Thomas Cook ceases trading; UK CAA launches giant programme to fly its customers home

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TLspotting
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Re: Thomas Cook ceases reading, UK CAA launches giant programme to fly customers home

Post by TLspotting » 22 Sep 2019, 21:59

Bloomberg : "The U.K. government signaled it won’t bail out struggling travel firm Thomas Cook"

And Alex Macheras says that Thomas Cook has ceased business, many hotel partners being in touch with it.

We try to get more info.
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Re: Thomas Cook on the verge of bankruptcy?

Post by TLspotting » 22 Sep 2019, 23:23

ITV confirms.

We should know more by 0200 BST (BBC).

Condor not impacted.
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Re: Thomas Cook on the verge of bankruptcy?

Post by luchtzak » 22 Sep 2019, 23:38

Where do you get 40 jumbos in such a short notice ? :roll:

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Re: Thomas Cook on the verge of bankruptcy?

Post by TLspotting » 22 Sep 2019, 23:50

An A380 of MAS made Kuala Lumpur - Manchester today.
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Re: Thomas Cook on the verge of bankruptcy?

Post by TLspotting » 23 Sep 2019, 00:00

TLspotting wrote:
22 Sep 2019, 23:50
An A380 of MAS made Kuala Lumpur - Manchester today.
Reports :

3 767 of Eastern Airlines
Qatar, Emirates and Omni Air International.

Both tbc.
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Re: Thomas Cook on the verge of bankruptcy?

Post by luchtzak » 23 Sep 2019, 03:27

Thomas Cook Group ceases trading with immediate effect; Manchester Airport detains aircraft

https://www.aviation24.be/airlines/thom ... -aircraft/

UK Civil Aviation Authority launches flying programme to bring home Thomas Cook customers

https://www.aviation24.be/airlines/thom ... customers/

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Re: Thomas Cook on the verge of bankruptcy?

Post by luchtzak » 23 Sep 2019, 03:33

From www.thomascook.com

Thomas Cook UK Plc and associated UK entities have entered Compulsory Liquidation and are now under the control of the Official Receiver.

The UK business has ceased trading with immediate effect and all future flights and holidays are cancelled.

A dedicated support service is being provided by The Civil Aviation Authority to assist customers currently overseas and those in the UK with future bookings.
Please visit:
www.thomascook.caa.co.uk
for further information.

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Re: Thomas Cook on the verge of bankruptcy?

Post by luchtzak » 23 Sep 2019, 04:42

The group's four airlines will be grounded and its 21,000 employees in 16 countries, including 9,000 in the UK, will be left unemployed.

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Re: Thomas Cook on the verge of bankruptcy?

Post by Ge203 » 23 Sep 2019, 07:51

It seems like TC Balearics is continuing to fly as well (for Condor).
Last edited by Ge203 on 23 Sep 2019, 08:00, edited 1 time in total.

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Re: Thomas Cook on the verge of bankruptcy?

Post by TLspotting » 23 Sep 2019, 07:58

+ AtlasGlobal
+ Tailwind.

Condor is still flying.

Balearics as well but only under Condor contract it seems (might be the same than Aigle Azur / TAP Air Portugal)...
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Re: Consequences of the looming Thomas Cook bankruptcy on Brussels Airlines

Post by sean1982 » 23 Sep 2019, 08:12

I think the impact might be quite big. I posed the question last week and got flamed by “passenger” that TCAB wasn’t going to go bankrupt. The only winner in this story will probably be TUI. People look for a recognizable brand they trust when booking a package holiday. A new company doesn’t really have that reputation yet. I like all the observations about load factors on SN’s O&D ops but they are quite irrelevant as they say nothing about their profitability. O&D has the biggest competition in Belgium with the low costs and TUI on the market. Question is “will it be profitable without TCAB buying a certain amount of seats regardless of whether someone will travel ?”

We all know TUI won’t use SN for extra capacity but will rather be looking into options to expand their own fleet.

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Re: Thomas Cook on the verge of bankruptcy?

Post by TLspotting » 23 Sep 2019, 08:33

Final flight MT2641 landed. Edit : Last flight is MT2643.
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Re: Consequences of the looming Thomas Cook bankruptcy on Brussels Airlines

Post by jan_olieslagers » 23 Sep 2019, 08:51

If Thomas Cook Belgium is failing, no doubt this will badly affect SN's future figures.
Like as not. But, as yet, officially, only the British branch discontinued operations. Belgian operations continue to run, sales offices ("shops") are open. And I heard media reports of a prospect of the German and Belgian branches, the former Neckermann, surviving, probably under a different name and/or ownership. Whether this is a realistic hope or only daydreaming remains to be seen.

[[edit: VRT news now announced that Thos Cook Belgium has suspended sales "until the situation becomes clearer". ]]
Last edited by jan_olieslagers on 23 Sep 2019, 10:03, edited 1 time in total.

telspace2005
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Re: Consequences of the looming Thomas Cook bankruptcy on Brussels Airlines

Post by telspace2005 » 23 Sep 2019, 08:58

Calm down.
Let's wait what Greta Thunberg is gonna say.
If she declares that air travels is polluting and add to climat changes, then, the bankruptcy of TC is a good thing. No more planes, less fossil combustion,... the paradise at the horizon.
Everybody will take his vacation in his backyard. That's it.

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Re: Brussels Airlines in 2019

Post by Jetter » 23 Sep 2019, 09:55

Passenger wrote:
15 Sep 2019, 22:40
What "near bankruptcy"? Because a few Belgian news sites copy an article in De Telegraaf today, with outdated information? Didn't you always reject what the MSM write?

Sure - Thomas Cook is going through stormy waters, with a high debt following them. Chinese group Fosun (already owner Club Med) has already bought 25%, and they are slow with the execution the rescue plan, agreed with the banks end of August (28th?). A bond meeting set for next Wednesday will probably be postponed because some bond holders object the Fosun rescue plan (debt changed into shares, making their assets less worth).

Relevant deadline is 30th Sept, when ATOL (UK) has to renew the insurance policy, covering passengers in case of bankruptcy.
Seems like the relevant deadline was a bit earlier than you told us. :shock:

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Re: Brussels Airlines in 2019

Post by PttU » 23 Sep 2019, 10:42

RoMax wrote:
22 Sep 2019, 12:28

- No: other tour-operators will absorb most of the volume, but they will be looking for planes (there is no TCAB anymore to take them from), so who will do what?
What happened to the A321's from TCB that went to VLM?

//edit nevermind: only A320's. According to wikipedia 5 of them: 2 to TC Baleares, 2 to SN, 1 to TC UK.

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Re: Thomas Cook on the verge of bankruptcy?

Post by Passenger » 23 Sep 2019, 10:44

Jetter wrote:
23 Sep 2019, 09:55
Passenger wrote:
15 Sep 2019, 22:40
What "near bankruptcy"? Because a few Belgian news sites copy an article in De Telegraaf today, with outdated information? Didn't you always reject what the MSM write?

Sure - Thomas Cook is going through stormy waters, with a high debt following them. Chinese group Fosun (already owner Club Med) has already bought 25%, and they are slow with the execution the rescue plan, agreed with the banks end of August (28th?). A bond meeting set for next Wednesday will probably be postponed because some bond holders object the Fosun rescue plan (debt changed into shares, making their assets less worth).

Relevant deadline is 30th Sept, when ATOL (UK) has to renew the insurance policy, covering passengers in case of bankruptcy.
Seems like the relevant deadline was a bit earlier than you told us. :shock:
If you would read what captain of industry Jan Peeters wrote/writes about this story, you would agree that I was spot on. I only copy/paste one phrase that proofs that it went wrong after my initial post(s):
Jan Peeters, Travel 360.be: ...Op donderdag 19/09 werd Thomas Cook plots geconfronteerd met de eis om een extra 200 miljoen € aan garanties op tafel te leggen, om "seizoensgebonden problemen" te voorkomen. Met name de Royal Bank of Schotland zou aandringen op een dergelijke extra garantie, voor - volgens een bron dichtbij de onderhandelingstafel "onverwachte scenario's zoals orkanen, terroristische aanslagen en dergelijke". Deze recente, onverwachte eis is maar één van de vele obstakels die het Thomas Cook team op de weg naar redding tegenkomt. En iedereen wil blijkbaar zichzelf voor 200% indekken...

Google Translate:
On Thursday 19/09, Thomas Cook was suddenly confronted with the requirement to put an extra € 200 million in guarantees on the table to prevent "seasonal problems". The Royal Bank of Scotland in particular would insist on such an additional guarantee, according to a source close to the negotiating table "unexpected scenarios such as hurricanes, terrorist attacks and the like". This recent, unexpected requirement is just one of the many obstacles that the Thomas Cook team faces on the road to salvation. And everyone apparently wants to cover themselves for 200%...
Apart from the above: Fosun, the Chinse investor who was seen as rescuer for Thomas Cook Ltd, already had 25% of the THC shares (some say 17%). And Fosun owns 100% of Club Med and Cirque du Soleil. So it was surprising for all involved that no solution was found.

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Re: Consequences of the looming Thomas Cook bankruptcy on Brussels Airlines

Post by sn26567 » 23 Sep 2019, 11:50

jan_olieslagers wrote:
23 Sep 2019, 08:51
[[edit: VRT news now announced that Thos Cook Belgium has suspended sales "until the situation becomes clearer". ]]
Thomas Cook Belgium maintains its activities, but temporarily stops selling new vacation packages as a precautionary measure.

https://www.aviation24.be/tour-operator ... ctivities/
André
ex Sabena #26567

Passenger
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Re: Thomas Cook ceases trading; UK CAA launches giant programme to fly its customers home

Post by Passenger » 23 Sep 2019, 13:45

Thomas Cook Group PLC (UK) has filed for bankruptcy. Thomas Cook Belgium nv/sa (= THCB nv/sa), with trading names Thomas Cook and Neckermann, has not filed for bankruptcy. Same applies for Thomas Cook Travel Shops (Belgium) nv/sa: no file for bankruptcy there too;

Actually, everyone is at work at the office in Zwijnaarde (Ghent) and all shops (Neckermann and Thomas Cook Travel Shops) are open today. Thomas Cook Belgium nv/sa (= THCB nv/sa) has put a "stop sales" for all new bookings. Quite obviously, as no one wants to book with them now. It is my personal and subjective opinion that they have done this upon request by their insolvency insurer;

All travel packages from THCB Belgium nv/sa are insured by the Garantiefonds Reizen / Fonds de Garantie de Voyages. Belgiam tourists who have booked in Belgium will thus travel as planned. In the event that THCB would also file for bankruptcy, the GFR/FGV will act immediately and make sure they will not be stranded abroad, or will be refunded when their trip is cancelled;

"Pegase" packages are not involved at all, as the trade name "Pegase" has recently been sold by THCB nv/sa to 'Pegase Travel nv/sa;

Press reports about Belgian tourists stranded at Brussels Airport are about Belgians who have booked with a foreign travel agent or direct with Thomas Cook Group U.K. They are stranded because their foreign trade contact hasn’t contacted them or because they haven't followed the U.K. advise "don't go to the airport". Not because Thomas Cook Belgium fails. At this very moment, the clients from THCB are departing from Brussels Airport onboard their Brussels Airlines flight as planned;

The European tourists that were locked up by a foreign hotel owner (Hotel Les Orangers in Hammamet) should file a complaint against the local authorities against that hotelier for blackmail. It is my personal and subjective opinion that the travel trade should remove that hotel from their offer;

The insolvency insurer from Thomas Cook Group PLC is the British CAA with their ATOL scheme. They have launched Operation Matterhorn to repatriate some 150.000 tourists.

Captain of Industry Jan Peeters writes that the reason why it went wrong last night, is because hedge funds stepped out. When they make losses through trading, that's part of their business. When they loose money because of a bankruptcy, they have an insurance scheme for those losses. With their investment being amended from debt into shares, they would loose a lot. With the bankcuptcy, they are covered.

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Re: Thomas Cook ceases trading; UK CAA launches giant programme to fly its customers home

Post by luchtzak » 23 Sep 2019, 13:47


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