Thomas Cook in Financial Trouble
22-11-2011, 14:27
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#1
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To Fly, To Serve
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Thomas Cook in Financial Trouble
Thomas Cook Group plc shares fell 75% when they announced it was in talks with banks about increasing the amount of money it can borrow.
http://www.bbc.co.uk/news/business-15832438
They blame political unrest in Egypt and Tunisia, floods in Thailand anf Government Cuts (in general the ecnomy)
So what I want to ask is the end of Thomas Cook?
or will it surrvive
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22-11-2011, 14:47
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#2
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Warrington Wolves
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Re: Thomas Cook in Financial Trouble
I have a holiday booked through them in tunisia next year, Am i worried NOT in the least. It's covered by Abta.
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Last edited by Sirius; 22-11-2011 at 15:43.
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22-11-2011, 15:33
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#3
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Re: Thomas Cook in Financial Trouble
I am due to fly with Thomas Cook to Tunisia around christmas time, there is a strike planned as well
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22-11-2011, 18:14
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#4
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cf.geek
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Re: Thomas Cook in Financial Trouble
See what happens when they sign Jamie Redknapp.
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22-11-2011, 18:47
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#5
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cf.mega poster
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Re: Thomas Cook in Financial Trouble
Quote:
Originally Posted by Kingofthedead4
See what happens when they sign Jamie Redknapp.
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Could this be sign of the entertainment industry in trouble with people struggling last thing people look is holidays.
The knock on is jobs go as companies fail impacting the mess more.
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22-11-2011, 18:59
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#6
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Cable Forum Team
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Re: Thomas Cook in Financial Trouble
Quote:
Originally Posted by mertle
Could this be sign of the entertainment industry in trouble with people struggling last thing people look is holidays.
The knock on is jobs go as companies fail impacting the mess more.
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From the OP's link
Quote:
Mr Weihagen explained that trading had been particularly poor in France and Belgium, where bookings are down 20% compared with last year, and in Thomas Cook's Russian business.
"Winter travellers from Russia go to Thailand or Egypt," he said, adding that the floods in Thailand and continuing political unrest in Egypt had hit those bookings.
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22-11-2011, 19:17
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#7
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cf.mega poster
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Re: Thomas Cook in Financial Trouble
Quote:
Originally Posted by Hugh
From the OP's link
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thanks hugh but sceptical this not just the cause time will see if this tip iceberg. No doubt they had bearing but there surely more enough other destinations to ofset these.
It strikes me they was already close to the wind.
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23-11-2011, 09:19
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#8
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Shinigami & Wing
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Re: Thomas Cook in Financial Trouble
Seems they've been the architects of their own demise:
Quote:
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Less appreciated is the extent to which Thomas Cook, under chief executive Manny Fontenla-Novoa, shot itself in the foot via an appallingly timed share buy-back and an acquisition spree.
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More background
I wonder which lucky organisation can't wait to hire this CEO.
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23-11-2011, 11:43
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#9
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cf.geek
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Re: Thomas Cook in Financial Trouble
the companies core business was built up on cheap n cheerful package hols - now people can arrange hotels & flights themselves much cheaper so a lot of that business has gone.
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23-11-2011, 18:13
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#10
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Re: Thomas Cook in Financial Trouble
Shocking buying back shares, and then even worse doing things like buying planes.
Now what I cant see reported is what their annual profits were, as currently they losing money at a horrific rate. If their profits were low during their good years eg. sub 100m a year, then I think its game over.
The only good part of their investment was probably the online stuff, but even that looks to be overspent as they shouldnt be needing to spend 10s of millions to setup a online system.
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23-11-2011, 21:02
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#11
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Re: Thomas Cook in Financial Trouble
Is it possible that TUI Travel (owners of First Choice and Thomson) or The Co-Operative Group will make a bid because of the low share price
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24-11-2011, 12:54
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#12
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cf.geek
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Re: Thomas Cook in Financial Trouble
Quote:
Originally Posted by Alan Fry
Is it possible that TUI Travel (owners of First Choice and Thomson) or The Co-Operative Group will make a bid because of the low share price
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I doubt with TUI will be allowed to without upsetting Monopolies & Mergers - the Co-OP already sold their travel business to Cook's a couple of years ago so not sure they will be looking to get it back in a hurry as it won't be viewed as core business.
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24-11-2011, 13:46
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#13
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To Fly, To Serve
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Re: Thomas Cook in Financial Trouble
Quote:
Originally Posted by Pog66
I doubt with TUI will be allowed to without upsetting Monopolies & Mergers - the Co-OP already sold their travel business to Cook's a couple of years ago so not sure they will be looking to get it back in a hurry as it won't be viewed as core business.
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read this
http://www.e-tid.com/News-Home/TC-%E...%E2%80%99.aspx
http://www.independent.co.uk/news/bu...p-2313269.html
plus TUI AG could takeover TUI Travel
http://www.e-tid.com/News-Home/TC-%E...%E2%80%99.aspx
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30-12-2011, 15:04
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#14
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To Fly, To Serve
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Re: Thomas Cook in Financial Trouble
Could Virgin Holdidays become the white knight and buy Thomas Cook?
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30-12-2011, 15:20
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#15
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cf.mega poster
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Re: Thomas Cook in Financial Trouble
Thomas Cook is Arsenals official travel partner 
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