Thomas Cook going bump.

Thomas Cook going bump.

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Discussion

hepy

426 posts

88 months

Sunday 22nd September
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Glasgowrob said:
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
To be fair, the news they are struggling has been in the media for months if not over a year. Most people have an attitude that if they perceive it to be a ‘big’ company, it will never fail.

VAGLover

918 posts

26 months

Sunday 22nd September
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In light of their challenges. I wonder who actually booked with them? Interesting to see how or why they discounted the risk of failure.

I know ATOL protected etc. But that’s not a smooth and seamless process. And if you believe the newspapers, most people if stranded for more than a day will die.

wazztie16

784 posts

79 months

Sunday 22nd September
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Mum and her fella are currently abroad with TC, they'll find out over the next couple of days what's happening about their return flight for later this week.

They had trouble with the hotel on the last holiday, and me and a friend flew with Ryanair end of August, luckily the strike for our flight home didn't affect us, as they ran a full service, but the concern was there.

Not been a good couple of months really!

mattyprice4004

216 posts

122 months

Sunday 22nd September
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I’m flying with them to LA next month - with only 12 seats out and 16 back free with another airline, I’ve bottled it and bought alternative flights.

My thoughts are with all employees, a lot of who are ex Monarch / Primera.

Heaveho

2,036 posts

122 months

Sunday 22nd September
quotequote all
stevemcs said:
Who plans a holiday and only takes enough medication for 6 days .....

.
I do when I have to be back one way or another on time regardless of that. Whether TC was going under or not and regardless of whether or not I was taking something medical, I will be have to be back in the UK no later than Wednesday. It's not impossible, and, as it turns out, it's been pretty straightforward.

borcy

796 posts

4 months

Sunday 22nd September
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I think I'd always take extra medication, you might well loose or drop/damage the medication, regardless of airline issues.

Scabutz

2,197 posts

28 months

Sunday 22nd September
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They have been around for years, why suddenly now are they so deeply in the st?

Probably answering my own question here but I've not been into a travel agents for about 20 years. Book everything online either direct or via Expedia and the like.

Is it just that, failing to adapt to a changing market?


borcy

796 posts

4 months

Sunday 22nd September
quotequote all
Scabutz said:
They have been around for years, why suddenly now are they so deeply in the st?

Probably answering my own question here but I've not been into a travel agents for about 20 years. Book everything online either direct or via Expedia and the like.

Is it just that, failing to adapt to a changing market?
I think they tried to expand a while back and bought into things like coop travel and paid a lot for them. Think they've been in debt for some time , all come to a head this year.

ukaskew

5,352 posts

169 months

Sunday 22nd September
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VAGLover said:
In light of their challenges. I wonder who actually booked with them? Interesting to see how or why they discounted the risk of failure.
My folks have recently booked two holidays with them, one leaves this Wednesday, maybe. My sister has booked for next March and my colleague has booked two with them next year.

In two of those cases it was hotel driven, Thomas Cook were the only company offering the particular hotels they wanted. I don't think it crossed any of their minds, if the recent bookings, but I imagine most people have holidays booked well in advance so hard to predict what might happen 12 months later.

If everyone stopped booking at the slightest hint of trouble in the media no company would survive.

We've always used TUI/Thomson for package holidays so lucky in that respect, I'm sure many many people have used Thomas Cook for decades.


Edited by ukaskew on Sunday 22 September 21:28

VAGLover

918 posts

26 months

Sunday 22nd September
quotequote all
ukaskew said:
VAGLover said:
In light of their challenges. I wonder who actually booked with them? Interesting to see how or why they discounted the risk of failure.
My folks have recently booked two holidays with them, one leaves this Wednesday, maybe. My sister has booked for next March and my colleague has booked two with them next year.

In two of those cases it was hotel driven, Thomas Cook were the only company offering the particular hotels they wanted. I don't think it crossed any of their minds, if the recent bookings, but I imagine most people have holidays booked well in advance so hard to predict what might happen 12 months later.

If everyone stopped booking at the slightest hint of trouble in the media no company would survive.

We've always used TUI/Thomson for package holidays so lucky in that respect, I'm sure many many people have used Thomas Cook for decades.


Edited by ukaskew on Sunday 22 September 21:28
You can book direct to hotels?


ukaskew

5,352 posts

169 months

Monday 23rd September
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VAGLover said:
You can book direct to hotels?
Yep, but many won't/don't even consider that option for all-inclusive type beach holidays (ironically partly because by default you have better protection with a package).

And in any case for many destinations (particularly from regional UK airports) you'd need to fly with Thomas Cook/Tui etc anyway. We're in the south west so tend to use Exeter, Bristol or Bournemouth if possible, we've never made it pay and be as convenient to fly with Easyjet, pay for transfers and book the hotel seperately.

ukaskew

5,352 posts

169 months

Monday 23rd September
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Well it's happened.

My folks are on Easyjet flights with a Thomas Cook package, radio silence from Easyjet at the moment as to what happens.

Due to fly out tomorrow.

48k

5,876 posts

96 months

Monday 23rd September
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Info on the various scenarios and resolutions here: http://thomascook.caa.co.uk

The Mad Monk

5,988 posts

65 months

Monday 23rd September
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Tui reckons that Thomas Cook have been spending too much money on bricks and mortar on the High Street.

davek_964

6,228 posts

123 months

Monday 23rd September
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ukaskew said:
Well it's happened.

My folks are on Easyjet flights with a Thomas Cook package, radio silence from Easyjet at the moment as to what happens.

Due to fly out tomorrow.
My g/f was due to fly with TC on Wednesday (in a group booking of 28). She booked an alternative ticket yesterday (with Easyjet) which she tells me is still OK. However - half a dozen of her friends also booked alternative flights over the weekend (I assume with Easyjet) - and then notifications that they were cancelled - and had to book flights again.

I'm guessing that over the weekend, bookings with EJ have basically been on planes that were mostly full of TC customers - and now TC have gone pop, those flights have been cancelled and even the non-TC customers find they have no flights. Ironic that her friends booked alternative flights to be safe - and it seems probably still ended up on TC flights.

Sheepshanks

18,614 posts

67 months

Monday 23rd September
quotequote all
ukaskew said:
VAGLover said:
You can book direct to hotels?
Yep, but many won't/don't even consider that option for all-inclusive type beach holidays (ironically partly because by default you have better protection with a package).

And in any case for many destinations (particularly from regional UK airports) you'd need to fly with Thomas Cook/Tui etc anyway. We're in the south west so tend to use Exeter, Bristol or Bournemouth if possible, we've never made it pay and be as convenient to fly with Easyjet, pay for transfers and book the hotel seperately.
TC owned a bunch of hotels - I don’t know but would imagine the only way to book those would be as part of a package.

GSalt

246 posts

37 months

Monday 23rd September
quotequote all
stevemcs said:
Who plans a holiday and only takes enough medication for 6 days .....
When the NHS rules insist that GPs only prescribe 28 days of medication at a time, regardless of the fact you'll be on the same medication for the rest of your life, it can be a juggle.

I do manage to get three months worth of prescriptions in one go on occasion by insisting I'd be traveling around the time a 28 day prescription would run out. But unless you've an extremely understanding GP you probably only get one shot at this per year - and many people will have been pulling that one around the end of March this year and hoping to try again for October.

Unless you're on life-long daily medication you have no idea how awkward the prescribing system can be to navigate to get what you need when you need it.

El stovey

29,027 posts

211 months

Monday 23rd September
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Kiribati268 said:
Shame to see it happen. Sad to see it when Monarch folded, an icon of travel gone but after a week everyone forgot what happened. With all the press about the difficulties it almost confirms their fate. If it wasn't reported in the news then things might be alright.

They have been struggling for months and months now, working in the industry their finances are widely known. They have tried desperately to tap into long haul and have it subsidise the short haul/package side. It has only bought them some time and completing with the likes of Virgin, it hasn't worked.


Markets have changed and it's a long way down the line before companies feel it. I could walk into a Thomas Cook on the high street, pick something out of the brochure and pay a £(£££?) picked out of the air. Not really knowing what I am buying.

Or, easyjet, trip advisor and book the hotel with the best reviews, unlimited personal research, tailored to exactly what you want, online with a few clicks and can compare all the prices at your own leisure. No brainer really. Price and (less so) convenience trumps everything, this is why ryanair are thriving and companies like Thomas Cook are swimming to stay afloat.
The difference is the ABTA and ATOL protection that Thomas cook etc gave and will look after you much better than Ryanair. Remember the iceland volcano or other problems like fog or technical problems and easyJet and Ryanair just cancel the flight and you’re on your own. Thomas cook and Tui jet2 etc were chartering cruise ships etc to get people home again.

You’re probably happy to get yourself (and your family) home or around when flights get cancelled but others prefer that protection.

Thomas cook haven’t failed because the market for that business model has gone, travel companies actually have changed hugely over the last decade and make most of their sales online. The physical shops are much reduced and made money through enough people wanting to A) use them and B) Pay in cash. Thomas Cooks failure is mainly because they were carrying so much bad debt from my travel and made some bad managerial decisions. Bookings are also down with good weather and brexit. Most airlines are suffering at the moment and Ryanair and Norwegian etc certainly aren’t thriving.

There’s been massive overcapacity in this sector for years. Monarch and Thomas Cook were, unfortunately for them, simply the least able to cope.

El stovey

29,027 posts

211 months

Monday 23rd September
quotequote all
The Mad Monk said:
Tui reckons that Thomas Cook have been spending too much money on bricks and mortar on the High Street.
I wonder if Tui will be buying up or expanding into much or any of Thomas cook’s business or brands, some of it must have been profitable?



speedyguy

4,187 posts

151 months

Monday 23rd September
quotequote all
Scabutz said:
via Expedia
Have the Advertising standards authority not shut down yet ?

I tried them a few years ago to book a weekend break and EVERY time you clicked the book now it/they upped the price from the advertised headline price.
Looking to book exactly the same trip on a different computer, day, time, week, etc no cookies and they always advertised the same low headline price then bumped it.
Never used them since.

Very sharp if not shady/illegal practice?