djchapsticks Posted September 22, 2019 Share Posted September 22, 2019 https://news.sky.com/story/thomas-cook-begs-lenders-to-slash-200m-demand-11817027 Hopefully a positive sign that this is still being considered by their creditors. 0 Quote Link to comment Share on other sites More sharing options...
DeeTillEhDeh Posted September 22, 2019 Share Posted September 22, 2019 https://news.sky.com/story/thomas-cook-begs-lenders-to-slash-200m-demand-11817027 Hopefully a positive sign that this is still being considered by their creditors. Even Raab's comment does not explicitly rule out help. “We don’t systematically step in with the taxpayers’ money when businesses are going under unless there is a good strategic national interest for doing so,” Foreign Secretary Dominic Raab said on BBC TV’s “Andrew Marr” Show on Sunday. We'll just need to wait and see. 0 Quote Link to comment Share on other sites More sharing options...
Bishop Briggs Posted September 22, 2019 Share Posted September 22, 2019 27 minutes ago, DeeTillEhDeh said: Even Raab's comment does not explicitly rule out help. We'll just need to wait and see. Would a Government bailout require Parliamentary approval? And it's not just Britain's problem. Thomas Cook should ask the German Government for to cough most of the money. Thomas Cook's German owners (C&N Touristic AG) were the ones who merged it with MyTravel in 2007 with disastrous results. Angela Merkel, get yer purse oot! 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 22, 2019 Share Posted September 22, 2019 7 hours ago, djchapsticks said: I've got everything crossed - flight is tomorrow at 10:30am. If it all goes tits up, credit card have already confirmed they will refund flights in full but need to get alternative ways to get out there. At time of writing, Glasgow to Miami (via Heathrow) on Tuesday morning is the best bet then 4 hour drive to Orlando. Desperate times though, this weekend was meant to be a breeze through to the holiday and it's just been a combination of worry and anxiety. Heard that if today's talks fail the announcement will wait till the early hours when their planes are on the ground. Did you book your hotel separately? Some folk in Tunisia are already having trouble with their hotels worried that they won't get paid. 0 Quote Link to comment Share on other sites More sharing options...
DeeTillEhDeh Posted September 22, 2019 Share Posted September 22, 2019 Would a Government bailout require Parliamentary approval? And it's not just Britain's problem. Thomas Cook should ask the German Government for to cough most of the money. Thomas Cook's German owners (C&N Touristic AG) were the ones who merged it with MyTravel in 2007 with disastrous results. Angela Merkel, get yer purse oot!It seems that there could be a loan facility (on commercial rates) but not a direct capital injection. 0 Quote Link to comment Share on other sites More sharing options...
djchapsticks Posted September 22, 2019 Share Posted September 22, 2019 2 minutes ago, welshbairn said: Heard that if today's talks fail the announcement will wait till the early hours when their planes are on the ground. Did you book your hotel separately? Some folk in Tunisia are already having trouble with their hotels worried that they won't get paid. Yeah, I've booked the Villa directly with the owner via HomeAway website as well as the tickets independently and the car (which I've already had confirmed can be transferred to Miami pickup as long as I notify them before scheduled pickup time). So nothing to worry about in that regard. It's purely a flight situation. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 22, 2019 Share Posted September 22, 2019 5 minutes ago, djchapsticks said: Yeah, I've booked the Villa directly with the owner via HomeAway website as well as the tickets independently and the car (which I've already had confirmed can be transferred to Miami pickup as long as I notify them before scheduled pickup time). So nothing to worry about in that regard. It's purely a flight situation. Not sure if your Tuesday Airline allows it, but if like some you can hold a booking for 24 hours before confirming and paying, it could be worth it. The fares could shoot up tomorrow if Cook's goes tits up tonight and you could cancel it if they don't. 0 Quote Link to comment Share on other sites More sharing options...
djchapsticks Posted September 22, 2019 Share Posted September 22, 2019 10 minutes ago, welshbairn said: Not sure if your Tuesday Airline allows it, but if like some you can hold a booking for 24 hours before confirming and paying, it could be worth it. The fares could shoot up tomorrow if Cook's goes tits up tonight and you could cancel it if they don't. It's via BA so not sure - I also am going on the basis that not a lot of people will be booking into Miami as an alternative to Orlando due to it being so far away. 0 Quote Link to comment Share on other sites More sharing options...
Boghead ranter Posted September 22, 2019 Share Posted September 22, 2019 (edited) 8 hours ago, DeeTillEhDeh said: If they don't get a deal they will go into administration early on Monday morning - they can't go into administration unless all their planes are on the ground. 40 minutes ago, welshbairn said: Heard that if today's talks fail the announcement will wait till the early hours when their planes are on the ground. Not sure there ever IS a point where ALL their planes are on the ground at the same time (When you include Condor, who are part of TCX). But they'll get as close to it as they can. Edited September 22, 2019 by Boghead ranter 0 Quote Link to comment Share on other sites More sharing options...
Bishop Briggs Posted September 22, 2019 Share Posted September 22, 2019 34 minutes ago, DeeTillEhDeh said: It seems that there could be a loan facility (on commercial rates) but not a direct capital injection. I read yesterday that RBS was seeking a direct equity injection. If the company was capable of borrowing more at commercial rates , the banks would offer such a loan facility. If Fosun or the other shareholders won't put in more cash, why should the British Government step in? 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 22, 2019 Share Posted September 22, 2019 (edited) 30 minutes ago, djchapsticks said: It's via BA so not sure - I also am going on the basis that not a lot of people will be booking into Miami as an alternative to Orlando due to it being so far away. Don't think BA let you do that anyway. Wouldn't hang about if you get bad news tonight though. Edited September 22, 2019 by welshbairn 0 Quote Link to comment Share on other sites More sharing options...
djchapsticks Posted September 22, 2019 Share Posted September 22, 2019 CEO not saying much after leaving the meeting today. Can't say I blame them for not talking to the press after the way some of them have behaved in last few days with the level of sensationalism they've stirred up. 0 Quote Link to comment Share on other sites More sharing options...
DeeTillEhDeh Posted September 22, 2019 Share Posted September 22, 2019 Not sure there ever IS a point where ALL their planes are on the ground at the same time (When you include Condor, who are part of TCX). But they'll get as close to it as they can. Apparently there is a golden hour where they will be mostly grounded. I just hope they can sort things out quickly one way or other so we can at least know what to do. I'm resigned to having to look for another holiday and paying over the odds for it. We just can't do anything until an official announcement is made and, even then will need to look for the advice in the CAA website. https://www.caa.co.uk/ATOL-protection/Make-an-ATOL-claim/Making-an-ATOL-claim/ Because this is different for every company then the advice given will be different. It will appear on the web page below if the worst happens: https://www.caa.co.uk/ATOL-protection/Make-an-ATOL-claim/Latest-ATOL-holder-failures/ 0 Quote Link to comment Share on other sites More sharing options...
djchapsticks Posted September 22, 2019 Share Posted September 22, 2019 I've managed to drag a non-stock answer from their customer care team. Folk have picked up on this... 0 Quote Link to comment Share on other sites More sharing options...
DeeTillEhDeh Posted September 22, 2019 Share Posted September 22, 2019 CEO not saying much after leaving the meeting today. Can't say I blame them for not talking to the press after the way some of them have behaved in last few days with the level of sensationalism they've stirred up.The media have been appealing but they have been aided and abetted by attention-seeking morons looking for their 15 minutes of fame. The woman who only has enough medication up to today but flies home tomorrow is one of the worst thickos I've seen. Absolutely no fucking sympathy to someone who doesn't even do the basics of taking more medication than you need. https://www.mirror.co.uk/news/world-news/thomas-cook-going-bust-would-20141276 Now found out that some gullible fool with more money than sense has paid for the attention-seeking phannies to be flown home. https://metro.co.uk/2019/09/22/stranger-pays-sick-woman-fly-home-thomas-cook-holiday-majorca-10786497/ 1 Quote Link to comment Share on other sites More sharing options...
djchapsticks Posted September 22, 2019 Share Posted September 22, 2019 The plane we are scheduled to be on in the morning leaves from Orlando in 2 hours and flies through the night, landing at half 5 tomorrow morning. I'm going to take it as a hopeful sign if that plane leaves tonight. 0 Quote Link to comment Share on other sites More sharing options...
Bishop Briggs Posted September 22, 2019 Share Posted September 22, 2019 38 minutes ago, djchapsticks said: The plane we are scheduled to be on in the morning leaves from Orlando in 2 hours and flies through the night, landing at half 5 tomorrow morning. I'm going to take it as a hopeful sign if that plane leaves tonight. That's a bit too optimistic as there is no sign that the Government will be involved in the deal. Your plane could be grounded after landing back in the UK - even if the negotiations are still in progress at that time. The admin announcement can wait until just before the markets open at 7am. It would be prudent to plan for that scenario. 0 Quote Link to comment Share on other sites More sharing options...
djchapsticks Posted September 22, 2019 Share Posted September 22, 2019 6 minutes ago, Bishop Briggs said: That's a bit too optimistic as there is no sign that the Government will be involved in the deal. Your plane could be grounded after landing back in the UK - even if the negotiations are still in progress at that time. The admin announcement can wait until just before the markets open at 7am. It would be prudent to plan for that scenario. At which point there will be several Thomas Cook planes already airborne. I have planned for the worst scenario, I'd just rather be optimistic for now from a purely selfish perspective that no news is good news in the immediate term. I've also not mentioned anything about government involvement. The meeting today was apparently to ask creditors to restructure their demands to Thomas Cook and to provide more operating cash. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 22, 2019 Share Posted September 22, 2019 (edited) 2 hours ago, djchapsticks said: The plane we are scheduled to be on in the morning leaves from Orlando in 2 hours and flies through the night, landing at half 5 tomorrow morning. I'm going to take it as a hopeful sign if that plane leaves tonight. Just flying over Jacksonville at 466 kts en route to GLA. Not that I'm bored or anything. Edited September 22, 2019 by welshbairn 0 Quote Link to comment Share on other sites More sharing options...
DeeTillEhDeh Posted September 22, 2019 Share Posted September 22, 2019 You better start looking at alternative arrangements. https://www.itv.com/news/2019-09-22/thomas-cook-administration/ 0 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.