Brave move, they'll renegotiate rents for sure to bring costs down but will that be enough, only time will tell and hope they have an overall plan. Their current business looks ok if a little marginal, £379m of sales but only £10m of profit, not a great profit margin.
If I'm right, I heard that the holiday sales is the only place they were making sales and the flights were a massive lost. If this is the case then I'm sure they can make it work and higher profits with outsourcing flights.
Have those at the top handed back any of the millions they handed themselves yet, including just before the collapse?
don't hold your breath waiting for this to happen .. in a few months time all this will be forgotten as a new 'scandal' makes the headlines. These incompetents/thieves (delete which is the least appropriate description) will be nicely tucked away in another job or at worst be on the Riviera spending their ill gotten. For my part they should be dragged into court in handcuffs and kept in custody until they have repaid every penny of their 'salaries and bonuses' gained at the expense of their employees and the British tax payer and ABTA contributors who forked out to bring home those who were effectively abandoned whilst abroad having been conned by Thomas Cook into believing that their holiday would be trouble free and enjoyable.
I don't intend to hold my breath, but the wait it out seems to me to be the stock solution to these issues. How many bankers responsible for the crash went to jail? These things point to a different world for some than for others.
Neil Woodford is another one whose dealings need looking into .. as does his relationship with Hargreaves Lansdown (the Lansdown who owns Bristol City F C and Bristol Rugby)
Brave move, they'll renegotiate rents for sure to bring costs down but will that be enough, only time will tell and hope they have an overall plan. Their current business looks ok if a little marginal, £379m of sales but only £10m of profit, not a great profit margin.
If I'm right, I heard that the holiday sales is the only place they were making sales and the flights were a massive lost. If this is the case then I'm sure they can make it work and higher profits with outsourcing flights.
Other way around. They made profits on the flights and massive losses on the holidays.
Brave move, they'll renegotiate rents for sure to bring costs down but will that be enough, only time will tell and hope they have an overall plan. Their current business looks ok if a little marginal, £379m of sales but only £10m of profit, not a great profit margin.
If I'm right, I heard that the holiday sales is the only place they were making sales and the flights were a massive lost. If this is the case then I'm sure they can make it work and higher profits with outsourcing flights.
Other way around. They made profits on the flights and massive losses on the holidays.
but the two were interdependent - the airline wouldn't have made money without the bums on seats provided by the tour operator...
Brave move, they'll renegotiate rents for sure to bring costs down but will that be enough, only time will tell and hope they have an overall plan. Their current business looks ok if a little marginal, £379m of sales but only £10m of profit, not a great profit margin.
If I'm right, I heard that the holiday sales is the only place they were making sales and the flights were a massive lost. If this is the case then I'm sure they can make it work and higher profits with outsourcing flights.
Other way around. They made profits on the flights and massive losses on the holidays.
but the two were interdependent - the airline wouldn't have made money without the bums on seats provided by the tour operator...
So you said before. But that wasnt the point I was responding to - which was incorrect.
Comments
For my part they should be dragged into court in handcuffs and kept in custody until they have repaid every penny of their 'salaries and bonuses' gained at the expense of their employees and the British tax payer and ABTA contributors who forked out to bring home those who were effectively abandoned whilst abroad having been conned by Thomas Cook into believing that their holiday would be trouble free and enjoyable.
https://www.bbc.co.uk/news/business-50053594
Rebooked our holiday today.
Happy days
The Thomas Cook brand has been saved from obscurity after the Chinese owner of Club Med said it would buy the name for £11m.
Fosun Tourism, which was seen a potential saviour of Thomas Cook before it went bust, is also acquiring the Casa Cook and Cook's Club hotel brands.
https://www.bbc.co.uk/news/business-50267453
EasyJet and Jet2.com have bought all of the take-off and landing slots owned by collapsed travel firm Thomas Cook in UK airports.
The slots at London Gatwick and Bristol were bought by EasyJet for £36m, the government's liquidation service said.
Jet2.com has bought slots at Manchester, Birmingham and Stansted airports for an undisclosed amount.
https://www.bbc.co.uk/news/business-50350531
RIP
The founder of the UK's largest independent travel agent, Hays Travel, has died after collapsing at the firm's head office.
John Hays was the managing director of the Sunderland-based firm, alongside his wife and co-owner Irene.
It famously took on more than 2,000 former Thomas Cook employees when that company went bust in October last year.
Mr Hays died "while doing the job he loved" and was "held in immense respect" by staff, a statement said.
The company has been in business for 40 years.