Originally Posted by MSPeconomist
(Post 31554234)
Who is Frances Coppola and why should we believe her opinion?
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Thomas Cook Insolvency Impacts at US airports
Just saw this on the evening news. Live shots from JFK and EWR; the airports looked an absolute mess. I'd never heard of this travel agency but the news said they were the oldest (& largest?) Travel Agency in the world. They ceased operations immediately cancelling all future flights and holidays. Said as many as 150,000 - 200,000 customers are stranded around the world.
Did any flyers today notice larger than normal numbers of folks stranded at other U.S. airports today? Feel horrible for these folks. NY times link: https://www.nytimes.com/2019/09/23/t...-collapse.html |
The "Byzantine Empire" of travel has finally collapsed. I expect that the causes will provide much fodder for debate.
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The 150000 stranded figure is for UK residents only as I understand it. The global figure stranded is 600000 people. And Condor, the German airline, is (was) owned by Thomas Cook too and so they may go down as well (they are hoping for a German government investment). Condor probably has a larger US presence.
However, i don't think there is any AA relevance to this thread, so it probably should be moved to Omni. |
Originally Posted by salut0
(Post 31554226)
Indeed: it wasn’t primarily because of the media. It seems to have been their own mismanagement. See Frances Coppola’s tweets, in this thread:
https://twitter.com/frances_coppola/...274506240?s=21 And also her analysis here: https://twitter.com/frances_coppola/...405326848?s=21 |
This article looks pertinent in this thread. It looks like Citibank is decreasing benefits for cardholders. I wouldn't be surprised to see other credit card issuers in the US to follow suit.
https://awardwallet.com/blog/citi-cu...tent=learnmore |
Originally Posted by iflyjetz
(Post 31555873)
US consumers do not have that debit card protection, which is why I've used credit cards to purchase airline tickets in Europe in spite of higher fees for using a credit card.
That's true for US issued debit cards. I'm not sure that can be used as a blanket statement for the rest of the world; I wouldn't be surprised if all of Europe has better debit card protections than the US. The only reason to use a DC is if one must travel and one lacks the credit worthiness for a CC. |
I was asking from the perspective of major crowds stranded at any other US airports. (Flying DCA - DFW - HNL tomorrow).
Don't know anything about the company or their places of operations. The videos from JFK and EWR looked at a sea of misery. If it's not really relevant / an impact outside of the NY airports or to those traveling on AA through them or others, I'm fine with the thread going bye-bye. :-) |
Originally Posted by SeattleDavid
(Post 31555968)
However, i don't think there is any AA relevance to this thread, so it probably should be moved to Omni.
https://en.wikipedia.org/wiki/Thomas_Cook_Group A big market for TC was selling packaged holidays (flights & accommodation). Popular with UK people |
How could they continue to fly people out on departures with the risk of imminent bankruptcy looming? And now UK taxpayers are holding the (very large) bill, with Brexit looming as well? This seems reckless at best on the part of management, and criminally negligent at worst. Why haven't I heard more from the torch-and-pitchfork crowd looking to see heads roll? I would be incensed.
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Originally Posted by OhDoctor
(Post 31556142)
How could they continue to fly people out on departures with the risk of imminent bankruptcy looming? And now UK taxpayers are holding the (very large) bill, with Brexit looming as well? This seems reckless at best on the part of management, and criminally negligent at worst. Why haven't I heard more from the torch-and-pitchfork crowd looking to see heads roll? I would be incensed.
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If they were to stop carrying passengers on (only) the outbound portions of trips, they would be out of business almost instantly.
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Originally Posted by MSPeconomist
(Post 31556199)
If they were to stop carrying passengers on (only) the outbound portions of trips, they would be out of business almost instantly.
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It's like a band aid doc, there is no slow removing, you rip it off...:p
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Originally Posted by OhDoctor
(Post 31556142)
How could they continue to fly people out on departures with the risk of imminent bankruptcy looming? And now UK taxpayers are holding the (very large) bill, with Brexit looming as well? This seems reckless at best on the part of management, and criminally negligent at worst. Why haven't I heard more from the torch-and-pitchfork crowd looking to see heads roll? I would be incensed.
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