The Future of Thomas Cook Airlines

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This topic contains 2 replies, has 3 voices, and was last updated by Moderator Mateusz Maszczynski 1 month, 1 week ago.

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  • #100001111
    Upupandaway12
    Upupandaway12
    Participant

    Any info regarding their future, how long do you wait to become permanent instead of seasonal!

    #100001127
    cloudsurfer
    Cloudsurfer
    Participant

    It’s likely that Thomas Cook will be sold off within the next 12-months, although in what form we don’t yet know.  Lufthansa has shown interest – although, ideally they just want the German part of the airline.  Virgin Atlantic has also shown some interest.  For the time being, Thomas Cook has got enough money to keep the airline going so there aren’t any immediate concerns (with the caveat that things can change very quickly!).

    Generally speaking, cabin crew will be expected to work a season on a temporary basis before being invited back – at this point, under European law, the airline would have to offer you a permanent position.

    #100001314

    An article from Bloomberg about the huge debt pile Thomas Cook is facing.  In summary:

    • Debt currently stands at $2.1 billion
    • The airline side of the business has to be sold to get back into the black
    • The company is currently in talks with banks to see it through the winter season
    • The airline is worth around $870 million
    • There are a number of interested bidders, including Lufthansa, but the average age of Thomas Cook’s aircraft at 15-years could prove a headache

    https://www.bloomberg.com/opinion/articles/2019-05-10/thomas-cook-needs-to-book-a-solution

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