Thomas Cook gone bust!

[Corranga]

They’re ABTA protected so customers will be covered. The hoteliers - who haven’t been paide for three months - and the staff, who won’t be. The latter have been sent home - it’s such a sad sight watching 1000 people leave.

Of course, you're right about the staff, however, ABTA protection won't take away the stress, inconvenience, and mental aspects of a ruined holiday - a holiday is much more than a financial outlay for a flight and hotel.

 

[redsonnylee]

This is a sad for TC, I’ve been to many F1 races with them over the years, the customer service in Singapore was amazing last year.

 

[zagatoes30]

Were they not the first travel agent? I think it was a QOD but now they have gone the same way as QOD - Sad

 

[midlifecrisis]

Were they not the first travel agent? I think it was a QOD but now they have gone the same way as QOD - Sad

Yes they were, but I'm sure someone else has arranged a trip for others before...but te continued. As for QOD, carry on unlike a company in administration it can be easily resurrected.

 

[jemgee]

I will never understand. They needed £150 or £200 mill to carry on. Caused by RBS demanding extra - yet the taxpayer funded the RBS bailout. Cost of ATOL repatriation £600 mill and CAA hiring aircraft in from other airlines. ATOL is funded by travel companies who back charge in their overheads to the customer ie us taxpayers. Ultimately if ATOL need the cash replacing guess who will cough for it.

Why not CAA fund all TC planes to fly punters back and go for an orderly run down and avoid huge admin costs

 

[Gazcw]

Bosses been paid £8m salaries for years etc... is it right?

CEO was 8 mill since 2014! And he has the Kahoonas to stand in front of cameras and say he is upset for his 21000 colleagues. Whilst smiling inside no doubt! And what's the betting some firm will employ him at similar pay in a few short weeks! C**k womble

 

[daverichardson]

Flight from Spain to Newcastle (one way) has gone up by £300 today

 

[rivarama]

Looking at the reaction of both the TUI and Easyjet shares today (both of which have lost over 40-50% the past 12months) - I can only imagine that the industry was in total over capacity, and that TC going under will help sponge that over capacity up.
“Bad management decisions” is only relative to what your competitors are doing...

 

[Wanderer]

TC have 34 planes, we (Aer Lingus) have 56, but we do more than that, we fix 'em too! Today in Hanger 6, Dublin. You never seen an Airbus on axle stands, Danny?

 

[CatmanV2]

Did someone nick the wheels?

One of my students does maintenance for Ryanair. Moving to BA in November

C

 

[Wanderer]

Did someone nick the wheels?

One of my students does maintenance for Ryanair. Moving to BA in November

C

Being replaced. They had a jet engine fired up on this truck thing outside our office window, freaking loud!

Aer Lingus is part of BA (IAG). Both my housemates here in Dubs are pilots (Captains) for Ryanair, and they are both 28. Feel old?

 

[Wattie]

Yup

Flight from Spain to Newcastle (one way) has gone up by £300 today

Apparantly flight only customers are not ABTA covered so they will need to re-book their flights.
Expect flight prices to rocket as a result...

 

[midlifecrisis]

I think some are confusing ABTA with ATOL. Association of British travel agents v Air Travel Organisers' Licensing. Its the latter that gets you home.
Anyway, I don't know why the CAA lease the Thomas Cook aircraft and crew to carry out the repatriations. They're currently stood still at Gatwick and Manchester doing nothing but accruing parking charges whilst the administrator works out which bottle of wine to order.

 

[2b1ask1]

Effectively the moment they are in receivership all assets are frozen, the planes have to be grounded and secured.

 

[CatmanV2]

Being replaced. They had a jet engine fired up on this truck thing outside our office window, freaking loud!

Aer Lingus is part of BA (IAG). Both my housemates here in Dubs are pilots (Captains) for Ryanair, and they are both 28. Feel old?

Daily......

C

 

[Wack61]

I watched that easyjet documentary, one of the co pilots looked about 16

 

[jonny]

receivership

Technically I think Thomas Cook is in compulsory liquidation rather than receivership. Assets being sold, no hope of rescue etc.

 

[philw696]

This is just Morally wrong in my mind and I think it is Criminal that people get wealthier this way.
Just my thoughts.

https://www.facebook.com/1813787276/posts/10211629191884714

 

[FIFTY]

Wow how much of that debt went towards just keeping the doors open and paying the top brass their bonus'

Let's face it there is no morality or sense of right and wrong in capitalism - if you have it then you are considered "less than" HOWEVER what has gone on here is poor management greed combined with lack of business acumin... You got to balance the books otherwise what's the point of even getting out of bed in the morning

 

[fcz360]

got back yesterday, managed to get to the airport - just, flown home by Titan airways, into brum which was OK for us. Lots of people who have to get buses to Gatwick, Manchester, and Glasgow. No guarantee that the luggage would get back (baggage handlers not paid), wouldn't put stairs to the plane when landed as no one had paid the ground staff... absolutely stupid, this must of cost 4 times the cost of keeping them going to repatriate people, even for two weeks and then close up. Good old UK government paying others a fortune, no fricken idea..... mid you directors all got multi-million bonuses so it's OK, staff don't matter do they. Bet the CEO is back home in Switzerland counting his money.

they were put into liquidation by the receivers through wind up orders.