Must be the largest bancruptcy in the industry…. press reports 150k people stranded, 600k who hold worthless tickets and 21k employees on the street. The question arises if such companies which become almost too big to fail should be allowed still. For something this big to go bancrupt from one day to the next is quite a blow to the credibility of the whole industry.
600k stranded all over the world. Thomas Cook owns lots of travel agencies in many countries. So, lots to do for private pilots. Let’s say a C-172 can take two persons with luggage. This means 300k flights from Greece, Spain, etc. I’m sure some has already started to fly passengers. I mean, why not. Insurance pays, and people need to get home.
The UK CAA has launched a massive repatriation program for stranded Thomas Cook passengers.
I mean, why not. Insurance pays, and people need to get home.
Zimbabwean AOC does the trick. Must dig mine out the bottom drawer.
TC has been bust since 2010 and the debt level is irrecoverable. Vultures circling and some are already sitting to mop up. One minor point. The TC carbon footprint dropped a few notches. Good for the planet.
Just takes time….
This is gonna make it even harder to get an airline pilot job, with a few k (?) qualified and current pilots spilling onto the job market.
This is gonna make it even harder to get an airline pilot job
Only if the demand simultaneously goes away. Other airlines will expand and mop them up, and there are probably older pilots for Thomas Cook (is it an actual airline or do they contract other airlines to do the flying for them?) may choose this to be a good time to retire.
The market doesn’t think the demand’s going away, while I hesitate to attribute share price moves on concrete events, EasyJet’s share price jumped 5% on the news (RyanAir not so much, but RyanAir has its own issues).
“ceased trading with immediate effect”
The last thing stranded passengers give an f about is whether Thomas Cook is trading or not.
is it an actual airline or do they contract other airlines to do the flying for them?
They have their own fleet and pilots, some I know were very junior
TC has been bust since 2010 and the debt level is irrecoverable. Vultures circling and some are already sitting to mop up.
Yeah but TC will have no real assets. Its aircraft will be leased. All it has is the brand name and some low end hotels it bought in various holiday destinations.