gunnerman
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 7:09 pm

When Monarch collapsed in 2017 with 110,000 people abroad, the government paid to get all of them home. It was alleged that this was done because the Conservative Party conference was being held at that time. The next conference begins on 29 September.
 
FlyingColours
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 7:47 pm

I've been keeping out of this but...

They've now asked the Government for "a bailout" - unless they are simply asking for the £200 million as a temporary loan for a few weeks they are toast, there is no way the government would do it and that's not even considering that the other airlines and tour operators would scream foul along with the EU - state aid remember- although Alitalia yeah yeah...

https://www.bbc.co.uk/news/business-49761464

Hope they pull through.

Oh and I've noticed the irony with my username...

Phil
FlyingColours
Lifes a train racing towards you, now you can either run away or grab a chair & a beer and watch it come - Phil
 
bananaboy
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 8:36 pm

Looking very bleak now.

"The hedge fund CQS has walked away from talks to provide urgent liquidity to the ailing travel company, Sky News learns."

https://news.sky.com/story/thomas-cook- ... e-11815380

Mark
All my life, I've been kissing, your top lip 'cause your bottom one's missing
 
Boeing74741R
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 8:36 pm

gunnerman wrote:
When Monarch collapsed in 2017 with 110,000 people abroad, the government paid to get all of them home. It was alleged that this was done because the Conservative Party conference was being held at that time. The next conference begins on 29 September.


A good conspiracy theory if it was true. It was undoubtedly due to the fact that there was an ATOL licence involved, so there was an obligation to provide repatriation flights regardless of the timing.
 
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RyanairGuru
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 9:02 pm

Boeing74741R wrote:
gunnerman wrote:
When Monarch collapsed in 2017 with 110,000 people abroad, the government paid to get all of them home. It was alleged that this was done because the Conservative Party conference was being held at that time. The next conference begins on 29 September.


A good conspiracy theory if it was true. It was undoubtedly due to the fact that there was an ATOL licence involved, so there was an obligation to provide repatriation flights regardless of the timing.


The "conspiracy" is that the brought ALL people home. Monarch sold a lot of seat only tickets (a lot more than TCX incidentally) and those passengers should not be repatriated by ATOL. I don't know about political interference but someone decided during the ZB collapse that trying to explain the subtleties of the ATOL scheme to distressed holiday makers yelling and/or crying at a TV crew in a foreign airport about how the government had stranded them was not worth the fight.
Worked Hard, Flew Right
 
behramjee
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 9:20 pm

Thomas Cook gives up hope of a private rescue deal - https://news.sky.com/story/thomas-cook- ... e-11815380
 
Olly2185
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 9:34 pm

Probably nothing, but all the MT flights at Birmingham will be parked on the remote stands tonight. Normally would be a few on contact stands.

Hoping for the best.
 
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OA260
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 9:43 pm

Rumor saying MT1107 is grounded at JSI as cant pay for fuel. Passengers stranded. Certainly something up as LGW showing next info 0900.
 
bananaboy
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 9:55 pm

OA260 wrote:
Rumor saying MT1107 is grounded at JSI as cant pay for fuel. Passengers stranded. Certainly something up as LGW showing next info 0900.


I believe the operating aircraft had to divert to Corfu and looks to be flying back to LGW.

Doesn't ZTH have a curfew? If it's missed that, it would have to be tomorrow morning.

Mark
All my life, I've been kissing, your top lip 'cause your bottom one's missing
 
eagles94
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:02 pm

OA260 wrote:
Rumor saying MT1107 is grounded at JSI as cant pay for fuel. Passengers stranded. Certainly something up as LGW showing next info 0900.


The aircraft diverted to Corfu due to weather, it’s on its way back to Gatwick now.
 
strfyr51
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:04 pm

Is Thomas Cook a US registered Airline Entity? I have never seen an N registered Thomas Cook Airliner.
 
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LuxuryTravelled
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:05 pm

OA260 wrote:
Rumor saying MT1107 is grounded at JSI as cant pay for fuel. Passengers stranded. Certainly something up as LGW showing next info 0900.


The flight diverted to Corfu, but has now departed and is heading back to Gatwick.
 
eagles94
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:22 pm

Olly2185 wrote:
Probably nothing, but all the MT flights at Birmingham will be parked on the remote stands tonight. Normally would be a few on contact stands.

Hoping for the best.


Stands 82, 81, 75, 76. All remotes.
 
Dispatcher9999
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:33 pm

OA260 wrote:
Rumor saying MT1107 is grounded at JSI as cant pay for fuel. Passengers stranded. Certainly something up as LGW showing next info 0900.


It’s rumours and lies like that that cause issues. It diverted to CFU due to weather in JSI. If you look through the day TCX had 5 JSI flights throughout the day all of which diverted. 3 managed to make it in 2nd attempt and then depart for home, while unfortunately the weather didn’t improve for the last 2 of which unfortunately one ended up in ATH and one in CFU.
 
CWL757
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:36 pm

If the worst happens, will smaller bases like CWL and BRS get repatriation flights each or will they get merged into one? For example, instead of two a320s flying TFS-CWL and TFS-BRS will they have both flights on one A330 and bus the pax from one airport to the other?
Last edited by CWL757 on Fri Sep 20, 2019 10:37 pm, edited 1 time in total.
A319, A320, 738, 743, 744, 752, 772, 788, C150, E175, E190, F70, R22
 
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VS4ever
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:37 pm

eagles94 wrote:
Olly2185 wrote:
Probably nothing, but all the MT flights at Birmingham will be parked on the remote stands tonight. Normally would be a few on contact stands.

Hoping for the best.


Stands 82, 81, 75, 76. All remotes.

It’s getting close to midnight, the key will be for those aircraft what happens to MT1248 which is due to
Leave for Palma at 0555 and MT1410 to Faro at 0605.

If nothing gets reported soon and folks start checking in for those 2 successfully in probably 2 1/2 hours or so for the early birds, then MT live to fight another day at least. If not, well we kind of know what that means sadly.
That feeling when you sit at the end of a runway, brakes are released and the raw power takes over. Now that is a thing of beauty and it never gets old.
 
Zyklotrop
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 10:57 pm

strfyr51 wrote:
Is Thomas Cook a US registered Airline Entity? I have never seen an N registered Thomas Cook Airliner.


Thomas Cook's aviation divison (Thomas Cook Group Airlines Ltd.) consists of 5 airlines (MT,H5,DK,DE,H3), which are all registered in European countries.
Last edited by Zyklotrop on Fri Sep 20, 2019 11:10 pm, edited 1 time in total.
 
FlyingColours
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 11:01 pm

VS4ever wrote:
eagles94 wrote:
Olly2185 wrote:
Probably nothing, but all the MT flights at Birmingham will be parked on the remote stands tonight. Normally would be a few on contact stands.

Hoping for the best.


Stands 82, 81, 75, 76. All remotes.

It’s getting close to midnight, the key will be for those aircraft what happens to MT1248 which is due to
Leave for Palma at 0555 and MT1410 to Faro at 0605.

If nothing gets reported soon and folks start checking in for those 2 successfully in probably 2 1/2 hours or so for the early birds, then MT live to fight another day at least. If not, well we kind of know what that means sadly.


Not wanting to add fuel to the fire but simply point out that with Monarch the two Ibiza flights were in the process of boarding, including the LGW-IBZ flight where passengers were literally on-board (but still boarding). when the flights were cancelled...

Anyway, I think they will survive the night at least. There is no cavalcade of aircraft positioning to the UK (or seemingly random TCX destinations) so it won't be tonight. Suggestions are that it's likely to go tomorrow night but again I don't buy into that.

On a personal note, I really don't know what is worse, not knowing et-al or this constant internet chatter. When I was at XL we didn't know a damn thing, there were murmurings of a takeover being imminent (with various names bandied about) and I distinctly remember hearing that Globespan were about to fold but it was us, I got the call in the middle of the night (I was sleeping after my 2nd early ahead of my flight from LGW-JSI) to say it was game over. We really didn't know until it happened.

I truly hope that they pull through, it's looking bleaker by the hour but miracles can happen :/

Phil
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Marksw76
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 11:19 pm

Any unusual aircraft being sighted yet?

Seem to remember UA and QR aircraft being drafted in a few days before the end of ZB
 
CWL757
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 11:22 pm

All aircraft landing at LGW seem to be going to gates as normal so there’s some hope.
A319, A320, 738, 743, 744, 752, 772, 788, C150, E175, E190, F70, R22
 
strfyr51
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 11:34 pm

Zyklotrop wrote:
strfyr51 wrote:
Is Thomas Cook a US registered Airline Entity? I have never seen an N registered Thomas Cook Airliner.


Thomas Cook's aviation divison (Thomas Cook Group Airlines Ltd.) consists of 5 airlines (MT,H5,DK,DE,H3), which are all registered in European countries.

Ah! Thank you. So exactly How are they seeking US Bankruptcy Protections? Are they filing Ch-11 or Ch-7 Bankruptcy? because I understood Europeans do not Have a Ch-11 reorganization code to fall back on,, Though I could be wrong..
I read where it was stated as such when United, and American filed CH-11 years ago.
 
davidjohnson6
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Fri Sep 20, 2019 11:50 pm

In the USA, Thomas Cook have filed for Chapter 15 bankruptcy. Rather than have a multi-jurisdiction bankruptcy with conflicting laws (i.e. what the bankruptcy judge says in the USA conflicts with the bankruptcy judge in the UK because the 2 countries have different laws), the idea is to defer all decisions to one single court, most likely in the UK. This does at least mean that all creditors get treated in the same consistent way and nobody gets an advantage by trying to use different laws to another creditor. There are of course rules about this (i.e. that the foreign country must have laws which obey certain norms) but the US courts generally recognise the UK legal system more than meeting the minimum required standards. As a company that is based in the UK and with operations primarily in a mix of the UK, Germany and Scandinavia, it makes sense that a judge making decisions on Thomas Cook should be based somewhere in Europe, using the laws of a country in Europe rather than the USA

Oddly enough, Thomas Cook have not filed for bankruptcy anywhere other than the USA. So one could argue they are bankrupt and they are not bankrupt, depending on which part of the world you are in.
 
CrawleyBen
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 2:31 am

CWL757 wrote:
All aircraft landing at LGW seem to be going to gates as normal so there’s some hope.


Yep, was all as expected when I left Gatwick at 02.30am this morning. I'm back on duty at the airport again at 12.30pm so will see if I can find anything out.,

Cheers

Ben
 
ShamrockBoi330
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 3:24 am

First flight of the day, MT406 just took off from Bristol at 4.14am so no issues for this flight today!
 
NWADTWE16
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 3:36 am

keep soldiering on MT!
I haven't been everywhere, but it's on my list!
 
sprite86
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 8:08 am

According to sky news, if the failure happens it will be Sunday night / Monday morning, but again its only rumour
if it does happen im guessing FOSUN will buy out of administration the parts it wants, e.g the tour operation. cook's will live on but in a much different form to now.
 
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SQ22
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 8:33 am

In the meantime there were reports in German media that X3 was (again) in talks with DE. It reads like this is for German business entities only, but it is not clearly mentioned. The article is also stating that they need a thrid partner for that and for this they are mentioning U2 and LH.

Link to article in German: https://www.handelsblatt.com/unternehme ... 9Ppvcb-ap5

I also found an article citing TUI that they have no interest in DE. It's behind a paywall, so I cannot read it.

Link to article in German: https://www.fvw.de/mobilitaet/kongress/ ... eck-203812
 
Humberclcl
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Thomas cook latest updates?

Sat Sep 21, 2019 8:49 am

Given that the news seems to change 10 minutes and the media like to push fear and click bait, can someone please answer these 3 questions?





1: Has Thomas Cook given up on trying to get a deal with private investors?
2: Will the UK gov bail them out?
3: If they can’t find this funding will they go bust before Monday?

Thanks

* some people may be interested to know I’ve head of unconfirmed reports the airline are putting all their aircraft into remote stands instead of jet bridges
 
eagles94
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 8:52 am

Looks like the HiFly A380 is on it’s way over. Whether it’s actually for Operation Matterhorn or not is a different story.


EDIT: It’s going to France.
Last edited by eagles94 on Sat Sep 21, 2019 9:18 am, edited 1 time in total.
 
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SQ22
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 8:56 am

I have changed thread title again in Thomas Cook Airlines News and Discussion Thread.
 
eagles94
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Re: Thomas cook latest updates?

Sat Sep 21, 2019 9:13 am

Humberclcl wrote:
Given that the news seems to change 10 minutes and the media like to push fear and click bait, can someone please answer these 3 questions?





1: Has Thomas Cook given up on trying to get a deal with private investors?
2: Will the UK gov bail them out?
3: If they can’t find this funding will they go bust before Monday?

Thanks

* some people may be interested to know I’ve head of unconfirmed reports the airline are putting all their aircraft into remote stands instead of jet bridges



1- Yes
2- No
3- Not necessarily Monday, but the chances of survival post October 1st look unlikely.
 
sbworcs
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 9:22 am

It's a difficult time and I hope for the best. Thomas Cook has been a feature on the high street of every place I have lived and it will be sad if it goes.

It must be an especially hard time for employees and customers. My sister and family are due to go an a package to Gran Canaria with them on 30th.
The best way forwards is upwards!
 
Dispatcher9999
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Re: Thomas cook latest updates?

Sat Sep 21, 2019 9:26 am

eagles94 wrote:
Humberclcl wrote:
Given that the news seems to change 10 minutes and the media like to push fear and click bait, can someone please answer these 3 questions?





1: Has Thomas Cook given up on trying to get a deal with private investors?
2: Will the UK gov bail them out?
3: If they can’t find this funding will they go bust before Monday?

Thanks

* some people may be interested to know I’ve head of unconfirmed reports the airline are putting all their aircraft into remote stands instead of jet bridges



1- Yes
2- No
3- Not necessarily Monday, but the chances of survival post October 1st look unlikely.



1-No
2-Still in discussions
3-There are still deals ongoing any out come is possible its 50/50 and does not look unlikely
 
f4f3a
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 9:52 am

I wonder whether it’s cheaper to let them go bust then people will buy which bits they want and leave the rest . Can some profitable companies rise out of the ashes ?
I think the chance of a government bail out loan is a long shot . They didn’t bail out The steel makers which was much more politically sensitive . However with an election likely in the not to distant future might be a cheap political win
 
Prost
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 9:55 am

Too any employees or customers on this board I really feel for you. These are some of the hardest times for employees not knowing if they’ll have a career next month, and if holidays will be cancelled.
 
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OA260
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 10:00 am

f4f3a wrote:
I think the chance of a government bail out loan is a long shot .


I dont think the government should bail them out as much as I will be sad to see them go. You then get into a situation where who decides what gets funding and what does not. Why not Monarch for example and who else going forward.
 
THS214
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 10:01 am

strfyr51 wrote:
Zyklotrop wrote:
strfyr51 wrote:
Is Thomas Cook a US registered Airline Entity? I have never seen an N registered Thomas Cook Airliner.


Thomas Cook's aviation divison (Thomas Cook Group Airlines Ltd.) consists of 5 airlines (MT,H5,DK,DE,H3), which are all registered in European countries.

Ah! Thank you. So exactly How are they seeking US Bankruptcy Protections? Are they filing Ch-11 or Ch-7 Bankruptcy? because I understood Europeans do not Have a Ch-11 reorganization code to fall back on,, Though I could be wrong..
I read where it was stated as such when United, and American filed CH-11 years ago.


In Europe its country specific. There are no EU CH-11 but some countries have something like US CH-11 some don't.

What makes this case complicated is that Thomas Cook has operation all over Europe. These news are about the parent company in UK. Basically it only affects their UK operations but if the parent company collapses then in might draw all their divisions to insolvency. Many different ATOLs come to play.
 
Ryanair01
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Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 10:05 am

RyanairGuru wrote:
Boeing74741R wrote:
gunnerman wrote:
When Monarch collapsed in 2017 with 110,000 people abroad, the government paid to get all of them home. It was alleged that this was done because the Conservative Party conference was being held at that time. The next conference begins on 29 September.


A good conspiracy theory if it was true. It was undoubtedly due to the fact that there was an ATOL licence involved, so there was an obligation to provide repatriation flights regardless of the timing.


The "conspiracy" is that the brought ALL people home. Monarch sold a lot of seat only tickets (a lot more than TCX incidentally) and those passengers should not be repatriated by ATOL. I don't know about political interference but someone decided during the ZB collapse that trying to explain the subtleties of the ATOL scheme to distressed holiday makers yelling and/or crying at a TV crew in a foreign airport about how the government had stranded them was not worth the fight.


I gather the CAA felt it was impractical to sift through (especially at foreign ports) who was/wasn't entitled to repatriation. Their strategy was that in practice it was smoother to try and fly Monarch's schedule, at which point you've got the aircraft and the seats so you might as well fill them with stranded people.
 
Haza22
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 10:05 am

Prost wrote:
Too any employees or customers on this board I really feel for you. These are some of the hardest times for employees not knowing if they’ll have a career next month, and if holidays will be cancelled.


Here here. Loosing an airline like Thomas Cook is heart breaking. (Iv been one of those employees from a collapsed airline). I really hope they pull through.
 
uta999
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 10:07 am

If it does collapse tomorrow, why doesn't the government step in with the administrators, and keep both aircraft and crew working to repatriate the 180,000 people abroad?

It must be cheaper paying the staff an extra couple of days / weeks, than the chaos that comes with these big events. All they need to do is guarantee the aircraft payments and insurance remain in place until a controlled shutdown in a week or two.
Your computer just got better
 
sprite86
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 10:40 am

just a though here but TC needs a £200 million buffer, but they have said they will not draw on it, its simply there if the worse ever happens , so couldn't they just like Norwegian put there Gatwick slots up as guarantee ?
 
Bongodog49
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 10:44 am

uta999 wrote:
If it does collapse tomorrow, why doesn't the government step in with the administrators, and keep both aircraft and crew working to repatriate the 180,000 people abroad?

It must be cheaper paying the staff an extra couple of days / weeks, than the chaos that comes with these big events. All they need to do is guarantee the aircraft payments and insurance remain in place until a controlled shutdown in a week or two.


When Monarch crashed, there was little if any chaos, the CAA charterted in replacement planes and everyone flew home on their original scheduled date. The reasoning for chartering in replacements rather than using the bankrupt airlines fleet is that there are a lot of potential problems, invariably the fleet is a mixture of leased and owned (but with finance owing) wityht he airline having failed the planes then revert to the ownership of the financiers, sometimes there are multiple loans for a single airframe, all of these would need to be contacted and a new deal signed before the aircraft could be operated. Then there is the supply of fuel, ground handling, catering etc, all the existing Thomas Cook suppliers will be left holding unpaid invoices and would want to see cash up front before providing any services at all. all it takes is one unpaid bill at an outstation and they are at risk of a local court order grounding a plane over unpaid bills.

In theory any supplier anywhere in the World ought to be able to receive a cast iron gurantee that any future services would be paid for, and be safe doing so. The reality however is that having been caught once, there is a degree of scepticism involved when someone who you've dealt with in good faith for a while says "don't worry you'll get paid" when you haven't been paid for what they've bought over the past three months
 
Bongodog49
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 10:51 am

sprite86 wrote:
just a though here but TC needs a £200 million buffer, but they have said they will not draw on it, its simply there if the worse ever happens , so couldn't they just like Norwegian put there Gatwick slots up as guarantee ?


The problem is that the financiers can see that the business model as it stands is unviable, all that another £200m buys them is time. Also how many LGW slots as security do the banks want to be holding ? Norwegian are struggling, their LGW slots are now being held as security by the bankers, if the same happened with Thomas Cook they would be worth less, as in the event of both failing thats two lots of slots on the market and any inrterested purchaser can play one off against the other. I'm also not sure just how valuable the Thomas Cook slot portfolio at LGW is, I know that some charter carriers at LGW operate flights in the early hours of the morning, a 4am slot is worth very little compared to peak day time.
 
flyjay123
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 10:58 am

f4f3a wrote:
I wonder whether it’s cheaper to let them go bust then people will buy which bits they want and leave the rest . Can some profitable companies rise out of the ashes ?
I think the chance of a government bail out loan is a long shot . They didn’t bail out The steel makers which was much more politically sensitive . However with an election likely in the not to distant future might be a cheap political win


If TC fails, sadly the biggest loser is the British tax payer to the sum of 600 million rescue costs + thousands of people unemployed and huge disruption to the travelling public!

However, Fosun will probably end up grabbing what its want off the administrators for far less than they are offering to inject today. And run a slimmed down more efficiant TC mark 2 tour operation. Win Win.

The Nordic operation is contributing profit so will continue as usual. Win win.

Lufthansa will probably jump on a Condor bargain. Win win.

A significant amount of the slimned down tour operation flying programme could potentially be taken over by LCC's, especially in the short term as we go into the quieter winter season. Win win for them.

The Thomas Cook brand will contiue on.... in ny opinion!
 
Ryga
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 11:05 am

CAA have estimated cost of repatriation is six times lower than reported.

(£100 Million, not £600m)

Source: https://twitter.com/itvjoel/status/1175 ... 39200?s=21
 
flyjay123
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 11:12 am

Ryga wrote:
CAA have estimated cost of repatriation is six times lower than reported.

(£100 Million, not £600m)

Source: https://twitter.com/itvjoel/status/1175 ... 39200?s=21


Still a lot of tax payers money!

Some cynical people (not me) might say let it fall, dump the debt .... and continue....
 
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Dano1977
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Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 11:35 am

flyjay123 wrote:
Ryga wrote:
CAA have estimated cost of repatriation is six times lower than reported.

(£100 Million, not £600m)

Source: https://twitter.com/itvjoel/status/1175 ... 39200?s=21


Still a lot of tax payers money!

Some cynical people (not me) might say let it fall, dump the debt .... and continue....



It's not taxpayers money though is it?

More information here
https://www.caa.co.uk/ATOL-protection/C ... bout-ATOL/
The average EU official - he has the organising ability of the Italians, the flexibility of the Germans and the modesty of the French. And that's topped up by the imagination of the Belgians, the generosity of the Dutch.
 
Andy33
Posts: 2498
Joined: Tue Sep 15, 2009 9:30 am

Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 11:52 am

uta999 wrote:
If it does collapse tomorrow, why doesn't the government step in with the administrators, and keep both aircraft and crew working to repatriate the 180,000 people abroad?

It must be cheaper paying the staff an extra couple of days / weeks, than the chaos that comes with these big events. All they need to do is guarantee the aircraft payments and insurance remain in place until a controlled shutdown in a week or two.


That would be illegal in the UK, unfortunately. The CAA is required to pull the AOC of any airline in administration or in process of liquidation. But in other countries in Europe it would be legal though and may happen. It would take an Act of Parliament to change the law in the UK. In theory this would be possible in a day, with co-operation from everyone, if only the Prime Minister hadn't shut down Parliament until October.
 
sprite86
Posts: 9
Joined: Fri Mar 22, 2019 10:08 am

Re: Thomas Cook Airlines News and Discussion Thread

Sat Sep 21, 2019 12:26 pm

The latest from travel weekly

http://www.travelweekly.co.uk/articles/ ... peculation

the board of TC is meeting tomorrow (Sunday 22nd) they are still trying to find a solution to the £200 million problem but its looking like administration is now highly likely.
 
User avatar
par13del
Posts: 9198
Joined: Sun Dec 18, 2005 9:14 pm

Re: Updated: Thomas Cook Files for U.S. Bankruptcy Protection

Sat Sep 21, 2019 12:30 pm

readytotaxi wrote:
Very much agree, you take out travel insurance to cover your trip unless you are stupid, why should the system have to cover stupid for no extra cost? If they don't learn the lesson they will keep putting their hand in the fire.

If your government using your taxes is going to pick up the cost, why pay twice?
Just saying there is a flip side.

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