Thomas Cook Ceases Trading - Compulsory Liquidation (EDIT MON 23/9)

bagand96

TonyMMM wrote: »

Guardian now confirming Thomas Cook are going into in administration tonight ( officially from 3am)

The Guardian are confirming no such thing. Their headline states “Thomas Cook to collapse” but they provide no credible or factual information to back that up. They instead use the phrase “It is understood....” to make it sound like fact when they are speculating.... twice in 2 paragraphs!

It is of course looking extremely likely that Thomas Cook will enter administration. However it is not confirmed until reported to the markets by the company/administrators.

The press coverage of this has been terrible - and I include Martin Lewis’ most recent tweet in that. But of course all he and the press are interested in is saying it early to get the most re-tweets.

To anyone who’s livelihood depends on Thomas Cook - all the very best. To the sensationalist British press and all the twitterers salivating over this - maybe one day you might end up in a similar predicament...

elsien

Slight diversion from the main story, but have been reading a sob story about a "cancer patient with a limited supply of heart medication" who was panicking about getting home if there is a delay.
If you have an allegedly life threatening condition you don't decide, and I quote “I've only brought enough medication till Sunday, thinking we'll get home on Monday. I'll take it Monday when I get home... I haven't got anything.”
Some people really are too stupid to be allowed out on their own. Aside from which, I'm fairly sure Majorca does have doctors and pharmacies. Beggars belief.

bobblebob

Wouldnt it be cheaper for the CAA to keep the Thomas Cook flights running for those abroad and booked on, and pay the cabin crew and pilots themselves? Rather than pay other airlines to fly them home.

Alan_Bowen

Unfortunately, it becomes impossible to run the airline once the business is in administration. The insurance policies are void, the administrators have no experience in how to run an airline, and they are the ones in charge, and perhaps most importantly, most planes are leased and as soon as the owners realise they are not going to get paid for the rest of the contract, they repossess the planes.

candygirl

elsien wrote: »

Slight diversion from the main story, but have been reading a sob story about a "cancer patient with a limited supply of heart medication" who was panicking about getting home if there is a delay.
If you have an allegedly life threatening condition you don't decide, and I quote “I've only brought enough medication till Sunday, thinking we'll get home on Monday. I'll take it Monday when I get home... I haven't got anything.”
Some people really are too stupid to be allowed out on their own. Aside from which, I'm fairly sure Majorca does have doctors and pharmacies. Beggars belief.

And someone paid for their flight home :eek:

mgdavid

...and it's gone under....


https://www.bbc.co.uk/news/business-49791249

worldtraveller

Thomas Cook has collapsed after last-minute negotiations aimed at saving the 178-year-old holiday firm failed.

The UK Civil Aviation Authority (CAA) said the tour operator has "ceased trading with immediate effect".

It has also triggered the biggest ever peacetime repatriation aimed at bringing more than 150,000 British holidaymakers home.

Peter Fankhauser, Thomas Cook's chief executive, said the firm's collapse was a "matter of profound regret".

The tour operator's failure puts 22,000 jobs at risk worldwide, including 9,000 in the UK.

Transport Secretary Grant Shapps said the company's collapse was "very sad news for staff and holidaymakers".

He urged holidaymakers to be "understanding with staff" amid the "enormous" task of bringing people home.

Mr Shapps has announced that the government and CAA has hired dozens of charter planes to fly customers home free of charge.

The emergency operation, codenamed Operation Matterhorn, will aim to bring home Britons currently on holiday with the firm.

On Sunday, empty aircraft had already started to be flown overseas, ready to bring British tourists home on Monday.

BBC News

worldtraveller

Thomas Cook UK Plc and associated UK entities have entered Compulsory Liquidation and are now under the control of the Official Receiver.

The UK business has ceased trading with immediate effect and all future flights and holidays are cancelled.

A dedicated support service is being provided by The Civil Aviation Authority to assist customers currently overseas and those in the UK with future bookings.

Please visit: thomascook.caa.co.uk for further information.

Thomas Cook

worldtraveller

Civil Aviation Authority - Information for customers and travel businesses

https://thomascook.caa.co.uk/

Baled

I wonder how Expedia are going to handle this? With TC no more will they make arrangements to discuss hotel bookings direct with customers that TC booked on their behalf?

Where do I stand credit card section 75 wise?