Parklaner81
Steve Hodge
I did some work looking at their situation about 5 years ago. Based on what I saw at that time, I find it hard to believe that Brexit can be much more than a convenient excuse for what's happened.
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Politics, politics, politics (so long and thanks for all the fish)
- Thread starter SpurMeUp
- Start date
I did some work looking at their situation about 5 years ago. Based on what I saw at that time, I find it hard to believe that Brexit can be much more than a convenient excuse for what's happened.
Legohamster
Ian Walker
Prices have gone up around 10% due to the $ rate - which would have decreased the profit margin on bookings.
Plus there is a unease about booking holidays at the moment.
Horrible mismanagement played the main part of the demise of course.
Parklaner81
Steve Hodge
And specifically the completely unsustainable debt burden, that long pre-dated Brexit.
Grays_1890
Chris Jones
Most good tour operators hedge against fluctuations in exchange rates and as an EX hotelier I can tell you that an loss in margins is usually passed on to the hotels and airlines who do not want to lose the volume on bookings.
Thomas Cook has always been a badly run company, never moving with the times with a HUGE history of mismanagement. Hence it was owned by the Germans
SpurMeUp
Les Howe
To be balanced, Thomas Cook was not put out of business by Brexit. Who uses old style package holidays anymore?
These things are rarely due to one factor, rather a number of different things combine. In this case:
- hot summers in the uk
- reduced value of the pound cutting profit margins (kinda is due to Brexit)
- increased cost of going abroad (due to Brexit)
- changing consumer habits using online tools to be your own travel agent
No doubt other factors too.
Sitting on my porcelain throne using glory-glory.co.uk mobile app
These things are rarely due to one factor, rather a number of different things combine. In this case:
- hot summers in the uk
- reduced value of the pound cutting profit margins (kinda is due to Brexit)
- increased cost of going abroad (due to Brexit)
- changing consumer habits using online tools to be your own travel agent
No doubt other factors too.
Sitting on my porcelain throne using glory-glory.co.uk mobile app
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Grays_1890
Chris Jones
- 20+ years of mismanagement.
- Terrible history of acquisitions such as My Travel
- Terrible growth strategy
This is my business, worked in Travel for 20+ years currently at one of the worlds best tourist boards, this is not Brexit at all, its fundamentally years of mismanagement and not moving with the times. Their high street foot print has been too large for years, whilst Kuoni and Virgin went for small boutique shops in department stores to cut their increased overheads Thomas Cook went through rebrands and refurbs on huge stores in an increasing rent space.
Legohamster
Ian Walker
I’m not disagreeing with you
People want unrealistically priced holidays I work for an airline and the occasional times I do customer facing stuff I always find people moaning about costs and want a price match (ironically most of the time it was TC) even if it’s a decent cost - ironically this will now see costs increase.
Something was always going to go, I can see Norwegian going next.
SpurMeUp
Les Howe
London has become a huge tech hub - while in the EU. What exactly am I ignoring? That the tech hub has not collapsed post vote? One we don't really know if we will leave. Two things like banking apps etc don't really have issues with tarrifs etc. It doesn't matter where they are based. What does matter is things like access to programmers. At the moment we can them from the EU tomorrow, if there is someone good who's in Germany or Bulgaria. No visa, no red tape etc. We can also get them from India, China etc, but there are more issues. All Brexit would change is the ease of getting people from europe.
The UK is now - currently - service based. And services are not something say a Canada-EU trade agreement covers.
So no I have not "ignored all the good things". Becuase you haven't outlined anything believable yet. Maybe it is around the corner. We're all missing the logic of a breighter bredit future? It's hidden somewhere?
Parklaner81
Steve Hodge
I'm not entirely convinced about this either. Yes the pound is at historically low levels against the dollar, but against the euro (where I'm assuming the bulk of TC's business was focussed)? Off the top of my head I can recall it touching levels below where it currently is more than once pre-referendum. There's no doubt an element of truth in what you say, but at the same time I suspect it's being overused & oversimplified by the anti-brexit side of the argument.
SpurMeUp
Les Howe
What the video? This is the thing, we are still in the EU. It is not that there is no good news anywhere. It is that the prospects of Brexit look so futile and unatractive - that is why markets have dropped our national currency. Becuase there are no real tangible benifits that people can outline. No rationale for it. That video really just confirms it. Is that the best those putting hte case for brexit can do? Where is the plan, where is the positive future vision?
Not the video, no. It's an entire category on that blog of story after story. A useful antithesis to all the (politically loaded) doom and gloom.
SpurMeUp
Les Howe
Grays_1890
Chris Jones
Norwegian been looking for a bail out for ages but they like Thomas Cook seem to think the way out the crisis is expansion.
Parklaner81
Steve Hodge
Very good. Do you perhaps have a graph that isn't so conveniently cropped to fit your argument?
Legohamster
Ian Walker
They always seem to be cancelling flights.
I know had a strike the other day - but it’s worth paying that bit more to fly with them or Virgin.
nayimfromthehalfwayline
Andy Thompson
While Im sure the content might be worth reading, that website is among the worst designed Ive ever seen and I couldnt read any of it!
Legohamster
Ian Walker
Package holidays offer extra protection and offer support.
It’s not like it’s always cheaper to do it unpackaged as well
Grays_1890
Chris Jones
So no crimes committed by Boris, thats gotta be tough for the macarons on Remain to swallow
nayimfromthehalfwayline
Andy Thompson
Ruling hasnt come out yet has it?
nayimfromthehalfwayline
Andy Thompson
Or did you mean this?
The National Crime Agency has found "no evidence" of criminal offences after allegations against Leave.EU and its founder Arron Banks.
The agency launched an investigation into the pro-Brexit campaign group after it was fined £70,000 by the Electoral Commission in May last year.
But the NCA said it would not take any further action against Leave.EU, its chief executive Liz Bilney or Mr Banks.
Tweeting after the ruling, Mr Banks said: "Victory is sweet."
Earlier this month, a criminal investigation into Leave.EU was also dropped by the Metropolitan Police as there was "insufficient evidence" to justify any further inquiry.
In response to the NCA decision, the Electoral Commission said it stood by the need for the investigations to ensure "voters have transparency" over political funding.
In a May 2018 report, the commission said Leave.EU had exceeded the spending limit for "non-party registered campaigners" by at least 10% by failing to include at least £77,380 in its spending return.
It also referred Ms Bilney to the police, saying its investigation found she had committed four offences, including submitting an inaccurate spending return and exceeding the spending limit.
But she claimed the investigations had stemmed from Remain-backing MPs "desperately trying to overturn the result of the referendum".
Brexit Party leader and former Leave.EU campaigner Nigel Farage said he was "pleased" the NCA had dropped its investigation, but "heads must roll" at the Electoral Commission.
Leave-backing Labour MP Kate Hoey called for those who "condemned Leave.EU to apologise".
Leave.EU was a rival to Vote Leave, which was designated as the official Leave campaign during the 2016 referendum campaign
The National Crime Agency has found "no evidence" of criminal offences after allegations against Leave.EU and its founder Arron Banks.
The agency launched an investigation into the pro-Brexit campaign group after it was fined £70,000 by the Electoral Commission in May last year.
But the NCA said it would not take any further action against Leave.EU, its chief executive Liz Bilney or Mr Banks.
Tweeting after the ruling, Mr Banks said: "Victory is sweet."
Earlier this month, a criminal investigation into Leave.EU was also dropped by the Metropolitan Police as there was "insufficient evidence" to justify any further inquiry.
In response to the NCA decision, the Electoral Commission said it stood by the need for the investigations to ensure "voters have transparency" over political funding.
In a May 2018 report, the commission said Leave.EU had exceeded the spending limit for "non-party registered campaigners" by at least 10% by failing to include at least £77,380 in its spending return.
It also referred Ms Bilney to the police, saying its investigation found she had committed four offences, including submitting an inaccurate spending return and exceeding the spending limit.
But she claimed the investigations had stemmed from Remain-backing MPs "desperately trying to overturn the result of the referendum".
Brexit Party leader and former Leave.EU campaigner Nigel Farage said he was "pleased" the NCA had dropped its investigation, but "heads must roll" at the Electoral Commission.
Leave-backing Labour MP Kate Hoey called for those who "condemned Leave.EU to apologise".
Leave.EU was a rival to Vote Leave, which was designated as the official Leave campaign during the 2016 referendum campaign