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Thomas Cook ......GONE.

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Tredegar Boy:
The Spanish government are calling the demise of TC a disaster for their hotel industry. It's going to be tough for quite a few resorts. Who can you see plugging the TC gap.
I know Virgin are interested in some of the TC airport slots but I can't see them taking up the hotel vacancies

geordieborn:
Not too sure if it is quite simply a case of “x” number go on holiday to “y” number of places and that will continue in the long run. In the meantime I’m sure the vultures will come looking to buy cheap slots, aircraft, staff and the likes and gain from it all.
Those Spanish hotels that have locked people out of their rooms should be named and shamed, along with full praise going to those that simply continue to ensure those folks on holiday with them just now see little difference and enjoy it as much as possible.

RedroseMax:

--- Quote from: geordieborn on September 25, 2019, 07:51:31 PM ---Not too sure if it is quite simply a case of “x” number go on holiday to “y” number of places and that will continue in the long run. In the meantime I’m sure the vultures will come looking to buy cheap slots, aircraft, staff and the likes and gain from it all.
Those Spanish hotels that have locked people out of their rooms should be named and shamed, along with full praise going to those that simply continue to ensure those folks on holiday with them just now see little difference and enjoy it as much as possible.

--- End quote ---

Good call that, there should be a website dedicated to these things, if there isnt already that is

Jimbo:
I sympathise with all involved, apart from the Directors of TC, who took huge bonuses and salaries when the company was losing millions. Ask anybody who had a TC apartment block in Agios Stefanos or globally what they think, and they'll tell you that TC paid at least 90 days in arrears. In an area like Corfu, with about a six month season, that would currently mean - since you're not going to get your last payment - losing about half your income. That's a big hit; possibly a catastrophic blow. They will be paid eventually by ABTA/ATOL, but eventually can be a very long time.

Most, if not all, Agios Stefanos TC apartments saw the writing on the wall and went with Jet2. On the face of it that was stupid. From TC - one of the biggest package operators in the world - to a small Yorkshire company? Daft, as we say in Yorkshire. But they rolled double-sixes.They knew TC were way behind the times, and very bad payers. And guess how many planes TC actually owned? An astonishing three! The rest were leased, and the second TC went bankrupt they reverted to the owners. Three planes are not anywhere near enough assets to cover the debt. So what about the astonishing 600 shops in the UK? Look at your local High Street - they're pretty much worthless.

At the same time it's awful that honest-to-goodness ordinary people are being chucked out of apartments.

I think - don't know if you agree - that ABTA/ATOL should state in writing to owners exactly then they will be paid. The paperwork and legal fees involved will be huge.

We should also feel a bit of sympathy for the TC flight crews. Some are stuck thousands of miles from home with no pay and no means to return. TC cabin staff were payed about £17,800 per years on average. That's about the same as an unqualified teacher.

Very sad all round.

Richard/Jackie/Nathan:
As I understand it ABTA/ATOL will only pay the property owners the amount due after TC went into administration. They will just be like any other creditors for the previous 90 days that they haven't been paid for so the situation is a lot bleaker for them then first meets the eye.

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