Topic Author
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Thomas Cook AGM On 29th May 2012

Mon May 21, 2012 11:12 pm

There are three resolutions;

1.Sell HCV to Iberostar.

2. Sell and lease back 11 Condor B757 and 2 Thomas Cook UK B767 to Guggenheim

3. Sell and lease back 6 Condor B767 to Aircastle.

1. Not sure what HCV is.

2/3 Sale and lease back will release cash. It may cost more long term. However, in the long term we will hopefully get B787.

Sounds like a good plan, what do you think?.
Posts: 362
Joined: Sun Aug 15, 2010 7:13 am

RE: Thomas Cook AGM On 29th May 2012

Mon May 21, 2012 11:35 pm

HCV is a holding company that runs some hotels and resorts. From Thomas Cook website:

"Thomas Cook Group plc (Thomas Cook) is pleased to announce today that it has reached agreement to sell its interest in Hoteles Y Clubs De Vacaciones S.A. (HCV) to IBEROSTAR Hoteles y Apartamentos S.L. (IBS), the hotel division of Grupo IBEROSTAR. HCV is a holding company that, together with another shareholder, indirectly owns five Spanish hotels and one golf club as well as operating a second golf club in Spain."

From what I hear, the TC Group are quite short of cash while relatively solid with assets so this might be a good idea for them indeed. Let's hope they can pass the resolutions and put it to good use!  
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