Moves underway by CAA to repatriate Thomas Cook passengers

Nijmegen

LXFlyer wrote: »

In this case there are all of the package hotel costs to be covered under ATOL, so a lot more costly than simply the impact of an airline collapsing.

Yeah but ATOL is an insurance scheme paid for by a £2.50 levy on each ticket and requiring companies to purchase insurance bonds. The net cost to the taxpayer will continue to be substantially less than if they bailed out the company and became responsible for its ongoing operation. 1970s style bail out everything policies are the ruination of governments. TC today, a steel company tomorrow, oops now we own the car makers and on and on it goes.

L1011

TC was state owned from WWII til 1972, there is an even stronger dislike of bailing out privatised industries in the UK

LXFlyer

Nijmegen wrote: »

Yeah but ATOL is an insurance scheme paid for by a £2.50 levy on each ticket and requiring companies to purchase insurance bonds. The net cost to the taxpayer will continue to be substantially less than if they bailed out the company and became responsible for its ongoing operation. 1970s style bail out everything policies are the ruination of governments. TC today, a steel company tomorrow, oops now we own the car makers and on and on it goes.

Not disagreeing with any of that.

Just pointing out that it’s a little more complicated this time compared to Monarch.

Rawr

Noticed that the Ving Group over here in Norway somehow managed to separate themselves from TC and are now back in action.

Wierdly, Thomas Cook Airlines Scandinavia were in the same boat and only needed to shut down for a day. Apparently they are back in action too.

I wonder if they'll hold onto the name?

ohnonotgmail

Rawr wrote: »

Noticed that the Ving Group over here in Norway somehow managed to separate themselves from TC and are now back in action.

Wierdly, Thomas Cook Airlines Scandinavia were in the same boat and only needed to shut down for a day. Apparently they are back in action too.

I wonder if they'll hold onto the name?

The foreign subsidiaries of TC are not part of the receivership. they are legally separate. they do share some backend systems with the parent company which is why they shutdown temporarily.

The Black Oil

Ah jeez.

https://www.youtube.com/watch?v=rGyd8jtroHo