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Old 16 May 19, 11:30 AM  
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#41
BeastnBeauty
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Originally Posted by ERICSMUM View Post
I always like to be positive but Iím uneasy that the loss of £1.5 billion for half-year is very big for a company that size, although I havenít looked their balance sheets etc.

Their announcement said that it was mainly caused by people not booking for various reasons including fear of terrorism and uncertainties of Brexit.

To my mind it takes a lot of lost bookings to result in that big a loss. Obviously dependant on the profit margins built into their costings & prices.

Issues might include withdrawal of credit by their bankers, do they lease or own their planes, do they have a good ďbufferĒ of currency already secured before the exchange rates started to fall ?

Anyway these are just my thoughts. With the help of their creditors they might very well be snapped up by another company. Letís hope so.
Iíve not had time to look into this, I will when I get home this evening, but I believe that the loss of £1.5b is made up of £1.1b in goodwill, which as we know isnít actual loss in the typical sense.

So the cash loss is around £400m it just sounds scarier when they say £1.5b.

If anyone wants to read the half year report:
thomascookgroup/pres...ails/102/11087

Edited at 12:08 PM.
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Old 16 May 19, 11:32 AM  
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#42
myaquarium
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Thanks for all the help here. I found out what I asked for regarding being covered or not. And I now know my insurance is not as comprehensive as I thought. All the rest is now down to me. Thanks again. Hopefully I havenít caused alarm and Iím sure TC will be ok.
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Old 16 May 19, 11:34 AM  
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#43
Moorlandman
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Originally Posted by Quensabob View Post
Don't worry everyone its pointless Thomas Cook have been going for over 100 years and there is still life left in them, threads with unfounded doom and gloom dont help, just make sure your covered for every potential.
The anouncement today was expected and the share price is already recovering!
Thanks. Just invested my life savings in Thomas Cook shares - bargain at 19p. Suggest everyone else gets on board too!
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Old 16 May 19, 12:07 PM  
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#44
baboons
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Try protectmyholiday/ for airline failure, they dont seem to have suspended Thomas Cook, which is a good sign.
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Old 16 May 19, 12:24 PM  
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#45
julie b
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Originally Posted by Uncle paul View Post
Weíre in the same boat, October flights with TC paid with credit card, holiday direct with Disney balance due August.
The worry and uncertainty is affecting the planning procedure, and starting to put a dampener on things.
Iím sure lots of others are feeling the same. 🤞
Same here flight only October.
San Fran out LA back booked everything separate ..
San Fran
Vegas
Queen Mary Long beach
Cruise.
All paid so fingers crossed..
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Old 16 May 19, 12:55 PM  
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#46
kellsbells
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My current travel insurance has end supplier failure (it's an annual policy) but it expires before our September trip for which I have TC flights already purchased. I was planning to just renew that insurance when it comes up, will that cover me does anyone know?
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Old 16 May 19, 01:40 PM  
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#47
Persnicketty
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Originally Posted by BeastnBeauty View Post
Iíve not had time to look into this, I will when I get home this evening, but I believe that the loss of £1.5b is made up of £1.1b in goodwill, which as we know isnít actual loss in the typical sense.

So the cash loss is around £400m it just sounds scarier when they say £1.5b.

If anyone wants to read the half year report:
thomascookgroup/pres...ails/102/11087
The goodwill impairment is definitely a red herring. As you say, it skews the results on a one-off basis due to down-valuing the assets acquired during the MyTravel merger a long time ago.

That is a fiscally responsible thing to do and suggests TC getting their corporate financial house in order ahead of inviting bidders to buy the business or parts of the business, not just the airline but their hotel/tour operator arm too.

And there is no question TC will continue to operate as a brand. I think existing customers have nothing to fear and if they do sell up, new customers will see no difference...still that TC brand name.

Though this recent flap might admittedly impact heavily on fresh bookings for a while. But half a billion in realised profit this year is still very impressive. This is not a failing business.

Their biggest issue is servicing a very real £1bn+ debt, whilst losing ground against Jet2 and other upstart competitors in TC's traditional hunting ground. And of course, the increasing number of folk going DIY. This is hurting TUI too.

But i am convinced there is no need for alarm. A "smaller" TC will remain part of the holiday landscape.
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Old 16 May 19, 01:42 PM  
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#48
Lucky23
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Have booked Tc flights for next August - if they do sell the airline what are my options?
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Old 16 May 19, 01:50 PM  
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dx4100
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Originally Posted by Lucky23 View Post
Have booked Tc flights for next August - if they do sell the airline what are my options?
If they sell the airline I would imagine your booking will just continue as normal. You won't have a right to cancel / get any money back unless the company went bust.
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Old 16 May 19, 01:51 PM  
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Scuttler01
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Booked for flights August 2020. Paid up with my debit card- guess this doesnít offer protection like a credit card?
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