virgincrew
Topic Author
Posts: 420
Joined: Sun Oct 03, 2004 1:40 am

Thomas Cook Sells Aircraft To Raise Cash

Fri May 11, 2012 12:55 pm

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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JRadier
Posts: 3943
Joined: Mon Sep 27, 2004 11:36 pm

RE: Thomas Cook Sells Aircraft To Raise Cash

Fri May 11, 2012 2:06 pm

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.
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planesailing
Posts: 563
Joined: Wed Jul 20, 2005 4:57 am

RE: Thomas Cook Sells Aircraft To Raise Cash

Fri May 11, 2012 2:31 pm

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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