FlyerTalk Forums - View Single Post - Thomas Cook Enters Compulsory Liquidation
Old Sep 22, 19, 11:23 pm
  #14  
notquiteaff
 
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Originally Posted by iflyjetz View Post
Wow. I hadn't heard anything about them having financial difficulties. Makes one wonder how many more European airlines are teetering on the edge of insolvency.
They are/were more than an airline. I don’t have the breakdown, but I would guess the bulk of their business was packaged holidays. Their financial difficulties have been known for years. I think there are at least four airline subsidiaries... Thomas Cook UK, Thomas Cook Balearics, Thomas Cook Scandinavia, and Condor (Germany). According to media reports, all or some of the airlines themselves were actually profitable, but the packaged holiday business was dragging everything down due to an outdated business model relying heavily on brick and mortar travel agencies.

For now, at least Condor continues to operate. The UK airline has ceased operations. Not sure about the other two.
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