Thomas Cook ceased trading

Aarcher63 said:
Sorry but a ridiculous comparison. Banks were holding pension funds, charity money , peoples life savings .. systems to pay nhs wages .. do I need to go on ? Saving the banks was in National Interests . Saving a travel company is not. In the last 10 years Tomas Cook Directors awarded themselves millions of pounds in bonuses. Doubtless took part in many a booze up with bankers after each extra £100 million loan was agreed . This was a very very good company ruined by bad management and bad ethics over at least the last 10 years
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Aye, and TC were also holding peoples pensions, life savings, dreams and most importantly money owed to Glasgow Rangers.
 
Feel for the employees and folk who have booked holidays with them but it’s not the banks fault that they can’t meet their obligations. How much have they paid their executives over the last 10 years while they were wanting the government to bail them out.
 
Bigbluebear1971 said:
Aye, and what happened when the banks required £955BILLION?
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Bit of a bigger societal impact from a bank going under than a travel company, as horrible as this situation is for TC's staff and their customers

The situations are not really comparable and trying to blame the banks for this is ridiculous. TC could and possibly should have had the plug pulled earlier
 
hms said:
The experts are saying it may take up to 6 months to get the money back.
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did the last time when Monarch went bust. staff i feel for who are now out a job and at this moment are still doing their best to get people home and in some of these cases will be loosing their home in the country they are working from.
 
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rez1872 said:
What’s really gutting is over 9000 people in the UK have woke up to not having a job. Over 20,000 across Europe in total.

That’s before the knock effect hits hoteliers, transport companies, airport staff etc.

Over 500 High Street premises gone as well.

Thomas Cook were a cluster %^*&, have been for over a decade but once again the banks have pushed a company over the edge.
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Just looking from a personal point of view mate, I’ve got friends who have lost there jobs today as well.

Think everyone understands the significance of what’s happened with TC today.
 
couldn't believe the woman on BBC this morning. She was on holiday in Tunisia and due to fly back tomorrow. She said that yesterday the hotel locked all the gates, turned a coach, that had come to take people to the airport, away three times.

She said people were in tears and a group of men were discussing whether to take the security guys on.

What right have the hotel got to kidnap people ffs?
 
Elvis said:
We're hardly in a position to complain about anyone owing us money given our own sorry state a few years back. Cook suffered the same fate as us. Run into the ground by incompetent imbeciles and hurting good, ordinary folks in the process.
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Chill out, I'm not complaining as you can clearly see if you read the post.
 
Dumfriesbear said:
No panic use a Parks of Hamilton bus to get there. Let them see what us fans endured before cheap flights came on the scene.
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If they give me a shout I can get them there as cheap as possible but you might see about 4 different countries in the way

All part of the euro away game fun
 
Bill the Butcher said:
The CAA will be scrambling round for empty flights/planes so it may not be a quick fix, some will be stranded for a while.
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Incorrect. CAA have organised over 60 flights today all more or less at same times as passengers have booked. They mirror the tam cooks programme so all who were meant to come back today will come back. Tomorrow is approx 70 flights and again to mirror the tam cook flying programme. This process goes on for 14 days . So if someone went on holiday last wednesday for 7 days there will be a flight for them this wednesday and if they booked 14 days they will still come back next week It has been carefully planned
 
Brave13VVV said:
Wonder if Rangers will release something about the Porto trip
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There is a statement on Sky Sports from Man United to say that their Europa League away trips are impacted and that they have been working on alternative providers. I hope the travel club have been doing the same.
 
Brave13VVV said:
Wonder if Rangers will release something about the Porto trip
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Guessing they will spend today working out where things stand and we will hear by Wednesday.

Theres an opportunity for another firm to step in grab a contract so I wouldnt rule out an alternative flight happening

Issue will likely be having to have everyone rebook.
 
Roadrunner said:
couldn't believe the woman on BBC this morning. She was on holiday in Tunisia and due to fly back tomorrow. She said that yesterday the hotel locked all the gates, turned a coach, that had come to take people to the airport, away three times.

She said people were in tears and a group of men were discussing whether to take the security guys on.

What right have the hotel got to kidnap people ffs?
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The phrase "This Is Africa" applies here.
 
Aarcher63 said:
Incorrect. CAA have organised over 60 flights today all more or less at same times as passengers have booked. They mirror the tam cooks programme so all who were meant to come back today will come back. Tomorrow is approx 70 flights and again to mirror the tam cook flying programme. This process goes on for 14 days . So if someone went on holiday last wednesday for 7 days there will be a flight for them this wednesday and if they booked 14 days they will still come back next week It has been carefully planned
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I get that, but this is the UK's biggest repatration since WWII, no way it'll all pan out smoothly.

Happy to be proved wrong.
 
People moaning about loosing there week n benidorm etc while people have literally lost there jobs over night and wont be getting paid...
 
Bigbluebear1971 said:
Aye, and what happened when the banks required £955BILLION?
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Tc is not a british owned company..its 55% owned by germans. Dont see merkal bailing thrm out.. as for banks me thinks its a tad differant if the banks had went tits up it would have had a knock on effect with millions of people with morgages isas loans etc savings... and the gov/ tax payer got there cash back from the banks ..
 
Bigbluebear1971 said:
Aye, and what happened when the banks required £955BILLION?
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Thomas Cook should have gone down the tubes last year about a similar time but ended up getting the necessary funding to limp on.

A year later and they were back in the exact same position.

How many times can you throw cash at a failing business?
 
John Dalrymple said:
People moaning about loosing there week n benidorm etc while people have literally lost there jobs over night and wont be getting paid...
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For some folk that break away is a lifeline to help get them through all sorts of shit the rest of the year. Every second of every day there are folk far worse or better of than you and you can't go about weighing it all up before considering your own position.
 
Capital G said:
There is a statement on Sky Sports from Man United to say that their Europa League away trips are impacted and that they have been working on alternative providers. I hope the travel club have been doing the same.
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I doubt we will for this season. A company would only see us for 2 maybe 3 games away this season if we got through. They'd look at Man Utd & expect them to get far.
 
The whole company was out of touch with the way we go on holiday. The price of a holiday was sometimes double than that of low cost carriers and booking accomodatoon independently. We were paying for the overheads. They relied too much on their reputation. Pilots will be fine. Cabin crew I'm not so sure. High Street staff are losing out big time. Hoteliers will simply offer rooms to someone else. Whole thing is a clusterfuck.
 
a_weir said:
Mate, they owed the banks £1.7 BILLION. Only Thomas Cool are to blame.
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The banks are supposed to be responsible lenders.

Why on earth did they lend 1.7bn pounds to Thomas Cook? They were never going to pay it back.

The banks have a share of the blame here.
 
Aarcher63 said:
They will all get home. ATOL protected .. the shadow airline set up by the CAA will fly to the same inbound schedules as Thomas Cook.. taking over their slots. People will basically come home on the same day as originally planned .. hence the operation starts today for 14 days and that brings home all people booked on 7 and 14 day holidays. If someone is away and they booked a package they will be fine. All future bookings cancelled .
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They are not all covered by Atol Thomas Cook last year withdrew Atol from flights only so any one just using their flights will be billed by the govt for repatriation to the UK unfortunately.
 
Big Buff said:
The banks are supposed to be responsible lenders.

Why on earth did they lend 1.7bn pounds to Thomas Cook? They were never going to pay it back.

The banks have a share of the blame here.
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They have a share yes but the lions share of blame falls with TC. Nobody forced them to.
 
a_weir said:
They have a share yes but the lions share of blame falls with TC. Nobody forced them to.
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There presumably has to be legislation or regulation that compels a bank to lend responsibly and not give money to a company that is clearly insolvent (and if such legislation does not exist, it absolutely should).

I wonder whether there will be criminal charges brought against those responsible. And then I remember that such charges are reserved for those of us who don't go to work in the City.
 
RSMcCollLoyal said:
Was given a trip for the Man Utd v Manchester City derby in March as a gift for my 40th through Thomas Cook Sport. Not happening now. Gutted for my wee mum, she paid a fortune for it to give me a special gift. Hopefully she gets her money back through ABTA.
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If she paid by credit card, they'll refund it if she claims
 
standardbarger said:
They are not all covered by Atol Thomas Cook last year withdrew Atol from flights only so any one just using their flights will be billed by the govt for repatriation to the UK unfortunately.
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Transport Secretary said this morning he has asked ATOL to repatriate everyone, not just package holiday tourists. So the taxpayer will be picking up the tab I think
 
Good. I'd say 'fick these conglomerate arseholes' if I wasn't sure that the owners had fleeced the remaining assets and left the employees to flounder.
 
BWO said:
Transport Secretary said this morning he has asked ATOL to repatriate everyone, not just package holiday tourists. So the taxpayer will be picking up the tab I think
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Same shite, different day. The taxpayer should be revolting.
 
Big Buff said:
The taxpayer doesn't pay - ATOL is covered by a charge on every holiday (£2.50 per person per holiday).
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We'll see. We would have paid out the proposed bail-out, and will likely cover their deposed employee's wages/rent in the time it takes for them to invent a new company with no liabilities.
 
standardbarger said:
They are not all covered by Atol Thomas Cook last year withdrew Atol from flights only so any one just using their flights will be billed by the govt for repatriation to the UK unfortunately.
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CAA shadow airline is repatriating all passengers on Thomas Cook flights for next two weeks. If you have a " flight only " you will still get on board the new flight at no extra cost.
 
BWO said:
We should be asking questions why it’s costing an estimated £600m to repatriate 150,000 tourists (that’s £4K a head)
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It will not cost £600 m to repatriate all the passengers. Some people in the industry believe this was a figure made up by TC themselves in order to shame the government into bailing them out. Figure whilst hard to give is expected to be nearer £100 m . Much of which is held in trust through tour operator £2.50 per head contributions for a fund that is to be used in exactly this circumstance
 
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