Thomas Cook Collapses

[ozfflyer]

the winners & the losers ...…...

are condor next to go ?

Fallout From Thomas Cook's Demise Will Reach Far and Wide in Travel

One of Europe’s biggest travel companies is no more and the damage it leaves in its wake is likely to take some time to clear. After weeks of speculation,

skift.com

 

[Quickstatus]

Huge amounts of money involved in the middle man business. I think the holidaying public will be the winners. Perhaps now more of discount will go to the consumer.

Same reason I refuse to book anything via aggregators like booking.com etc. I can often get a better deal going direct. And if I get the same deal at least the service provider gets to keep more of the profit

I go to Wagga several times a year. The motel I stay at gives me a slightly better price when I call to book. They are happy as am I.

 

[tgh]

Booking.com treat their suppliers dreadfully.
The small operators are screwed right left and centre

 

[drron]

Though when you are booking hotels in smaller places in Japan if you go to the hotels english website if they have one they invariably send you to a site like booking.com or agoda.

 

[Quickstatus]

They are too big to fob off unfortunately.

 

[VulpesVulpes]

Bugger! my mate called today and one of our flights on a weekend away soon is with TC. I thought we had avoided it!

Annoyingly alternative flights don't line up for this trip and scheduling, and we've already paid for hotels and flight in the other direction.

Even with insurance (I'm one of the few) it's a total stitch up.

This goes to show the downside and how silly the "never book the whole package with one supplier" sentiment is.

I am often amused by misguided things members say around here from that to "never use a travel agent" and I'm just waiting for someone to say "never book on a day that ends in Y" but then again most around here only really fly SYD-MEL & SYD-DPS in Y

 

[sinophile888]

but then again most around here only really fly SYD-MEL & SYD-DPS in Y

I have never flown either.

 

[Cruiser Elite]

but then again most around here only really fly SYD-MEL & SYD-DPS in Y - seriously?

 

[p--and--t]

Looks like Condor has been brought back from the brink of death, at least temporarily

Germany throws Thomas Cook subsidiary a €380m lifeline

Frankfurt-based airline Condor offered bridging loan after collapse of parent company

www.theguardian.com

 

[MEL_Traveller]

Yes, but places like booking.com are one of the few OTAs that typically have fu

Looks like Condor has been brought back from the brink of death, at least temporarily

Germany throws Thomas Cook subsidiary a €380m lifeline

Frankfurt-based airline Condor offered bridging loan after collapse of parent company

www.theguardian.com

I reported upthread, Condor is profitable... not even close to ‘near death’. It’s cash reserves were - allegedly - used by parent company, Thomas Cook.

 

[ozfflyer]

Booking.com treat their suppliers dreadfully.
The small operators are screwed right left and centre

luckily big booking sites like this don't work in snow resorts. You might save $5 on acocmmodations, but get no deal on lift tickets. AU travel agents(not online ones) can get you massive savings on lift tickets, that you can't get online. Talking 75 to 95% off the prices at the resort, which you can't get going direct.

 

[p--and--t]

I reported upthread, Condor is profitable... not even close to ‘near death’. It’s cash reserves were - allegedly - used by parent company, Thomas Cook.

If all was honky dory, why did they need a government bailout? i.e. a government bailout usually comes when the banks won't lend, so no government bailout and they are doomed?

What have I missed?

Edit: it seems like, despite them as an individual unit being profitable, there was a serious risk of them going down with the group.

 

[drron]

It seems huge problems in Spain.

500 Spain hotels 'to close immediately' after Thomas Cook fall: industry

Hundreds of hotels in Spain are facing imminent closure over the collapse of British travel giant Thomas Cook, the head of the Spanish hotel federation warned on Monday. "There are 500 hotels which are going to close immediately due to the collapse of Thomas Cook and the situation could get...

news.yahoo.com

 

[OATEK]

It seems huge problems in Spain.

500 Spain hotels 'to close immediately' after Thomas Cook fall: industry

Hundreds of hotels in Spain are facing imminent closure over the collapse of British travel giant Thomas Cook, the head of the Spanish hotel federation warned on Monday. "There are 500 hotels which are going to close immediately due to the collapse of Thomas Cook and the situation could get...

news.yahoo.com

Even allowing for some hyperbole, it is a tragic set of circumstances for Spanish hotels and the local communities. No doubt some similar stories yet to emerge from other TC destinations.

 

[Jacques Vert]

Even allowing for some hyperbole, it is a tragic set of circumstances for Spanish hotels and the local communities. No doubt some similar stories yet to emerge from other TC destinations.

Greece will be one of those; as if they haven't had it tough enough over recent years

 

[UP4014]

In a high volume low margin business you need excellent systems that tell you each day where you are at.

If you need to sell $5m in sales each day to cover costs and you are doing $5.5m and then have a few days of $4.9 you need to know straight away and take some action.

If it takes you a week to find out you’re done for.

The thing with sales in this type of business with high volume you may only need to move by a couple of % and you can turn the $4.9m to $5.1m.

But you need to know which lever to pull as fast as you can.

 

[drron]

Indeed.

Greece's Damage From Thomas Cook Collapse To Exceed €500 Million - GreekReporter.com

Monday’s shocking announcement that the British tourism giant Thomas Cook had collapsed has sparked fears across Europe in the countries where the firm had booked thousands of accommodations and tours, among which Greece holds a prominent place. According to the country’s Tourism Minister Harris...

greece.greekreporter.com

Impact of Thomas Cook Collapse on Crete - Governor | GTP Headlines

Crete Regional Governor Stavros Arnaoutakis informed Tourism Minister Harry Theoharis on the impact of Thomas Cook’s collapse on the island’s businesses.

news.gtp.gr

Plus others around the Mediterranean.

Turkey orders hotels not to evict tourists after Thomas Cook's collapse

Tourism ministry says it will support businesses hit by operator's bankruptcy, with Tunisia and Egypt also among those affected

www.middleeasteye.net

Amazing how many other companies were part of thomas cook.

Other brands that could be affected if Thomas Cook collapses

The travel company could go bust as early as this weekend.

metro.co.uk

 

[MEL_Traveller]

In a high volume low margin business you need excellent systems that tell you each day where you are at.

If you need to sell $5m in sales each day to cover costs and you are doing $5.5m and then have a few days of $4.9 you need to know straight away and take some action.

If it takes you a week to find out you’re done for.

The thing with sales in this type of business with high volume you may only need to move by a couple of % and you can turn the $4.9m to $5.1m.

But you need to know which lever to pull as fast as you can.

Indeed! But the travel industry is a rare beast. How many airlines trade at huge losses for years on end before finally making a profit? It must be worth it somewhere in the chain for them to look at potential future earnings?

 

[Jacques Vert]

Greece will be one of those; as if they haven't had it tough enough over recent years

And the discounts begin. This one is from Aegean:

Plan your next trip to Greece with 30% off!​

The offer is valid for direct flights from/to all international destinations between 01/03/2020 – 26/09/2020.​

I feel there are going to be a lot more of these.

 

[drron]

But my next trip to Greece is October 2020.