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Thomas Cook Collapse


John52

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Guest pelmetman
Fast Pat - 2019-09-23 9:59 AM

 

Profitable in 2015, what happened in 2016 that could have ruined it all....

 

"The firm's fate was sealed by a number of factors: financial, social and even meteorological.

 

As well as weather issues, and stiff competition from online travel agents and low-cost airlines, there were other disruptive factors, including political unrest around the world.

 

In addition, many holidaymakers had become used to putting together their own holidays and not using travel agents."

 

https://www.bbc.co.uk/news/business-46452374

 

;-) ..........

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n 2019, Thomas Cook said British customers were postponing travel plans for the summer because of worsening uncertainty around Brexit – and the way it has hit sterling’s buying power abroad.

https://www.theguardian.com/business/2019/sep/23/thomas-cook-as-the-world-turned-the-sun-ceased-to-shine-on-venerable-tour-operator

Clearly they had other problems as we all do. I did not say Brexit was their only problem. I said it pushed them over the edge.

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Fast Pat - 2019-09-23 9:59 AM

 

Profitable in 2015, what happened in 2016 that could have ruined it all....

Typically the top brass coined it and walked away with £millions in bonuses for bankrupting the business.

 

https://www.thisismoney.co.uk/money/news/article-7489655/Bosses-rake-20m-Thomas-Cook-faces-ruin.html

 

I feel for the 9,000 employees now without a job. No fat bonuses for them either.

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