Insurance info if Thomas cook goes bust

[PPM]

Originally Posted by ERICSMUM

Hardly “doomers”. It is /was a potentially worrying matter for lots of people. If a group of we Dibbers were having a coffee in Costa, we would discuss all sorts - from best case to worst case scenarios, we wouldn’t ignore the issues just because we wouldn’t want to be perceived as unnecessarily pessimistic.

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Sorry if you didn’t see the irony of my comments. But I do take your comments onboard.

Anyway Costa is overpriced and infested by a special Mickey

But I still say there’s clouds of doom going on here. Any airline who declares their losses, becomes a target for these, just that the flavour of the moth has changed from Norwegian to TC.
Interestingly the VA followers on here don’t seem to have any concerns on the continuing bouts of cancellations, time changes and merging of flights. Oh, and they posted a loss too.

And TUI have posted an increased loss too. We had better start looking at changing away from them to?

Doesn’t leave much to choose from.

[PPM]

Originally Posted by MariaLynda

I also really hope VA don't get it, as much as a like virgin we need more competition on flight prices in Manchester not them having control. Is anyone else interested? No chance at all of BA? (Sorry if there is a reason why they can't/won't, I don't know).

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If you don’t want VA to get them why would you want BA as they cover a lot of the same routes as VA and TC?

My bet? Thomas Cook Airlines as a stand alone business, with a new name same Airline management ( this part of TC works and is profitable ) backed by financial houses. Basically a TC Airlines management buyout. They then restructure and sell off some landing slots, going more into the low cost airline rather than holiday charter.
But what do I know ...perhaps my rambling will encourage more discussion ( positive )

[MariaLynda]

Purely using flight prices to orlando as an example as I have knowledge of those, I don't want VA to get it as we need more competition on the price front. I looked earlier on skyscanner for my dates next year but doing 2019, VA from Gatwick came up as around 700 in premium... changed it to manchester and it was £1170...

[Manny Haines]

Originally Posted by PPM

My bet? Thomas Cook Airlines as a stand alone business, with a new name same Airline management ( this part of TC works and is profitable ) backed by financial houses. Basically a TC Airlines management buyout. They then restructure and sell off some landing slots, going more into the low cost airline rather than holiday charter.
But what do I know ...perhaps my rambling will encourage more discussion ( positive )

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I thought about this as well perhaps with Lufthansa buying the Condor slots but there is the fact the there isn't the "space" for another low cost airline here in the UK, I don't think it would last long.
A management buyout is a dream scenario as it would be great for employees job security.

I'm a loyal Thomas Cook traveller and will remain so.

[Guest]

Sounds like the blood is in the water now, Citi Group (their biggest broker) just issued the following assessment

LONDON, May 17 (Reuters) - Thomas Cook Group shares lost a quarter of their value on Friday and bonds hit a record low after Citi downgraded its rating to 'sell' and cut its target price on the stock to zero, in the wake of the company's latest profit warning.

A target price of zero - that's junk status

[sprocket]

And then another 30% drop in their share price.

Originally Posted by Guest

Sounds like the blood is in the water now, Citi Group (their biggest broker) just issued the following assessment

LONDON, May 17 (Reuters) - Thomas Cook Group shares lost a quarter of their value on Friday and bonds hit a record low after Citi downgraded its rating to 'sell' and cut its target price on the stock to zero, in the wake of the company's latest profit warning.

A target price of zero - that's junk status

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[YorkshireT]

It was worth 219m this morning, now it’s worth 178.
Citi Group has basically said its worth nothing by saying share target price is nil.
Very sad to see this, it’s now gone past life support and is having resuscitation.
Note an auditor has raised issues re the sale of the airline, and we now know the further funding was dependent upon that.
bbc/news/business-48308001

[Lucky23]

Originally Posted by YorkshireT

It was worth 219m this morning, now it’s worth 178.
Citi Group has basically said its going bust by saying share target price is nil.
Very sad to see this, it’s now gone past life support and is having resuscitation.

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Can anyone explain what this means if you have booked flights with them next August?

[YorkshireT]

Originally Posted by Lucky23

Can anyone explain what this means if you have booked flights with them next August?

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Nothing yet, it’s trading, it has money lined up if it can sell its airline. These are all ifs. Hopefully it will work out but Citi Group analysts don’t think so.

I’m keeping my fingers crossed.

[col1968]

I have flights booked for this August! Hope this gets sorted out soon