If Thomas Cook do fold then what is the future?

[Tinkerbell]

TBH, and I know nothing about the travel industry, apart from the fact it’s cut throat, regardless of warning etc I think many felt, including myself and MANY MANY others on here that TC would be to big to fail, the airline would be sold off and the high street business Disappear. Back end of last year when the news came out about profit warning etc I contacted my insurer for SAFI, I already had it but even they said, Thomas cook won’t fail it too big, never happen!

Thomas cook were too late to the party to be “different” in a competitive world. Too late to close high street stores, too late to focus on airlines. I can’t see many non specialist high street travel agents continuing in the next 10 years. Online companies like ATD etc will probably stay the course as they specialise and offer assurances to those who prefer to book via a third party. Personally I’d never use a high street agent and haven’t for over 25 years. I used a specialist online for our South Africa trip.

Very sad for all concerned but really sorry for those who work for the company, one wonders what other job opportunities are out there at this time.

[Lindaelaine]

Originally Posted by Tinkerbell

TBH, and I know nothing about the travel industry, apart from the fact it’s cut throat, regardless of warning etc I think many felt, including myself and MANY MANY others on here that TC would be to big to fail, the airline would be sold off and the high street business Disappear. Back end of last year when the news came out about profit warning etc I contacted my insurer for SAFI, I already had it but even they said, Thomas cook won’t fail it too big, never happen!

Thomas cook were too late to the party to be “different” in a competitive world. Too late to close high street stores, too late to focus on airlines. I can’t see many non specialist high street travel agents continuing in the next 10 years. Online companies like ATD etc will probably stay the course as they specialise and offer assurances to those who prefer to book via a third party. Personally I’d never use a high street agent and haven’t for over 25 years. I used a specialist online for our South Africa trip.

Very sad for all concerned but really sorry for those who work for the company, one wonders what other job opportunities are out there at this time.

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TUI I would have thought were TC’s main competitor in the high street trade, surely this will be a boost for their buisness now. I have always used our local high street TC to book our European holidays as I always got the online price, the high street store was a godsend for those of us who don’t book online and like to book face to face. It will become a thing of the past eventually though as everything is progressing to online service. I used to see as many young faces in TC booking holidays so it’s not just the older generation that prefer this way of booking but it will be like everything else become a thing of the past as everything is now geared up to be done online.
Everyone out for a bargain and with the easier ability to search for the cheapest price online, it’s all cut throat now and will end up being which company can survive the competition .
Just wondering if the latest surge in airline delay compensation has added to the demise of TC.

[JudgeJ26]

Originally Posted by Lindaelaine

TUI I would have thought were TC’s main competitor in the high street trade, surely this will be a boost for their buisness now. I have always used our local high street TC to book our European holidays as I always got the online price, the high street store was a godsend for those of us who don’t book online and like to book face to face. It will become a thing of the past eventually though as everything is progressing to online service. I used to see as many young faces in TC booking holidays so it’s not just the older generation that prefer this way of booking but it will be like everything else become a thing of the past as everything is now geared up to be done online.
Everyone out for a bargain and with the easier ability to search for the cheapest price online, it’s all cut throat now and will end up being which company can survive the competition .
Just wondering if the latest surge in airline delay compensation has added to the demise of TC.

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We always used our local TC store to book our Florida holidays as we preferred to talk to someone face to face. The staff were always fantastic and so helpful sorting out the best deal for us. The shop was always busy with customers of all ages.

[RickT]

Originally Posted by Chair1519

They fill planes seats and hotels abroad 52 weeks a year. .

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They didnt though..

My example, last year, Las Vegas - flight 50% full and i paid the same price as a train ticket from London to Leeds.

That flight was operating at a massive loss that day.

[thatdavieguy]

Would imagine that Fosun will be happily picking the carcass via the liquidators and over the next few years or so we'll see a new company appear...maybe even with the same name.

[RickT]

Originally Posted by Tinkerbell

TBH, and I know nothing about the travel industry, apart from the fact it’s cut throat, regardless of warning etc I think many felt, including myself and MANY MANY others on here that TC would be to big to fail, the airline would be sold off and the high street business Disappear. Back end of last year when the news came out about profit warning etc I contacted my insurer for SAFI, I already had it but even they said, Thomas cook won’t fail it too big, never happen!

Thomas cook were too late to the party to be “different” in a competitive world. Too late to close high street stores, too late to focus on airlines. I can’t see many non specialist high street travel agents continuing in the next 10 years. Online companies like ATD etc will probably stay the course as they specialise and offer assurances to those who prefer to book via a third party. Personally I’d never use a high street agent and haven’t for over 25 years. I used a specialist online for our South Africa trip.

Very sad for all concerned but really sorry for those who work for the company, one wonders what other job opportunities are out there at this time.

See more...

I expected 18 months ago they would of closed the majority of their high-street stores to increase profit, but no. As you say, it became an old fashioned company not keeping current.

[RickT]

"It was hit hard by online competition, a changing travel market, terrorist attacks in destinations such as Tunisia and last year's European heatwaves. People postponing holidays due to Brexit uncertainty and higher fuel costs also weighed heavily on the company."

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They forgot to mention bad management.

[Lindaelaine]

Originally Posted by RickT

They didnt though..

My example, last year, Las Vegas - flight 50% full and i paid the same price as a train ticket from London to Leeds.

That flight was operating at a massive loss that day.

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Yet on all our European flights we have never had a flight that wasn’t full , I’m talking maybe 30/40 flights, there would be the odd spare seat but mostly all seats taken, maybe the long hauls were their downfall. I did notice a huge drop in their overseas reps, you used to always travel with a rep on the transfer to hotels, that stopped quite a while ago, they were there to do head counts and then left the rest to the driver, also a lot of the hotels no longer had visits from the reps.
I’m sure they were doing a lot of cut backs but of course that wouldn’t include top management who were raking it in.
Most of the staff have lost their livelihood, the lady I always booked with had her husband made redundant a couple of years ago and now she has lost her job, it’s a very sad day all round to see yet another high street store close down.

[bonnies mum]

Unfortunately their demise means less choice for the consumer, as mentioned above this really only leaves a TUi as a major high street tour operator.
Less competition = higher prices.

[thatdavieguy]

Originally Posted by RickT

They forgot to mention bad management.

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Blaming everything but themselves