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Thomas Cook getting sevco'd


Romeo

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1 hour ago, Romeo said:

I'm no financial expert but something has gone wrong here.

 

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The massive loss in 2019 was due to the huge write down, over £1 billion, in the value of MyTravel. Thomas Cook was bought by C&N Touristic in 2001. It subsequently merged with MyTravel in 2007.

Arcandor, a German conglomerate, owned 52% of the shares after the merger. It went bust in 2009 and Its shares in Thomas Cook were sold off. Thomas Cook needed a massive capital injection in 2011/12 (IIRC) to avoid bankruptcy.

And Labour wanted the Government to put £250 million of taxpayers money (in addition to the loans from the nationalised RBS)  to bail out that basket case! 

 

 

Edited by Bishop Briggs
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Why are we spending money to fly these people back?
We keep hearing the country is full, no more immigrants.  Just cancel their passports, most of the places they are will be much nicer than the UK anyway.
100% agree, as long as I get to stay in this hotel.
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6 minutes ago, senorsoupe said:

Hedge funds grateful they didn't have to be seen spoiling a rescue bid to get their profit. Utter scum.

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2 hours ago, Bishop Briggs said:

"The operation is modelled on the successful repatriation of passengers after the collapse of Monarch Airways. The final cost of that operation to taxpayers was about £50 million. The repatriation effort with Thomas Cook is about twice the size."

Looks like he finally got some help with his sums - screengrabbed from BBC earlier

 

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1 hour ago, supermik said:

Going on holibobs in a few weeks. (Not Cookies) Booked and paid for it ages ago. Just had a look online and the same holiday is now £150 per person more. Travel companies really are compassionate chunts 😂

Could  have increased gradually, holiday prices fluctuate all the time. Mostly going up though, as the fewer hotel rooms or flight seats that there are left,  the more the price bumps up.

Supply and demand,  and all that.

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4 minutes ago, Boghead ranter said:

Could  have increased gradually, holiday prices fluctuate all the time. Mostly going up though, as the fewer hotel rooms or flight seats that there are left,  the more the price bumps up.

Supply and demand,  and all that.

This

Most prices are set through a complex set of algorithms that can fluctuate automatically based on how many bookings are taking place at any given time.  It's why less full flights are often cheaper as the departure approaches. 

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3 minutes ago, senorsoupe said:

This

Most prices are set through a complex set of algorithms that can fluctuate automatically based on how many bookings are taking place at any given time.  It's why less full flights are often cheaper as the departure approaches. 

^gets it^

Even if a particular flight or hotel is getting a lot of search hits online (& on store systems), the price can be nudged up.

Edited by Boghead ranter
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12 minutes ago, Boghead ranter said:

Could  have increased gradually, holiday prices fluctuate all the time. Mostly going up though, as the fewer hotel rooms or flight seats that there are left,  the more the price bumps up.

Supply and demand,  and all that.

I would have thought that cheaper rooms would be on the go at the moment as there will be a lot of rooms going free due to the Cook cancellations.

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2 minutes ago, Musketeer Gripweed said:

I would have thought that cheaper rooms would be on the go at the moment as there will be a lot of rooms going free due to the Cook cancellations.

True, I was meaning more in @supermik's example, the price may not necessarily have increased in the last 24 hours, it might have increased over the last few weeks.

Unless he's been checking every day, like for cheese in a fridge....

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5 minutes ago, Musketeer Gripweed said:

I would have thought that cheaper rooms would be on the go at the moment as there will be a lot of rooms going free due to the Cook cancellations.

Probably balanced by flight prices going up after last night.

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True, I was meaning more in [mention=33816]supermik[/mention]'s example, the price may not necessarily have increased in the last 24 hours, it might have increased over the last few weeks.
Unless he's been checking every day, like for cheese in a fridge....
Prices were already increasing over the weekend - the holiday I got was around £50 per person more expensive than the corresponding time the previous week.
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17 hours ago, PB1994 said:

I did have a look and couldn’t see anything that would suggest it would be a problem. No payed with my bank card, which in hindsight was another mistake.

Speak to your bank. There is some level of compensation for people paying with Debit cards, I got money back for goods that a company took the money for but never sent. I don't know the full terms of what they cover though. 

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32 minutes ago, Jambomo said:

Speak to your bank. There is some level of compensation for people paying with Debit cards, I got money back for goods that a company took the money for but never sent. I don't know the full terms of what they cover though. 

Aye, it's called chargeback. Some info here. Hadn't heard of it before.

https://www.moneysavingexpert.com/shopping/visa-mastercard-chargeback/

Edited by welshbairn
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13 hours ago, Inanimate Carbon Rod said:


Im in Orlando just now with Virgin Holidays. Lots of panicked folks around. Ive done the Orlando to Miami drive and its a doddle down the turnpike and didnt take me 4 hours. Did you not have a look at BA Flights via tampa? Its only a 45 min drive and a very quiet airport dont think they fly on a tuesday though. The flight to miami is usually an a380 which is nice.
Hope your credit card covers the original flights, weather is fantastic here, parks very quiet and im sure you’ll have a brilliant time, hope you all enjoy yourselves.

No idea why you would be panicking if you are on holiday and the tour company goes bust unlless for medical reasons etc. More time on holiday and a solid reason for not showing up at work.

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