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See more trades and director dealings. Play the Fantasy Share Trading Game. Please login or register to post a message on Share Chat. Looks to me that appointing Will Waggott is key to TC sorting out it’s UK and tour operating business.
He has vast experience and has obviously taken a fresh and hard look at the business and has made some immediate changes. While the loss of jobs isn’t pleasant, the shutting of stores and job cuts is a necessary. Thomas cook Actually own about 33 planes. The rest are leased for high season routes. They have not bought any new planes and the selling the airline business plans remain the same.
To sell they have to ensure that it remains a going concern, also to look after the debt holders and share holders. It would be bad business to have the customers and no planes to put them on and equally to have them sitting idle in the off months. They probably ordered the plans a year or so ago as there is a very long lead time and so were contracted to take them, where as the change in strategy to sell the airline fleet only came out in the last results. They shouldn’t have any problems selling the fleet in part or total as there are already some interested parties, but I guess it will take 6 months plus to change the path forward and to start to see the benefits. Long term this could turn out to be a great big profitable business.
Too little, too late, in my opinion. Need to sell the airline, intimated it would a month ago and now taking on new aircraft in direct contradiction. Sends out messages that they are are not quite sure what to do Sorry just my opinion. They are moving onbut it will be a gradual process. The business is being reshaped with the reduction in the old high street presence and increasing online capability and higher spec hotels etc.