Thomas cook

Barbelcatcher

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No, mismanagement should never be rewarded by bail-outs. You wouldn't, expect it for, say, smaller building firms so why for larger firms. Their management is large enough for risk and/ or proper accountants, so I have no sympathy.
 

Wise Owl

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Either way we go on holiday or they Give us 1600 quid back im not Bothered (y)
 

tunna

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we are supposed to be going to Zante, Monday with Thomas Cook :(:(:( not looking good is it.
 

Chervil

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In two minds over this. If the company goes bust and the CAA have to fly them back, will the tax payer be paying for it? If the cost will be close to, or over £200 million, then you might as well use the money to bail them out.
 

Silverfisher

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I don’t know if it’s the airline that’s struggling or the travel agent/package holiday side but if it’s the latter I’m not surprised. Saw a stat the other day that said only 1 in 5 people use travel agents these days given that it’s cheaper and often easier to sort holidays yourself now.
 

The Landlord

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Landlady has booked two weeks in Turkey with the grandkids for next Summer via Thos Cook. Fortunately she's only paid £100 'odd deposit.
 

Gwillim

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In two minds over this. If the company goes bust and the CAA have to fly them back, will the tax payer be paying for it? If the cost will be close to, or over £200 million, then you might as well use the money to bail them out.
The news said that the bailout would cost 200mill but the cost of repatriation would likely be 3 x that, when asked why that would be the case the "expert" explained that there would be a lot of other associated costs involved other than just flights because of hotel costs and so on as they wouldn't be able to just fly everyone home instantly and that Thomas Cook have over 100 planes in the air at any given time. So if its going to cost the country that much they might as well bail them out as it would be the cheapest option.
 

gingert76

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they shouldnt be bailed out as bad business practice is exactly that and it will happen again, even if bailed out they will have to massively transform the business and digitise it to survive which will mean lots of redundancies anyway, also as has been said before the days of the travel agent are fast dissapearing which will mean lots of shops need to close anyway as well, either way the government shouldnt bail them out but i do feel sorry for all that will lose out, especially people with just flights booked with TC which are not ATOL covered and those with holidays booked in the very near future who will struggle to find replacements
 

Silverfisher

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If they do survive they should keep the airline but do away with the travel agent business. At the end of the day people need planes to go most places abroad but they don't need someone to sort their whole holiday out for them. Surely any travel agent company these days (as in the ones with physical stores) is just flogging a dead horse with it all being doable on the Internet. Especially since the brexit vote ruined the pound which is making holidays more expensive as it is let alone giving more away just for someone to click a few buttons for you. The only thing the stores are still handy for is to get money but most banks and supermarkets do foreign currency these days anyway and if a gap in the market appeared I'm sure more would do it as well.
 

Blanks

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No bailout in my opinion, if the holiday makers have to be flown back they should pay out of their own pocket! No one forced them to go on holiday it's their own misadventure, if they are bailed out all the rest of us tax payers should get a cheque through the post to the average value of the bailout.
As to the Thomas cook, let them go bust, they have made enough money over the decades to fly these holiday makers back.
:(
 

Neil ofthe nene

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IMHO a bale out should only be offered if there is some likelihood that the company can be turned around and the money repaid within a reasonable timescale.

Given that the current management seem to have run the company into the ground I would suggest there is little chance of them trading out of the mess.

No doubt also that the directors will still retain their multi million remuneration packages. That is the thing that insults the staff who will lose their jobs with no pay off.

However with 19 million customers per year no doubt another company or companies will take the rump of the company over to access those customers and hopefully take on TC staff to service them.

"Thomas Cook, one of the world's largest travel companies, was founded in 1841 to operate temperance day trips, and now has annual sales of £9bn. It employs 22,000 staff, 9,000 of those in the UK and serves 19 million customers a year in 16 different countries." (BBC News)

Those numbers of course beg the question of how badly do you have to run the company to send it crashing?
 

templegater

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In greece (parga) at the moment. Should fly back with Thomas Cook next Sunday. Should be interesting.
 

Dave

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Personally I would like to see the UK government bail out TC on this occasion as it affects so many normal everyday people, not just a few elite.
Financially it makes more sense to do so than to spend three fold repatriating those still overseas.
Some would argue that it's tax payer's money being used, to some degree that is true, but it's monies we've already paid and monies that would be spent elsewhere, not least on foreign aid projects ;)
 
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