Thomas Cook going bump.

Thomas Cook going bump.

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Discussion

KungFuPanda

Original Poster:

3,338 posts

118 months

Friday 20th September
quotequote all
So what are your thoughts?

Media speculation or are they really in trouble.

Booked two weeks in Cuba with them to go next month. I suppose if they go, I’ll get a refund from ATOL and have to rebook elsewhere.

Chucklehead

2,105 posts

156 months

Friday 20th September
quotequote all
They're 100% in trouble, there is no doubt of that. It's just whether funding comes through quickly enough for them to survive.

VAGLover

918 posts

26 months

Friday 20th September
quotequote all
Don’t just book it, Thomas Cook it!

VAGLover

918 posts

26 months

Friday 20th September
quotequote all
Chucklehead said:
They're 100% in trouble, there is no doubt of that. It's just whether funding comes through quickly enough for them to survive.
After this, funding aside, who will keep booking with them?

Seventy

2,087 posts

86 months

Friday 20th September
quotequote all
VAGLover said:
Just don’t book it, Thomas Cook it!
EFA.

CAPP0

15,549 posts

151 months

Saturday 21st September
quotequote all
VAGLover said:
Seventy said:
VAGLover said:
Just don’t book it, Thomas Cook it!
EFA.
EFA?
Took me a minute!

alfabeat

240 posts

60 months

Saturday 21st September
quotequote all
Requested financial assistance from the UK government. Need £200m bail out now.

Seeing as the cost to the Government in assisting in the fallout if they fail, will far surpass this, it seems a no brainer to me.

GT03ROB

8,070 posts

169 months

Saturday 21st September
quotequote all
I think the concept of the high street travel agent is dead. I wander past them & sometimes wonder who actually uses them these days.

When I purchase travel nowadays it's all online, I look at hotels, have tripadvisor open at the same time, flicking through the hotels online & on TA at the same time. I just don't see what value a high street agent brings anymore

alfabeat

240 posts

60 months

Saturday 21st September
quotequote all
I think they are much bigger than just the high street retail outlets. They have a large online presence.

I agree though, the high Street outlets surely must go following (hopefully) a financial restructuring.

GT03ROB

8,070 posts

169 months

Saturday 21st September
quotequote all
alfabeat said:
I think they are much bigger than just the high street retail outlets. They have a large online presence.

I agree though, the high Street outlets surely must go following (hopefully) a financial restructuring.
I think you are right, but I thought it was the high street stores that were burning cash faster than they could earn it.

xx99xx

458 posts

21 months

Saturday 21st September
quotequote all
GT03ROB said:
I think the concept of the high street travel agent is dead. I wander past them & sometimes wonder who actually uses them these days.

When I purchase travel nowadays it's all online, I look at hotels, have tripadvisor open at the same time, flicking through the hotels online & on TA at the same time. I just don't see what value a high street agent brings anymore
A friend owns an independent travel agent. Been open for about 10 years and they've just opened a 2nd shop in another town. Their business is certainly booming. They don't even have a website.

I don't get mates rates (they are cheap enough as it is) but I will always book 'foreign' holidays through them as you can tell them exactly what you're looking for and they will do the searching for you, without you having to ever go into the shop. I've found they either get the same rates as you can find yourself online (although they can often get better hotel rooms, free transfers etc thrown in) or they're cheaper than the mainstream websites.

If it's just the odd night, weekend or mini break in the UK though I will do that myself online.

egor110

12,073 posts

151 months

Saturday 21st September
quotequote all
alfabeat said:
Requested financial assistance from the UK government. Need £200m bail out now.

Seeing as the cost to the Government in assisting in the fallout if they fail, will far surpass this, it seems a no brainer to me.
Why ?

Surely the abta insurance policy will kick in and cover the costs of flying customers home and people who haven't left yet won't actually fly out .

drmcw

164 posts

40 months

Saturday 21st September
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I believe if you book flight only then ABTA/ATOL doesn't cover you. I think Thomas Cook sell a lot of flight only.

yellowbentines

4,249 posts

155 months

Saturday 21st September
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From a selfish point of view, I hope to find out which way things are going sooner rather than later.

We've booked flights only (should be covered by CC) departing Oct 1st, which is also the day their licence is up for renewal.

If they go belly up we'll just book with another carrier, but until they do, our booking is valid and they have our money so there's no point in shelling out for flights we might not need.

Its definitely taking the shine off the the pre-holiday anticipation and excitement!

peterperkins

2,296 posts

190 months

Saturday 21st September
quotequote all
alfabeat said:
Requested financial assistance from the UK government. Need £200m bail out now.

Seeing as the cost to the Government in assisting in the fallout if they fail, will far surpass this, it seems a no brainer to me.
Def should not give them our 200 million. Where does it stop?
Next year rinse and repeat need another bailout.

What about the 200 million we gave you last year?
Sorry spent it on moving my drinks cabinet six inches nearer my desk in the CEO office.



Glasgowrob

2,546 posts

69 months

Saturday 21st September
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You do wonder if it hadnt been reported in the media whether they would survive

Problem is the last few days it's been all over the press and no one is going to book a thing with them so short term cashflow is gone

9 billion turnover is what £25 million a day

Id imagine that's halved easily the last few days piling extra pressure on

alfabeat

240 posts

60 months

Saturday 21st September
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The department of transport are apparently mobilising a huge team all over the world to help with the repatriation. The government themselves say that it will cost £600m.

If it wasnt a package holiday, I think the flight only element doesn't get covered.

A £200m loan on commercial terms, seems like a reasonable gamble to me.

VAGLover

918 posts

26 months

Saturday 21st September
quotequote all
They are well and truly done
https://apple.news/ANzCV3jPOTQK9X554nH3PVQ

Heaveho

2,038 posts

122 months

Saturday 21st September
quotequote all
Halfway through a week in Crete now, and meant to on a TC flight home on Tuesday. Doubt that's now an option. Paid by CC, and have insurance, so could be worse, but given the limited options for alternatives, still a ballache to find a way out now. I'm cynically imagining all other operators will now increase their prices knowing what's likely to happen.

VAGLover

918 posts

26 months

Saturday 21st September
quotequote all
Heaveho said:
Halfway through a week in Crete now, and meant to on a TC flight home on Tuesday. Doubt that's now an option. Paid by CC, and have insurance, so could be worse, but given the limited options for alternatives, still a ballache to find a way out now. I'm cynically imagining all other operators will now increase their prices knowing what's likely to happen.
Is it a package holiday? And if so by whom?