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Latest Flight News - Thomas Cook Crisis

Thomas Cook has stated that “It’s Business as Usual” following on from the news of its poor financial results and forecasts which has resulted in huge amounts of enquiries from both worried holiday makers and suppliers alike.

Thomas Cook have today tried to reassure worried customers and suppliers alike that both the business and their holidays are safe by reassuring everyone that they have “ample cash to operate” after a huge crash to its share price on Friday.

The Travel Agent on Sunday attempted to reassure its customers via its Twitter social media account that “it's business as usual and you'll still be going away. To give you extra peace of mind, if you have a package holiday, it is fully ATOL protected, so your money and holiday are safe.”

Thomas Cook had announced a £1.5bn loss last week blaming a downturn in holiday bookings on the continued Brexit uncertainty. This was then shortly followed by a high-profile city analyst saying that the company’s shares were worthless which has then seen the company take a huge hit on its share price as Citigroup advised its investors to sell the shares they held in the company.

It’s a little too early in the day for people to get overly concerned for their holidays and the last thing the company needs at this moment in time is large amounts of cancelations due to the uncertainty caused by stories in the media.

Its important to remember that Thomas Cook is a huge company with shops and staff the length and breadth of the country. All customers holidays are ATOL protected and for customers that have paid by credit card they have the extra piece of mind that the card company would have to reimburse them if the worse case scenario was to happen.

Believe it or not, Thomas Cook have faced and come through worse situations than their current predicament back in 2011 and as a result this must instil some confidence that the management team know how to steer the company successfully through financial difficulties.

Thomas Cook have already taken steps to secure their future by securing £300 million in additional funding in preparation for its quiet months to ensure suppliers and staff are continued to be paid on time.

Prior to last weeks news regarding the company’s losses Thomas Cook had already placed their airline on the market in a bid to lower costs. It has been reported that there is serious interest in the purchase of the airline part of the business from numerous companies including Virgin Atlantic and Lufthansa.

Thomas Cook are not the only Travel Company to announce huge losses this year as Virgin Atlantic, TUI and Norwegian have also announced annual losses.

Floribobs.com would advise its readers to stay calm and continue planning your dream holiday to Orlando, Florida.

 


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