in the World.
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I know mate but they keep telling us otherwise. All our council ran flower borders and baskets are all just overgrown weeds, they've not sprayed our pavements this year so full of weeds just for starters as they have no money so the basics are now overlooked.
 
We do our own council path near our bungalow Alan cuts the grass, to keep it neat and tidy , otherwise the street will be a mess , think the council has only cut it twice this year . :p
 
Odd, isn't it @Grumps et al? This government have been telling us for years that there is no money, but suddenly Boris seems to have money for everything.=))
Re; Cook business I notice the boss pocketed 8 mill whilst failing to reorganize the business to take account of the way customers are buying holidays these days.Bad management rewarded again, but it's the workforce and customers who suffer.
 
Thomsas Cook announced £300 million of emergency funding from its banks in May 2019, and Chinese company Fosun International later added a £900 million loan.

Fosun refused a second £200 million cash injection on September 22, and the UK government declined to bail out the company.

Im glad our government showed common sense for a change.
 
They ought to do like the Capt. on the Titanic Pete if they had any self respect.

Tony.
 
Straight from Facebook :mad:
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Unbelievable. This is the modern world (The Jam?)

Tony.
 
Totally out of order, but quite shocking how many people will do it, even those who haven't booked anything!

The Nigerian lottery has been run like that for years! Don't need to be in it to win it!
 
Yup. Miss information and being economical with the truth via the various media outlets mate. Bad news sells, simples. Are we perfect? Nope but could be like The Republic of Ireland, Spain, Portugal and Italy, all goosed mate. The media are the parents and we are the child, if they tell the child that we are broke, poverty stricken and just plain thick then we'll believe it mate. I'd lay bets that your Council have all the funds they need but are cutting back in certain areas for Political gain mate, they all do it.
 
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