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Thomas Cook

A shame if they go down. I'm old enough to remember when it was owned by the UK Govt. and was the official Govt travel agent. It was highly profitable.
 
Discussed on R4 this morning, the cost to the UK government to rescue the business (short term.....), would be less than the cost of repatriation for all the customers currently abroad. A p-poor argument if ever there was one IMO, accountants of any and all stripe would never fall for that one.

Apparently, their type of business is coming back into fashion - total care package, pay and forget, because of all the political and terrorist hassles across the world. Or so they claimed.

The last that I heard, some few months back, was that they were about to be bought by a Chinese company who saw the name and expertise as very attractive for the mushrooming Chinese travel market. Maybe that did not happen, but if it did, why aren't they divvying-up?
 
I thought it was summat like £200m to save the company so that it can pay its way continue to earn money and pay future taxes. Or let TC go bust then pay £600m to bring everyone home etc and the gov gets no more future taxes and puts loads of people out of work.

What would you do?

Cheers,

DV
 
£200M just sees them through this winter.

There is also the assumption that the UK gov't will pick up the repatriation bill, as they did when Monarch(?) went to the wall, rather than leaving ABTA to do precisely what it was set-up to do.

Life is NEVER simple...…..if only crystal balls actually worked...…………….
 
Darth Vader said:
I thought it was summat like £200m to save the company so that it can pay its way continue to earn money and pay future taxes. Or let TC go bust then pay £600m to bring everyone home etc and the gov gets no more future taxes and puts loads of people out of work.

What would you do?

Cheers,

DV
Click to expand...
So because there is scale, it is more appropriate? I'd rather see the 200 million go to helping SMEs avoid going under. You get less bullshit from SMEs, like 'all of our agents are helping other customers...'
 
thebiglebowski said:
Jokes aside that photo makes me embarrassed to be British.

(and I'm someone with tattoos who gets sunburnt under a lightbulb)
Click to expand...

How long do you reckon the guy on the right actually spent in the Guards Chris? Long enough to learn how to bull his boots properly? Or did his full 22 and reached the heady rank of Lance Jack?
 
Darth Vader said:
I thought it was summat like £200m to save the company so that it can pay its way continue to earn money and pay future taxes. Or let TC go bust then pay £600m to bring everyone home etc and the gov gets no more future taxes and puts loads of people out of work.

What would you do?

Cheers,

DV
Click to expand...


I would check the figures first.
 
Most business’ go pear shaped due to tax owing. The government take their share before anyone else despite other business’ also going to the wall as a result. There seems to be a total disconnect.
 
How can a company go bust turning over 9bn annually, for the sake of perhaps 1bn up front? It doesn't add up
 
I suppose it is that time of year - old chestnuts aplenty, raining down.

Everybody just LOVES to spend government income, BUT wants to pay no more taxes. Always a guaranteed recipe every time something going bust comes up.
I suppose we will now get the "soak the rich" argument - more insane economics and accounting. The VAST majority of tax income, comes from Joe Average, even if "the rich" were dumb enough to stay to pay it, even 90% taxes on the rich would account for next to no income for the exchequer.

https://assets.publishing.service.g...-below-average-income-1994-1995-2017-2018.pdf

I could have a turnover of £135628343794946 trillion a year, but if it generated no significant profit, where would I go? I'd go bust.
 
The £200 million is just to bring the buyers who are stumping up £600 million back to the table.

And flight only passengers of the airline are not covered by ATOL or ABTA or most travel insurance policies.
 
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