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Thomas Cook Sells Aircraft To Raise Cash  
User currently offlinevirgincrew From United Kingdom, joined Oct 2004, 422 posts, RR: 1
Posted (2 years 2 months 2 weeks 4 days 21 hours ago) and read 5654 times:

Thomas Cook has agreed to sell and lease back 17 of its aircraft to raise £183 million to strengthen its financial position.

http://www.travelmole.com/news_featu...ews_id=2001435&c=setreg®ion=2

I personally think this is a great way to inject cash and save on aircraft maintenance costs etc....

I really hope Thomas Cook comes through this, I think they got too big too soon, i.e. My Travel & Co - Op etc...


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2 replies: All unread, jump to last
 
User currently offlineJRadier From Netherlands, joined Sep 2004, 4670 posts, RR: 50
Reply 1, posted (2 years 2 months 2 weeks 4 days 20 hours ago) and read 5354 times:

Quoting virgincrew (Thread starter):
I personally think this is a great way to inject cash and save on aircraft maintenance costs etc....

It is a sale and lease-back solution, so it won't matter on maintenance costs (that still has to be done by the airline) and is a financial matter only. Basically what happens is that Thomas Cook gets cash free on hand against (most likely) slightly higher ownership costs in the future. Considering the financial position of the company probably a very good idea, although it remains to be seen how fast they burn through this money.



For once you have tasted flight you will walk the earth with your eyes turned skywards, for there you have been and ther
User currently offlineplanesailing From United Kingdom, joined Jul 2005, 816 posts, RR: 0
Reply 2, posted (2 years 2 months 2 weeks 4 days 19 hours ago) and read 5250 times:

How does this affect those that already have financial agreements in place for secured loans as these aircraft are a good asset to recover money against should the worst happen.

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