cancelled thomas cook

[Spike1911]

Sigh. The issue isn’t about making a loss as you can post a loss for various reasons but it’s whether the company can absorb the loss and whether the company has more assets than its liabilities and what trading looks like as you can do better than previous years but still post losses. In Thomas Cooks scenario they made a loss of almost 1.5 billion which must be almost unheard of plus they have debts worth 4 times assets. It’s worrying times but have been rated a going concern as long as they can offload the airline.

[Guest]

Originally Posted by Spike1911

Sigh. The issue isn’t about making a loss as you can post a loss for various reasons but it’s whether the company can absorb the loss and whether the company has more assets than its liabilities and what trading looks like as you can do better than previous years but still post losses. In Thomas Cooks scenario they made a loss of almost 1.5 billion which must be almost unheard of plus they have debts worth 4 times assets. It’s worrying times but have been rated a going concern as long as they can offload the airline.

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The airline if it was separated is a profitable business.

If they sold this off (and could find someone who would buy it for what it is worth) the money they would receive would be swallowed into the debt hole and make them basically solvent again.

So yes they are a going concern if they offload the airline, but only because the airline is the most valuable part of their business.

Essentially they are selling the family jewels in order to keep the shed at the bottom of the garden

[Guest]

Originally Posted by Sew109

Wrong the only savings accounts that will do a credit check are ones that may in the future turn to a current account with overdraft savings is not credit the best are listed here with up to 5% for regular savers !

moneysavingexpert/sa...ings-accounts/

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The quotes have gone funny. For the avoidance of doubt, it was me that mentioned that a poor credit score will not prevent anyone getting a savings account. Even a “nice” one.

[Guest]

Originally Posted by metalguru

I said a nice savings account, one with higher interest. Which is normally based on your credit score. So not open to all. Maybe I wasn't clear.

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Your clarity over the savings account interest rate is not relevant. It is still a savings account, there is no credit risk to the lending institution no matter what the interest rate is. So as I say, I was puzzled why you think some people cannot get a savings account. Banks like to hold savings as it increases their capacity to lend and make money.

[ERICSMUM]

Some banks require you to open a current account alongside a savings account, in which case they might check you out more thoroughly.

[Hotlush]

Looks like it is an industry wide issue, RyanAir issuing a profit warning too;
bbc/news/business-48332849

[metalguru]

[QUOTE=Claudette;13854963]Your clarity over the savings account interest rate is not relevant. It is still a savings account, there is no credit risk to the lending institution no matter what the interest rate is. So as I say, I was puzzled why you think some people cannot get a savings account. Banks like to hold savings as it increases their capacity to lend and make money.[/QUOTE

The person was saying to put money in a higher earning savings account instead of paying their holiday by DD. If you can only get a basic bank account, one that doesn't allow an overdraft facility because you have a bad credit rating then you won't get a higher interest savings account. My reply was aimed at showing some folk use DD to pay for their holiday. As I said some folk can't get credit cards or higher interest savings accounts. Somone on here is more obsessed with implying thst these people are stupid. They are not.

[Sew109]

[QUOTE=metalguru;13855194]

Originally Posted by Claudette

Your clarity over the savings account interest rate is not relevant. It is still a savings account, there is no credit risk to the lending institution no matter what the interest rate is. So as I say, I was puzzled why you think some people cannot get a savings account. Banks like to hold savings as it increases their capacity to lend and make money.[/QUOTE

The person was saying to put money in a higher earning savings account instead of paying their holiday by DD. If you can only get a basic bank account, one that doesn't allow an overdraft facility because you have a bad credit rating then you won't get a higher interest savings account. My reply was aimed at showing some folk use DD to pay for their holiday. As I said some folk can't get credit cards or higher interest savings accounts. Somone on here is more obsessed with implying thst these people are stupid. They are not.

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I have implied that I think that paying direct debit for something that you do not have to, so that the company can gain the interest on YOUR money is daft and it is.

At no point have I implied that people who cant get credit are stupid as a self employed person I know the pitfalls.

[Burgmeister]

Originally Posted by Hotlush

Looks like it is an industry wide issue, RyanAir issuing a profit warning too;
bbc/news/business-48332849

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Yes, but the difference is that Ryanair still made a decent profit - just not as much as they expected.

[Guest]

Originally Posted by Sew109

I have implied that I think that paying direct debit for something that you do not have to, so that the company can gain the interest on YOUR money is daft and it is.

At no point have I implied that people who cant get credit are stupid as a self employed person I know the pitfalls.

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I take it that wasn’t to me?

Metal guru, sort your quoting out, it has a knock on effect.