Insurance info if Thomas cook goes bust

[YorkshireT]

Unfortunately TC have been unable to sell the airline at anything like the perceived value- a necessity if it was to get it's bank funding for winter.
They are now planning the last chance saloon, a restricturing whereby sharholders will be virtually wiped out in return for TC getting a Fosun cash injection. So the shareholders will be able to vote on it and get pennies in the pound (shares went under 4.5 pence each today) or watch it go into adminsitration.
I think the shareholders will have to take a bath and get at least something back, otherwise the alternative is nothing, which will restructure its debt and then it will survive in the forseeable future, and hopefully go on to prosper. Then again if its such a low amount they may reject it anyway.
There is a very well priced TC flight I want for next summer already, but I am personally holding off to ensure this goes through first.

[Disney20152]

Apologies o haven’t read through all the responses yet but I’ve seen a holiday I am interested in on Thomas cook for December. Is it best to hold off booking for now ? X

[itsmeGAV]

Originally Posted by YorkshireT

Unfortunately TC have been unable to sell the airline at anything like the perceived value- a necessity if it was to get it's bank funding for winter.
They are now planning the last chance saloon, a restricturing whereby sharholders will be virtually wiped out in return for TC getting a Fosun cash injection. So the shareholders will be able to vote on it and get pennies in the pound (shares went under 4.5 pence each today) or watch it go into adminsitration.
I think the shareholders will have to take a bath and get at least something back, otherwise the alternative is nothing, which will restructure its debt and then it will survive in the forseeable future, and hopefully go on to prosper. Then again if its such a low amount they may reject it anyway.
There is a very well priced TC flight I want for next summer already, but I am personally holding off to ensure this goes through first.

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They're yet to sell the airline and have until September to sell if I'm not mistaken?

[Quensabob]

Originally Posted by itsmeGAV

They're yet to sell the airline and have until September to sell if I'm not mistaken?

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Apparently its on hold until after the deal with fosun, they say it could replace the need to have to sell, and thomas cook airlines will be run by thomas cook plc and both will be pulled from the market and become private companies!
google/amp/s/news... eased-11763476

[anneeb]

Originally Posted by Disney20152

Apologies o haven’t read through all the responses yet but I’ve seen a holiday I am interested in on Thomas cook for December. Is it best to hold off booking for now ? X

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Holidays are protected. Flights book with a credit card.

[Kev Harrison]

Not checked in here for a while, where is the doom and gloom merchant that claimed TC would be gone in a week...

[tspill]

Originally Posted by Kev Harrison

Not checked in here for a while, where is the doom and gloom merchant that claimed TC would be gone in a week...

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Who was only giving them a week?

[Guest]

The plot thickens... This was published today by "the week" magazine

"A leading analyst has cast doubt over whether Thomas Cook’s £750m rescue plan, announced at the end of last week, will work.

Citigroup’s James Ainley suggested the package, which would put Chinese conglomerate Fosun in control of the 178-year-old tour operator, could be blocked by its bondholders."

theweek/98281/is-t...ut-to-collapse

[Claret1882]

Depends who you want to listen to.

news.sky/story/a-rosy-fu...eased-11763476

[Miss_Shell]

Bottom line is: nobody actually knows till whatever happens, happens.