Worried about Thomas Cook?

ellawood

Hi we have booked a holiday for next year and have nearly paid it off what should we do finish paying for it for not

richardw

ellawood wrote: »

Hi we have booked a holiday for next year and have nearly paid it off what should we do finish paying for it for not

Is it a Thomas Cook Tour operator package holiday?

bombini

I have a holiday and wedding booked through Thomas Cook for next May.

I am mostly concerned about the wedding package. It costs £1000, for a deluxe TC wedding package and this includes things like ceremony fees, photographer, flowers, etc. If they do go bust is the wedding package also covered ?

I have yet to take out wedding insurance (Something I am going to do asap) will this also cover me ?

Mike.Stones_Co-op_Travel

Thomas Cook is not broke! It will probably make £300 million this year. If it ends up with an "overdraft" of £990 million, then that is less than 4 years income. I am sure many of you fellow MSE have a mortgage plus debts equalling 4 years of your salary.

What matters, is whether you can make the payments on the loan. Thomas Cook operates in many different countries, and has assets of £6,000 million - 6 times the amount it is borrowing.

It is a profitable business, fully bonded, and will continue to function! I have shown my faith by buying 5,000 shares yesterday, even though their High Street shops are often an annoying competitor to my own business!

Mike.Stones_Co-op_Travel

cyril2011 wrote: »

i put £200 down on a holiday, i really cant be bothered to see what the outcome is and having to wait months for a refund from atol, could i demand a refund now?

No, the Company is trading normally, and normal cancellation conditions apply.

Thomas Cook is not broke! It will probably make £300 million this year. If it ends up with an "overdraft" of £990 million, then that is less than 4 years income. I am sure many of you fellow MSE have a mortgage plus debts equalling 4 years of your salary.

What matters, is whether you can make the payments on the loan. Thomas Cook operates in many different countries, and has assets of £6,000 million - 6 times the amount it is borrowing.

It is a profitable business, fully bonded, and will continue to function! I have shown my faith by buying 5,000 shares yesterday, even though their High Street shops are often an annoying competitor to my own business!

Mike.Stones_Co-op_Travel

ellawood wrote: »

Hi we have booked a holiday for next year and have nearly paid it off what should we do finish paying for it for not

Yes, no need to panic. Thomas Cook is trading normally and, in any case, your holiday with them is fully bonded.

Grumpelstiltskin

Mike have you got permission from MSE to post?

I refer you to this section of the Forum Rules.

http://www.moneysavingexpert.com/site/forum-faqs#companies

BTW Correct me if I am wrong but I thought Thomas Cook had bought Co-op Travel, so are you an employee of Thomas Cook?

budgetflyer

Mike.Stones_Co-op_Travel wrote: »

I have shown my faith by buying 5,000 shares yesterday!

Whilst many investors were ditching theirs.You will either make a killing or it will be money down the pan.
Whether they are asset strong or not is irrelevant at the moment, because what they don't have is the public's confidence.
Without that they are not going to sell many holidays or flights. People are also reluctant to pay their final balances. If they can't get money in, they don't have a business.

Quentin

Mike.Stones_Co-op_Travel wrote: »

Yes, no need to panic. Thomas Cook is trading normally and, in any case, your holiday with them is fully bonded.

"Fully Bonded" was not much help to people who were about to go away when xl went bust - they did get their money back but not for many months, and all the other airlines put up their prices anyway as they had a sudden rush for their remaining seats!

Why take the risk with TC?

And you break the MSE rules by advertising your company name in your name!

V0ddy

richardw wrote: »

Sometimes if you book a BA flight through an agent, the money for the flight is paid direct, perhaps check a bank or card statement.

I booked the February 2012, New York trip online via Thomas Cook, back in June. I've checked my credit card statement and it all on one payment & says "WWTE Reservation". After doing a bit of a Google it seems this is part of the Expedia group! I think I will contact BA just to check if they've been paid by Thomas Cook (or anyone else) yet!