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Thomas Cook planes
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Topic: Thomas Cook planes (Read 2474 times)
RED-DOG
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Thomas Cook planes
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on:
October 07, 2019, 12:29:46 AM »
What happens to them now?
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tikay
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Re: Thomas Cook planes
«
Reply #1 on:
October 07, 2019, 12:44:13 AM »
Quote from: RED-DOG on October 07, 2019, 12:29:46 AM
What happens to them now?
Good question Tom.
I believe they only own a handful of them outright - 5 maybe - the rest of them are financed in various ways, mainly leasing, as is common in the industry.
In due course, they will all revert to their owners who will, in the short term, park them up somewhere, ideally at specialist storage site. They are currently at airports - many are at Manchester - but it costs a lot of money to keep aircraft parked up at major airports.
Even moving them to a storage base is problematic, as the Licence to operate them sat with Thomas Cook who presumably no longer have a valid operation licence. Then there's insurance costs, & of course if fees are owed to the airports, the Airports will hold on to the aircraft as collateral until the bills are satisfied.
Eventually, all the fleet will be offered for sale & added to the available at the right price I suppose.
Think there must be an awful lot of spare aircraft capacity right now. Currently, almost 400 Boeing 737 Max are grounded worldwide due to the software problem, & at some stage soon (?) they will all be available to their owners.
SouthWest Airlines own 38 grounded 737 Max, & Norwegian Airlines, already deep in financial trouble, have 18 grounded. Both airlines have a lot more Max's on order too.
Here's just some of the Southwest 737 Max's currently grounded. Extraordinary situation.
Click to see full-size image.
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tikay
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Re: Thomas Cook planes
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Reply #2 on:
October 07, 2019, 12:51:43 AM »
These are brand new 737 Max's stored at one of the Boeing factories in Washington. Note they have even spilled over into the car park.
So, what with all the 737 Max's, plus Thomas Cook's grounded fleet of mainly bigger aircraft, that's one awful lot of capacity which will flood the market soon.
Easy to see more bankruptcies arising when that lot all start flying.
Click to see full-size image.
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RED-DOG
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Re: Thomas Cook planes
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Reply #3 on:
October 07, 2019, 11:09:22 AM »
Incredible.
Thanks for the detailed answer.
I was thinking yesterday about the ripple effect of TC going TU. So many people involved in an operation as big as that. I think it cost like a huno milly just to get the punters who were abroad at the time home.
Imagine all the subsidiary businesses who will be holding their hands out. Without that constant flow of customers to generate the cash, surely everyone will lose big time?
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RED-DOG
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Re: Thomas Cook planes
«
Reply #4 on:
October 07, 2019, 11:17:48 AM »
Quote from: tikay on October 07, 2019, 12:51:43 AM
These are brand new 737 Max's stored at one of the Boeing factories in Washington. Note they have even spilled over into the car park.
So, what with all the 737 Max's, plus Thomas Cook's grounded fleet of mainly bigger aircraft, that's one awful lot of capacity which will flood the market soon.
Easy to see more bankruptcies arising when that lot all start flying.
Click to see full-size image.
I shudder to think what this is costing, especially when you consider the damage to future orders and reputation.
Will Boing have to fork out for all the business that the airlines are losing?
What if an airline goes under because of it, will Boing pay for that?
The most gob-smacking thing for me is, how can it take so long to solve a software problem? They don't even need spanners FFS!
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Doobs
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Re: Thomas Cook planes
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Reply #5 on:
October 07, 2019, 11:30:42 AM »
I thought there was serious interest in the thomas cook airline business at one stage, though guess that nay have waned a fair bit now the other part of Thomas Cook has gone bust.
Guess there may be an issue with parking if you intend to vists the Seattle Boeing experience.
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StuartHopkin
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Re: Thomas Cook planes
«
Reply #6 on:
October 07, 2019, 11:39:52 AM »
Quote from: RED-DOG on October 07, 2019, 11:09:22 AM
Incredible.
Thanks for the detailed answer.
I was thinking yesterday about the ripple effect of TC going TU. So many people involved in an operation as big as that. I think it cost like a huno milly just to get the punters who were abroad at the time home.
Imagine all the subsidiary businesses who will be holding their hands out. Without that constant flow of customers to generate the cash, surely everyone will lose big time?
I would guess in theory all those customers will still want to go on holiday, meaning that the other companies will have to expand and fill the space left?
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RED-DOG
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Re: Thomas Cook planes
«
Reply #7 on:
October 09, 2019, 12:16:06 PM »
Quote from: StuartHopkin on October 07, 2019, 11:39:52 AM
Quote from: RED-DOG on October 07, 2019, 11:09:22 AM
Incredible.
Thanks for the detailed answer.
I was thinking yesterday about the ripple effect of TC going TU. So many people involved in an operation as big as that. I think it cost like a huno milly just to get the punters who were abroad at the time home.
Imagine all the subsidiary businesses who will be holding their hands out. Without that constant flow of customers to generate the cash, surely everyone will lose big time?
I would guess in theory all those customers will still want to go on holiday, meaning that the other companies will have to expand and fill the space left?
Correctamundo.
BBC News - Thomas Cook's 555 shops to be bought by rival
https://www.bbc.co.uk/news/business-49985369
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tikay
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Re: Thomas Cook planes
«
Reply #8 on:
October 09, 2019, 12:30:16 PM »
Quote from: RED-DOG on October 07, 2019, 11:17:48 AM
Quote from: tikay on October 07, 2019, 12:51:43 AM
These are brand new 737 Max's stored at one of the Boeing factories in Washington. Note they have even spilled over into the car park.
So, what with all the 737 Max's, plus Thomas Cook's grounded fleet of mainly bigger aircraft, that's one awful lot of capacity which will flood the market soon.
Easy to see more bankruptcies arising when that lot all start flying.
Click to see full-size image.
I shudder to think what this is costing, especially when you consider the damage to future orders and reputation.
Will Boing have to fork out for all the business that the airlines are losing?
What if an airline goes under because of it, will Boing pay for that?
The most gob-smacking thing for me is, how can it take so long to solve a software problem? They don't even need spanners FFS!
Boeing has already taken a charge in it's Q2 Accounts of $8 billiion, & there's plenty more where that came from;
https://www.nytimes.com/2019/07/18/business/boeing-737-charge.html
Since then, they set aside a further $100 million for payments to the families of the bereaved in the 2 MAX crashes.
BA alone has 200 MAX on order, think of the compo that would cost if further delays ensue.
I'm purely guessing, but I would have thought Boeing carried insurance for all these things. Whether that includes the costs arising faulty design I have no idea.
There's a lot of bills need settling, that's for sure, & someone's eyes will be watering.
«
Last Edit: October 09, 2019, 12:35:27 PM by tikay
»
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tikay
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Re: Thomas Cook planes
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Reply #9 on:
October 09, 2019, 12:38:14 PM »
Boeing's cash-flow must be hurting too, they have all those aircraft stockpiled outside their factory, & the Airlines surely won't be paying for them until they get them. They have 300 of them fully built & waiting for the software mods. The list price of a 737 MAX is around $125 million, though I doubt any Airline pays "list". Even so, 300 x say, $100 million, is a whole lot of cash-flow tied up.
The Airlines or Leasing Companies have to pay stage payments I believe, but that's based on getting the aircraft on a certain date, so they'll want that money back for sure.
In addition, Boeing have delivered 390 MAX to customers, & all of them are grounded, so the Airlines will want compo for that too.
https://en.wikipedia.org/wiki/Boeing_737_MAX
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StuartHopkin
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Re: Thomas Cook planes
«
Reply #10 on:
October 09, 2019, 12:58:18 PM »
Quote from: RED-DOG on October 09, 2019, 12:16:06 PM
Quote from: StuartHopkin on October 07, 2019, 11:39:52 AM
Quote from: RED-DOG on October 07, 2019, 11:09:22 AM
Incredible.
Thanks for the detailed answer.
I was thinking yesterday about the ripple effect of TC going TU. So many people involved in an operation as big as that. I think it cost like a huno milly just to get the punters who were abroad at the time home.
Imagine all the subsidiary businesses who will be holding their hands out. Without that constant flow of customers to generate the cash, surely everyone will lose big time?
I would guess in theory all those customers will still want to go on holiday, meaning that the other companies will have to expand and fill the space left?
Correctamundo.
BBC News - Thomas Cook's 555 shops to be bought by rival
https://www.bbc.co.uk/news/business-49985369
I meant providing the flights and hotels not taking over the shops!
This seems like an insane move by Hays.
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RED-DOG
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Re: Thomas Cook planes
«
Reply #11 on:
October 09, 2019, 03:22:35 PM »
Quote from: StuartHopkin on October 09, 2019, 12:58:18 PM
Quote from: RED-DOG on October 09, 2019, 12:16:06 PM
Quote from: StuartHopkin on October 07, 2019, 11:39:52 AM
Quote from: RED-DOG on October 07, 2019, 11:09:22 AM
Incredible.
Thanks for the detailed answer.
I was thinking yesterday about the ripple effect of TC going TU. So many people involved in an operation as big as that. I think it cost like a huno milly just to get the punters who were abroad at the time home.
Imagine all the subsidiary businesses who will be holding their hands out. Without that constant flow of customers to generate the cash, surely everyone will lose big time?
I would guess in theory all those customers will still want to go on holiday, meaning that the other companies will have to expand and fill the space left?
Correctamundo.
BBC News - Thomas Cook's 555 shops to be bought by rival
https://www.bbc.co.uk/news/business-49985369
I meant providing the flights and hotels not taking over the shops!
This seems like an insane move by Hays.
Doesn't one facilitate the other though?
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bobAlike
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Re: Thomas Cook planes
«
Reply #12 on:
October 10, 2019, 08:41:15 AM »
I have no idea what compo Boeing will have to give the airlines for each day they are grounded but when Rolls-Royce had the Trent 1000 issue the were paying £10k per day per plane.
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Ah! The element of surprise
StuartHopkin
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Re: Thomas Cook planes
«
Reply #13 on:
October 10, 2019, 08:45:24 AM »
Quote from: RED-DOG on October 09, 2019, 03:22:35 PM
Quote from: StuartHopkin on October 09, 2019, 12:58:18 PM
Quote from: RED-DOG on October 09, 2019, 12:16:06 PM
Quote from: StuartHopkin on October 07, 2019, 11:39:52 AM
Quote from: RED-DOG on October 07, 2019, 11:09:22 AM
Incredible.
Thanks for the detailed answer.
I was thinking yesterday about the ripple effect of TC going TU. So many people involved in an operation as big as that. I think it cost like a huno milly just to get the punters who were abroad at the time home.
Imagine all the subsidiary businesses who will be holding their hands out. Without that constant flow of customers to generate the cash, surely everyone will lose big time?
I would guess in theory all those customers will still want to go on holiday, meaning that the other companies will have to expand and fill the space left?
Correctamundo.
BBC News - Thomas Cook's 555 shops to be bought by rival
https://www.bbc.co.uk/news/business-49985369
I meant providing the flights and hotels not taking over the shops!
This seems like an insane move by Hays.
Doesn't one facilitate the other though?
In my head...... (this may get a little scary)
People still want to go on holiday, so either other airlines need to grow or a new airline needs to pop up to fill the demand.
The hotels are still there so someone needs to facilitate the booking of said hotels as not many holiday makers book direct with the hotel.
So all the other providers including Hays are going to want to capitalise on helping the people who would have booked with Thomas Cook.
Some of this will happen naturally as people look elsewhere, I am sure there will be some promotions to attract them etc
However 9 out of 10 people research their holiday online, and 8 out of 10 people book their holiday online.
Those shops are expensive, rent, rates and staffing etc and are a thing of the past. I believe they were partly to blame for the demise of TC.
So I could understand Hays picking up a couple of shops in strategic areas, but to take on the cost of running 555 shops to try and obtain the small portion of holiday makers who still book in person seems crazy to me.
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EvilPie
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Re: Thomas Cook planes
«
Reply #14 on:
October 10, 2019, 12:33:57 PM »
Quote from: StuartHopkin on October 10, 2019, 08:45:24 AM
Quote from: RED-DOG on October 09, 2019, 03:22:35 PM
Quote from: StuartHopkin on October 09, 2019, 12:58:18 PM
Quote from: RED-DOG on October 09, 2019, 12:16:06 PM
Quote from: StuartHopkin on October 07, 2019, 11:39:52 AM
Quote from: RED-DOG on October 07, 2019, 11:09:22 AM
Incredible.
Thanks for the detailed answer.
I was thinking yesterday about the ripple effect of TC going TU. So many people involved in an operation as big as that. I think it cost like a huno milly just to get the punters who were abroad at the time home.
Imagine all the subsidiary businesses who will be holding their hands out. Without that constant flow of customers to generate the cash, surely everyone will lose big time?
I would guess in theory all those customers will still want to go on holiday, meaning that the other companies will have to expand and fill the space left?
Correctamundo.
BBC News - Thomas Cook's 555 shops to be bought by rival
https://www.bbc.co.uk/news/business-49985369
I meant providing the flights and hotels not taking over the shops!
This seems like an insane move by Hays.
Doesn't one facilitate the other though?
In my head...... (this may get a little scary)
People still want to go on holiday, so either other airlines need to grow or a new airline needs to pop up to fill the demand.
The hotels are still there so someone needs to facilitate the booking of said hotels as not many holiday makers book direct with the hotel.
So all the other providers including Hays are going to want to capitalise on helping the people who would have booked with Thomas Cook.
Some of this will happen naturally as people look elsewhere, I am sure there will be some promotions to attract them etc
However 9 out of 10 people research their holiday online, and 8 out of 10 people book their holiday online.
Those shops are expensive, rent, rates and staffing etc and are a thing of the past. I believe they were partly to blame for the demise of TC.
So I could understand Hays picking up a couple of shops in strategic areas, but to take on the cost of running 555 shops to try and obtain the small portion of holiday makers who still book in person seems crazy to me.
When I read an article about it there was mention of 'real estate'. That suggests that most of the shops are owned rather than leased.
I'd imagine they picked everything up on the cheap and it won't be long before they're selling everything off bit by bit for a huge profit.
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