thomas cook hmmmm

[amca]

Some financial difficulties being reported today.
I do not want to start a panic but I would be using a credit card if booking today.
Check it out for yourself if it interests you.

[Scunner]

Yes indeed - definitely pay the credit card surcharge: http://www.guardian.co.uk/business/2011/nov/22/thomas-cook-shares-halve-bank-talks?newsfeed=true

[sunlover]

Looks to me like another one going down:(

[stoop]

I can't see them going down (famous last words) but I can see them having a massive shake up of their business. They now own Coop Travel as well so I can see many jobs going and shops closing.

More worries for the industry as fuel prices set to rise again soon. Also very bad news for us punters as if they do go under it will be less competition for the others - which will mean prices will continue to rise.

[kizkucuk]

Mmm seem to remember some debt shifting to other countries and a bit of a restructure with some bits closed down 18 months ish ago not to mention Manny Fontenla-Novoa one of the most respected men in the travel industry quitting his job in August of this year.  Not long after Goldtrail ceased trading someone who works as ground staff at Gatwick told me that the general word around was that Thomas Cook were at risk - most people I've spoken to have dimissed the claim saying that the company is too big to fail. Hopefully they can pull through this - they have been a part of the UK travel industry for a very long time and it will be a sad day if they do fail.  My Dad had a saying - "the bigger they are the harder they fall" - so credit cards for making payment and comprehensive holiday insurance that covers failure of tour operator/airline.

PS - 1808 Thomas Cook is born on 22 November in the village of Melbourne in Derbyshire  - one hell of a birthday announcement!

[Scunner]

Shares opened at around 40p, between 08:00 this morning and now they have lost 67.96% and are now at around 13p. Not as bad as mid morning where they went below 10p...

[loz]

Maybe the time is right to buy shares an wait for Stelios to take over, now he is looking for a job

[Kentcabbie]

It dont look good, they are asking for another £100m from the banks, which will take their debts to around £1b , too much to cope with repayment wise during a recession i would think.

[tinkerman]

a bank wont lend you their umbrella if its raining

[DianeT]

It is rather worrying as they obviously have no money to update planes.
We have got home today from 2 weeks in mexico, it was a thomas cook holiday but the plane was one of the old airtours ones that has the toilets downstairs.
Following the welcome meeting when we got there we were just chatting to the rep about different holidays etc and he said that tc are actually doing away with alot of their long haul flights and using BA or Virgin instead as some of the planes are getting quite old, not very encouraging when you're sitting there thinking I've got to go home on one of them planes!