Thomas Cook in trouble
Nov 22, 2011, 3:36 am
#1
Original Poster
Join Date: Apr 2008
Location: Bridport, Dorset
Programs: Mucci, BA Blue, Hilton Gold, Virgin Red
Posts: 2,143
Thomas Cook in trouble
Thomas Cook is the UK's second largest tour operator, owning brands from Airtours, Club 18-30 and Sunset, through to Elegant Resorts., Netflights and Cresta Holidays.
• Tour operator says trading has 'deteriorated' in recent months
• More short-term borrowing sought to cover Christmas period
• Shares tumble more than 50% on news
• Release of full-year results delayed
Shares closed at 41.11 yesterday, currently trading at 13.57. A fall of 67%
Story
• Tour operator says trading has 'deteriorated' in recent months
• More short-term borrowing sought to cover Christmas period
• Shares tumble more than 50% on news
• Release of full-year results delayed
Shares closed at 41.11 yesterday, currently trading at 13.57. A fall of 67%
Story
Last edited by Sealink; Nov 22, 2011 at 3:44 am
Nov 22, 2011, 3:10 pm
#3
FlyerTalk Evangelist
Join Date: Aug 2007
Location: UK
Posts: 10,709
Thomas cook is a good brand name, it will survive.
The problem isnt the type of holidays but how the people buy it. Not enough people are going down to the high street. Instead they are buying their holidays on the internet. Also more people are booking in a few months before a holiday. These days it seems the older people book in advance and seem to know what they are doing during a month.
Also the trouble in Africa & flooding in Thailand has caused some down turn in their business.
The CEO has left, with a £1 million pay off. He has done so well. Shame the staff and shareholders havent fared as well.
The problem isnt the type of holidays but how the people buy it. Not enough people are going down to the high street. Instead they are buying their holidays on the internet. Also more people are booking in a few months before a holiday. These days it seems the older people book in advance and seem to know what they are doing during a month.
Also the trouble in Africa & flooding in Thailand has caused some down turn in their business.
The CEO has left, with a £1 million pay off. He has done so well. Shame the staff and shareholders havent fared as well.
Nov 22, 2011, 8:13 pm
#4
Suspended
Join Date: Jan 2010
Location: Calgary, Alberta
Programs: Hyatt Diamond, Fairmont Platinum, Aeroplan Diamond, HHonors Gold, SPG Gold
Posts: 18,686
concur.. Thomas Cook has a good name..
Unfortunately with the airline industry always cutting commissions and costs, it seems that the TA agencies is a dying breed.
Unfortunately with the airline industry always cutting commissions and costs, it seems that the TA agencies is a dying breed.