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May this is very best for the future and we will always appreciate notices.
A disaster waiting to explode,the CAA should if they are happy with Thomas Cook finances reassure everybody that there is nothing to worry about otherwise they should close it down now before the proverbial ---- hits the fan.
Maybe they should rename JMC again!
Sell the airline , use the money to settle down debt, sign a long term seat supply contract which will provide higher seat rates than previously. Result uncompetitive holiday prices resulting in further financial poor results and the downward spiral continues .Radical work needs to actually be done ( rather than talking about it ) to get costs down and margins up .
This IS going to be another Monarch in the makeing just wait and see trying to go far to big with the setting up of new HOTELS and the fact that they want to SELL the Airline why would Customers choose to book with TC when all this is going on the main stream Media should be highlighting this regarding Cook and warn its Customers , the CAA should also be taking strong action to see if Cook can carry on the way it is right now.
Another made up load of drivel from the troll.
TC Group turned over 9.6B and posted profits of 291M (accounts filed 30 Sep 2018)TC UK posted 137.3M turnover and a LOSS of 58.6M on their last posted accounts
TC Airline posted 1.2B turnover and 405.8M profit on last posted accounts.
So, GROUP profitable, Airline profitable, UK Arm lost 58.6M.
Happens, get over it
You need to go back to School.They have potentially broken their financial covenants this is a serious matterThe Airline sells the majority of their capacity to their own in house Tour Operators they are not a scheduled Airline so their profit is made up of transfer pricing and means nothing if the Tour Operator cannot fill seats ata profit based on a inflated selling price from the AirlineThomas Cook is in the same position as Debenhams where debt has been converted to equity and the share holders and Stakeholders have been wiped out - This is a likely scenario for Cook too.Their debt pile is out of sink and the market is on its knees and theirfinancial headroom will be squeezed further by lower yield than BudgetedWe have seen TUI react by early discounting and it will get more aggressive as Jet2/Ryanair/Easy react to putting bums on seats..The market is going to be very late this year and a warm predicted Ester is not what was required to bolster sales.There will be substantial failures this year in this sector.We are entering the perfect storm ..rising fuel prices a weak £ and excess capacity with low demand due BREXIT and general apathy prevailing this year at least.
Learn to spell, it's embarrassing Steve! Yet again your unbridled commentary on something you know nothing about is warmly received! (and instantly disposed of)
Why troll Steve?Comment on the story - Our Grandfathers and Fathers battled in two WWsto protect freedom of speech , though how we are weak at the knees now at BREXIT is a huge concern and am sure causing many to turn in their graves.
Why does it matter if Steve is involved or not in the Industry having a customers view point is a good thing know one likes to see bullying.
How much incompetency is enough ?Surely with the endless profit warnings and other mess ups their investors will demand change at the top that will dictate a new strategy and direction for this business.in effect the Business is in a financial melt down.It amazes me that top executives after the Corfu deaths and then all the financial mess upsfrom John Donaldson and Nigel Hards and his cronies and then Manny F and his people(many still in place) Harriet G etc.. who was clueless and so on and so for.None of these individuals have been held to Account for the mess they have caused and all have walked away with handsome payouts when the business is on its knees.
Selling the Airline is a absolute white wash know one in their right mind would buy this unless it was a well versed constructed sham deal
The UK CAA should be looking closely at their free asset position and asking themselves why they renewed their ATOL license
Agreed Philip. It is a disgrace that A – these people got away with it (and in some cases still work in senior roles within travel!) and B – there is no way to claw back some of the many millions paid in bonuses.
Whilst some of TCs challenges are self-inflicted, and for that the current management must take some responsibility, a lot is driven by a horrific debt pile which is a hangover from years of mismanagement and poor decision making going back 10+ years!