Thomas Cook

They adopt the same approach ... fund the airline until such time as everyone is back home ... stop lining the pockets of other companies using taxpayers cash .

They just announced on BBC News that they had 500,000 of forward bookings.

So the government do that to 3 airlines, then a cruise ship company and a windfarm or 2, the buses need help as well oh and trains...… where does it stop ? It was a very poorly run company that ran out of money. It is far too simplistic to say keep running TC until everyone is home.
 
No matter how good their order book is the fact is they are failing as a business by not making profits.
The banks recognise this and are calling in their loans before the debt gets bigger and they lose even more money.
I have no idea where their losses occur but managements job was to make profits not to be busy fools filling ones order books with loss making flights.
If the market place requires low prices then they should have cut their costs or they are in the wrong sector of business. To expect the banks or the government to cover for their inability to understand their jobs is not the way it works.
 
So the government do that to 3 airlines, then a cruise ship company and a windfarm or 2, the buses need help as well oh and trains...… where does it stop ? It was a very poorly run company that ran out of money. It is far too simplistic to say keep running TC until everyone is home.

Was it poorly run, or was it as in most cases the unacceptable side of capitalism, i.e.
1-Buy a company with the banks cash
2-Cut costs thus hurting the operation, to make the company look like EBITDA is soring increasing the asset.
3-Leverage the company and pocket all the cash.
4-Sell the company
5-The company now struggles to pay loans and goes bust.
6-The tax payer pays.
 
I noticed the union who wanted the tax payers to put £200 million in , didn't offer to put any of their own cash in
 
Fair enough about the Fosun deal not going through, but aren't they saying it's now £100 million to get everyone home?

TC have had problems for years, and while I'm not saying it's had no impact, blaming Brexit is just deflection tactics. It seems to me that a lot of their issues are down to mismanagement


Getting everyone home isn't just it tho.... its the additional funds required to shore up ATOL as well so anticipated final cost to taxpayer £600 million
 
No matter how good their order book is the fact is they are failing as a business by not making profits.
The banks recognise this and are calling in their loans before the debt gets bigger and they lose even more money.
I have no idea where their losses occur but managements job was to make profits not to be busy fools filling ones order books with loss making flights.
If the market place requires low prices then they should have cut their costs or they are in the wrong sector of business. To expect the banks or the government to cover for their inability to understand their jobs is not the way it works.

I don’t know enough about how Tommy Cook’s business to say if the Government could or couldn’t have done more to help them. I doubt anyone does on here? However, your comment about it’s not the “way it works” is inaccurate. The banks that have pulled the plug on Tommy Cook’s were themselves bailed out by the Government.

I’m more interested in the staff than political political arguments.
 

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