Insurance info if Thomas cook goes bust

[itsmeGAV]

Originally Posted by YorkshireT

In fairness Simon Calder knows no more about finances of the company than the next man- he isn't a lender, has no idea I assume as to what the booking numbers now are etc. He doesn't know more than those who have lent to the company, who are now offloading their debt (bonds) at 50% value (i.e. taking a big hit to get their money back).
He is a travel journalist who has been constantly popping up and writing stories saying Thomas Cook will likely be fine, which they may be- if they sell the airline.
As to cashflow, TC will now be relying on bookings, people commiting after paying small deposits. I have no idea how that is going but anecdotal evidence to me suggests not well. I'd have booked a cheap LA flight last week, I've decided no. My parents paid £80 deposit on a holiday, they have written it off. My pals who are going to Egypt are trying to book elsewhere.
We will have to see how it all pans out, but my point is because Simon Calder says it's so, certainly doesn't mean it is.
A positive in a way is that it has so much debt, if it can't keep going we may see a debt for equity swap with the lenders taking control.

See more...

Bore off.

[Tinkerbell]

Originally Posted by YorkshireT

In fairness Simon Calder knows no more about finances of the company than the next man- he isn't a lender, has no idea I assume as to what the booking numbers now are etc. He doesn't know more than those who have lent to the company, who are now offloading their debt (bonds) at 50% value (i.e. taking a big hit to get their money back).
He is a travel journalist who has been constantly popping up and writing stories saying Thomas Cook will likely be fine, which they may be- if they sell the airline.
As to cashflow, TC will now be relying on bookings, people commiting after paying small deposits. I have no idea how that is going but anecdotal evidence to me suggests not well. I'd have booked a cheap LA flight last week, I've decided no. My parents paid £80 deposit on a holiday, they have written it off. My pals who are going to Egypt are trying to book elsewhere.
We will have to see how it all pans out, but my point is because Simon Calder says it's so, certainly doesn't mean it is.
A positive in a way is that it has so much debt, if it can't keep going we may see a debt for equity swap with the lenders taking control.

See more...

In fairness he knows as much as you do so based on that assumption, as he’s more involved in travel etc he’s probably more in the “know “ than you ... it hey ho let’s just rain on everyone’s grasp of Hope makes for a much more fun day.

[JoJoBell]

Originally Posted by Tinkerbell

In fairness he knows as much as you do so based on that assumption, as he’s more involved in travel etc he’s probably more in the “know “ than you ... it hey ho let’s just rain on everyone’s grasp of Hope makes for a much more fun day.

See more...

I will grasp any hope with my flight being so soon

Sure noone is daft enough to think that just because Me Calder believes it will be ok that its a guarantee

But being as there is absolutely nothing I can do about the situation at the very least it stops me being too anxious

[Tinkerbell]

Originally Posted by JoJoBell

I will grasp any any hope with my flight being so soon

Sure noone is daft enough to think that just because Me Calder believes it will be ok that its a guarantee

But being as there is absolutely nothing I can do about the situation at the very least it stops me being too anxious

See more...

I totally understand. This has been ongoing since last year. I’ve just come back from WDW having flown with TC, got similar responses when I was worried. As you say, nothing you can do about it, there’s always one

[JoJoBell]

Originally Posted by Tinkerbell

I totally understand. This has been ongoing since last year. I’ve just come back from WDW having flown with TC, got similar responses when I was worried. As you say, nothing you can do about it, there’s always one

See more...

Thank you

[Kev Harrison]

Originally Posted by YorkshireT

In fairness Simon Calder knows no more about finances of the company than the next man- he isn't a lender, has no idea I assume as to what the booking numbers now are etc. He doesn't know more than those who have lent to the company, who are now offloading their debt (bonds) at 50% value (i.e. taking a big hit to get their money back).
He is a travel journalist who has been constantly popping up and writing stories saying Thomas Cook will likely be fine, which they may be- if they sell the airline.
As to cashflow, TC will now be relying on bookings, people commiting after paying small deposits. I have no idea how that is going but anecdotal evidence to me suggests not well. I'd have booked a cheap LA flight last week, I've decided no. My parents paid £80 deposit on a holiday, they have written it off. My pals who are going to Egypt are trying to book elsewhere.
We will have to see how it all pans out, but my point is because Simon Calder says it's so, certainly doesn't mean it is.
A positive in a way is that it has so much debt, if it can't keep going we may see a debt for equity swap with the lenders taking control.

See more...

Honestly. The only way you will be happy is if you are proved right and lots of people lose money and jobs.

That is terrible.

Simon Calder knows far more than you or I. He has a career and respect in said career. He won’t post anything without being pretty certain things are fine.

I read a month ago that TC airlines already have offers on the table.

[Guest]

Originally Posted by Kev Harrison

Honestly. The only way you will be happy is if you are proved right and lots of people lose money and jobs.

That is terrible.

Simon Calder knows far more than you or I. He has a career and respect in said career. He won’t post anything without being pretty certain things are fine.

I read a month ago that TC airlines already have offers on the table.

See more...

I have heard they have offers on the table to.

Virgin made on prior to buying FlyBe on the cheap, they may still be interested or they may be too busy integrating FlyBe.

The Chinese owners of a number of budget airlines have also tabled an offer.

I have read about their being other offers too.

So long as the airline raises enough cash then everything will be fine, and frankly I don't even think the people who submitted the bids know how that is going to "pan out" so there is no way we could have anything other than an opinion

[anneeb]

I haven’t posted on the Thomas Cook threads, too many to keep up with
I have been watching the share prices and a Thomas Cook share chat, saw talk of Triton in talks to buy the Nordic arm of Thomas Cook. This is probably all over the news by now. We fly next summer with Thomas Cook, not overly concerned.
Edit. To the person on whichever of these TC threads said about 8p shares, they are now nearer to 13p

[itsmeGAV]

Originally Posted by anneeb

I haven’t posted on the Thomas Cook threads, too many to keep up with
I have been watching the share prices and a Thomas Cook share chat, saw talk of Triton in talks to buy the Nordic arm of Thomas Cook. This is probably all over the news by now. We fly next summer with Thomas Cook, not overly concerned.
Edit. To the person on whichever of these TC threads said about 8p shares, they are now nearer to 13p

See more...

Shares continue to rise, not by a huge amount, but it's something

[Kev Harrison]

Originally Posted by itsmeGAV

Shares continue to rise, not by a huge amount, but it's something

See more...

Certainly is if you bought them rock bottom