Tour Operators and Travel Agents

Discussions regarding Tour Operators and Travel Agents
Re: Thomas Cook
1042 Posts
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Shamus

Ring this number and ask because I don't know. 01274384658
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shamus

All the ticket desk need is your booking reference and your pasports as confirmation of who you are.

I book customers all the time who have late deals and dont have paperwork.

You will be fine, have a great holiday.
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Breaking news on the BBC website:

German retailer Arcandor, owner of Thomas Cook, files for bankrupcty.


that can't be good can it. :que
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Had a little panic when I heard this morning as we are off on our holidays with TC next week but it seems that TC in this country will not be effected. Had a look and found this link.

http://news.bbc.co.uk/1/hi/business/8091298.stm

Sarah :)
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just been reading this aswell and was going to put the same link up as yours :tup
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Oh dear even though they put up all these reassuring notices, it does make you lose confidence in even the big operators. :( I was thinking of booking with them for summer 2010 but I am going to leave it till much closer to the time I think. I hope we come out of this recession soon.
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only paid my balance off about a week ago travel in august. i know it says thomas cook is business as usual but is it they would say that regardless.
if thomas cook go bust also will i be able to get my money back paid all on my visa debit card (what a fool i should of used a credit card) its a package i booked.
i'll be worrying now for months. :(
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See Link on the Thomas Cook plc website.

Thomas Cook are not affected by this.
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Thomas Cook ‘not affected' by major shareholder insolvency

Thomas Cook has issued reassurance that it will not be impacted by majority shareholder Arcandor applying to commence insolvency proceedings.

Today's announcement will have no impact on customers and is not expected to result in any adverse effect on any of the contractual arrangements of the Thomas Cook group, a company statement said.

Germany firm Arcandor AG is a 52.8% shareholder in the travel giant.

Thomas Cook said it would "closely monitor" what happens to Arcandor's shareholding.

But the group confirmed that it has not had any approach and is not in any discussions in relation to the acquisition of the Arcandor stake or a potential offer for the company.

Thomas Cook said it financing arrangements are "completely independent" from Arcandor's financing and are not affected by the development.

Thomas Cook has been operated as a standalone entity, separate from the Arcandor group.

"As a result, there are minimal balances outstanding between the two groups," Thomas Cook said.

Trading balances owed by the Arcandor group to the Thomas Cook group arising in the ordinary course of business are less than £1 million.

"There are no non-trading balances owed by the Arcandor group to the Thomas Cook group. There are no cash pooling arrangements between the Thomas Cook group and the Arcandor group and the Thomas Cook group has not guaranteed any obligations of Arcandor," the statement said.

Thomas Cook CEO Manny Fontenla-Novoa said: "We are saddened by the news announced today by Arcandor.

"Dr Karl Eick and his colleagues have worked tirelessly to address their financial difficulties and Arcandor has been a constructive and supportive shareholder of our business.

"Arcandor's insolvency has no impact on Thomas Cook's financial position or its operational performance, nor on its management and staff.

"We remain as a completely independent and separate business, ring-fenced from Arcandor.

"There is no impact whatsoever on our aircraft or our hotel relationships, nor on the holidays that we provide to our customers.

"It remains very much business as usual at Thomas Cook."


With permission from Travelmole
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trasjohno.. i go on holiday with them in August...not long since i paid my balance in full...definately going to be a very worrying few weeks.... Will we still be covered if we paid by debit card? We going away for silver wedding.. hope its all ok... fingers crossed

Scully27
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scully27

Your money is safe, if anything happened you will be refunded by ATOL, if you paid cash or by debit card, by the credit card company if you paid by credit card.
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Thanks for your quick reply.... just hope its all ok :) Dont fancy looking for another holiday for our silver wedding.... had this one booked for a year......
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Booked Goa for next January. What worries me is that people will lose confidence and not book TC which in turn could put company in crisis. I like to pay off the balence each month but now worry I could lose it!!
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Should be OK, but you could just pay what you normally pay off each month into a seperate account and then pay off balance 10 or 12 weeks before, if it makes you feel happier. Personally I never like them to have the money until the deadline even if I have got it.
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What worries me is that people will lose confidence and not book TC which in turn could put company in crisis.


And of course that would force up demand and prices with other TO's :(
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true, is there anyone on here who would book with thomas cook at the moment? i think most people would look eleswhere or wait untill they know the company will not be effected. and as said that will no doubtly effect prices. at the end of the day loads of other companys have taken peoples money knowing full well the goods will not be delivered. not just talking about tour operaters, a well known leather furniture (no name and shame) company did the same not many months back.
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This does not directly affect Thomas Cook's day to day business. - Please do not worry.

Arcandor are simply the majority shareholder, in the same way that the large pension funds, banks or private equity firms own shares in businesses. What will happen is that the shares will either pass to the banks that loaned Arcandor or the administrators of Arcandor will sell the shares as part of the liquidation of assets. The Thomas Cook Group share price has fallen 7% today as the markets anticipate the possible sale of the 53% majority shares.

Thomas Cook GRoup is a separate business, it is listed in it's own right on the London Stock Exchange, this will simply lead to a change in who owns a large number of shares :tup
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If thomas cook say they are not affected.. why are they asking the german government for money ? lol it's a bit strange eh ?
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