quilp Posted September 23, 2019 Share Posted September 23, 2019 Thomas Cook didn't suddenly acquire £1 billion+ debt overnight because people voted in the referendum. That company has been battling debt for some time. Blame Thomas Cook, not brexit. 2 1 Quote Link to comment Share on other sites More sharing options...
woody2 Posted September 23, 2019 Share Posted September 23, 2019 5 minutes ago, TheTeapot said: Glad you've cleared that up guys, I knew it was NOTHING to do with Brexit. i didn't say that....... Quote Speaking to BBC News from Manchester airport, travel expert Simon Calder said Thomas Cook "wasn't ready for the 21st Century". He said: "It was using a model that was great for the second half of the 20th Century where people would obediently go into their local travel agency and book a package holiday. "Now everybody can pretend they are a travel agent. They've got access to all the airline seats, hotel beds, car rentals in the world and they can put things together themselves. "Thomas Cook simply wasn't differentiating enough." and....... Quote Thomas Cook had secured a £900m rescue deal led by its largest shareholder Chinese firm Fosun in August, but a recent demand from its lending banks to raise a further £200m in contingency funding had put the deal in doubt. and..... Quote Thomas Cook has blamed a series of issues for its problems including political unrest in holiday destinations such as Turkey, last summer's prolonged heatwave and customers delaying booking holidays because of Brexit. But the firm has also faced fierce competition from online travel agents and low-cost airlines. In addition, many holidaymakers are putting together their own holidays and not using travel agents. https://www.bbc.co.uk/news/business-49791249 2 Quote Link to comment Share on other sites More sharing options...
b4mbi Posted September 23, 2019 Share Posted September 23, 2019 "But the firm has also faced fierce competition from online travel agents and low-cost airlines. In addition, many holidaymakers are putting together their own holidays and not using travel agents." Doesn't take a genius to spot above is primary underlying reason for failure! 1 2 Quote Link to comment Share on other sites More sharing options...
woody2 Posted September 23, 2019 Share Posted September 23, 2019 10 minutes ago, b4mbi said: "But the firm has also faced fierce competition from online travel agents and low-cost airlines. In addition, many holidaymakers are putting together their own holidays and not using travel agents." Doesn't take a genius to spot above is primary underlying reason for failure! eu exit....... Quote Link to comment Share on other sites More sharing options...
woody2 Posted September 23, 2019 Share Posted September 23, 2019 according to some....... 1 Quote Link to comment Share on other sites More sharing options...
woody2 Posted September 23, 2019 Share Posted September 23, 2019 i blame the eco nutters....... Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted September 23, 2019 Share Posted September 23, 2019 Corbyn/rrmoan/momentum/libdums scargill Derek Hatton in that order. 1 Quote Link to comment Share on other sites More sharing options...
manxman1980 Posted September 23, 2019 Share Posted September 23, 2019 I will, for once, agree with the Eurosceptics on here and say that Thomas Cook's collapse was nothing to do with Brexit. As has been pointed out they have had problems for a long time and it is not a stand alone event. We have already seen the collapse of Monarch and Excel (Spelling?) Airlines collapse. The uncertainty on holiday travel relating to Brexit is relatively minor for British Nationals. The advice is if you are travelling to the EU after the 31st October is to check online to see if your passport is valid for travel (ensure that you have at least 6 months remaining on your passport seems to be the message). I am not clear on what the advice is for EU nationals living in the UK and travelling on EU passports. I would assume that the only place they may face difficulty is in re-entering the UK but I have not done any research on this. 1 1 Quote Link to comment Share on other sites More sharing options...
woolley Posted September 23, 2019 Share Posted September 23, 2019 And very poor direction from the top for twenty years at least. Not keeping up with consumer trends. Maintaining a fleet of shops with an ever diminishing patronage due to online booking. Also a couple of very ill-advised acquisitions adding to the debt pile. I bet the management kept on paying themselves hefty bonuses though. 3 Quote Link to comment Share on other sites More sharing options...
Neil Down Posted September 23, 2019 Share Posted September 23, 2019 3 hours ago, TheTeapot said: Glad you've cleared that up guys, I knew it was NOTHING to do with Brexit. yet still you harp on about it... Quote Link to comment Share on other sites More sharing options...
P.K. Posted September 23, 2019 Share Posted September 23, 2019 52 minutes ago, woolley said: And very poor direction from the top for twenty years at least. Not keeping up with consumer trends. Maintaining a fleet of shops with an ever diminishing patronage due to online booking. Also a couple of very ill-advised acquisitions adding to the debt pile. I bet the management kept on paying themselves hefty bonuses though. "Thomas Cook returned to private ownership in 1972 and has seen a series of mergers and takeovers. In 2007, it merged with the UK-listed owner of Airtours, MyTravel Group, which nearly collapsed in 2011 but was bailed out by its banks. The rescue left Thomas Cook with a debt burden of £1.7bn and the company struggled to cope, leaving administration as the only option." 1 Quote Link to comment Share on other sites More sharing options...
P.K. Posted September 23, 2019 Share Posted September 23, 2019 Here's a puzzle. When he was London Mayor why on earth would our Prime Minister award public money to this US businesswoman....? There must be a story in here somewhere.... https://www.theguardian.com/politics/2019/sep/22/boris-johnson-urged-to-justify-awarding-public-funds-to-close-friend-jennifer-arcuri 1 Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted September 23, 2019 Share Posted September 23, 2019 1 hour ago, Neil Down said: yet still you harp on about it... Where have I done that you fucking spoon? Quote Link to comment Share on other sites More sharing options...
Neil Down Posted September 23, 2019 Share Posted September 23, 2019 4 minutes ago, TheTeapot said: Where have I done that you fucking spoon? Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted September 23, 2019 Share Posted September 23, 2019 Imagine being you. No wonder everyone thinks you're a twat. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.