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| rassimian |
Posted - 20 Sep 2019 : 10:47:23
Thomas Cook company going under? Although they have been in financial trouble for a while it looked like that earlier in the year they were being bailed out by Chinese investment. Now creditors are saying that they need a further injection of £200 million just to stay afloat and have 48 hours in which to come up with this amount or go into possible liquidation if the company can not be sold.Contingency Plans are being considered as how to bring home 150,000 tourists if the company goes under. The loss of such a major travel company would be likely to affect the Gambian tourist infrastructure in a major way.
No great explanation is needed. Loss of jobs in the hotel business, if not possible closures, bound to effect the restaurant trade and general tourism. A disaster for the Gambian economy if no more Thomas Cook flights to the Gambia. Also very sad if it happens for those of us who love the Gambia. One thing is for sure we will all not be able to find alternative routes. Personally I will probably not get my money back as have booked flight only in January and will not be able to afford any possible alternative routes available from European airlines. Watch this development carefully. The next few days are crucial. |
| 15 L A T E S T R E P L I E S (Newest First) |
| toubab1020 |
Posted - 03 Nov 2019 : 12:43:42
Momodou as usual YOU are the finger on the pulse for us members of your Bantaba in Cyberspace,I really hope that your posting gains POSTINGS from the Dear Reader who exist in many countries of the world who value Bantaba in cyberspace and they will join in THIS discussion,which in MY OPINION shows the increasing power of Asian countries in the world today.
For a www link to the company involved in the current Thomas Cook developments, click on the link below if you wish to find out more.
https://www.fosun.com/language/en/aboutus/1.html
quote:
Originally posted by Momodou
Thomas Cook brand name bought by Chinese conglomerate
Fosun snaps up travel agent’s trademarks, websites and social media accounts for £11m
https://www.theguardian.com/business/2019/nov/01/thomas-cook-brand-name-bought-by-chinese-conglomerate
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| Momodou |
Posted - 03 Nov 2019 : 11:43:17
Thomas Cook brand name bought by Chinese conglomerate
Fosun snaps up travel agent’s trademarks, websites and social media accounts for £11m
https://www.theguardian.com/business/2019/nov/01/thomas-cook-brand-name-bought-by-chinese-conglomerate |
| toubab1020 |
Posted - 11 Oct 2019 : 17:36:51
Shrewd move by a man who knows,keeping staff and getting many shops open again in the High Street of the UK AND HOPEFULLY TO continue to make GAMBIA the Smiling coast a paramount destination for travellers .
You can veiw TWO Videos one on the Express Newspaper
(Source of information below) and ONE on UTube I have posted on this page. 
++++++++++++++++++++++++++++++++++++++++++++++++++++
John and Irene Hays appeared on Good Morning Britain this morning following the reopening of five of the Thomas Cook stores they rescued to discuss their plans for the future. The Sunderland-based travel agent has purchased 555 of Thomas Cook’s stores which were at risk of sitting empty following a sudden administration. Following the closure 150,000 Thomas Cook staff were left out of work and without pay. Reports circulated telling the harrowing tale of former employees faced with no pay being forced to use food banks.
https://www.express.co.uk/travel/articles/1189399/Hays-Travel-Thomas-Cook-plan-future-holidays-news-latest |
| toubab1020 |
Posted - 27 Sep 2019 : 18:29:57
September 27, 2019
In the wake of world aviation giant, Thomas Cook’s declaration of bankruptcy, the ministry of tourism and culture has assured Gambians and its global friends that significant steps have been taken to mitigate the potentially devastating effects on the country’s tourism.
“With the looming collapse of Thomas Cook, the Minister of Tourism, Hamat Bah immediately summoned a meeting of stakeholders to seek remedial actions to respond to this emergency,” a release from the tourism ministry reads.
According to the release, the government was “shocked and saddened” by the devastating news of Thomas Cook’s collapse following an unsuccessful attempt to secure a bailout.
“No sooner had news of Thomas Cook’s definitive liquidation broke, than the Tourism ministry convened an emergency meeting with all stakeholders including the International Monetary Fund, the European Union, the World Bank and the Ministry of Finance to devise a strategic response.
The meeting came up with an Emergency Response Team which has already recommended a strategy to immediately mitigate the shock on the job market and the impact on the overall economic situation of The Gambia,” the release stated.
The release said the government, working with its partners, has since developed modalities to increase the frequency of flights to Destination-Gambia by other carriers as a direct measure to minimise the impact of Thomas Cook’s collapse on the Gambian tourism market.
Thomas Cook, the oldest and one of the most popular names in leisure travel with a track record of over 150 years, flew in British tourists to The Gambia for over two decades.
The airline accounts for at least 4 5 percent of tourists visiting The Gambia.
“While the government of President Barrow recognises the worrying effects of Thomas Cook’s collapse, it however wishes to assure Gambians and the generality of holiday makers to the country that the situation is under total control and there is no need for alarm,” the release added.
https://standard.gm/govt-takes-measures-to-mitigate-thomas-cook-collapse/ |
| kiwi |
Posted - 25 Sep 2019 : 13:11:40
Thomas didn´t Cook well enough  |
| toubab1020 |
Posted - 25 Sep 2019 : 00:21:02
By Lamin Cham September 24, 2019
The sudden collapse of world acclaimed tour operator, Thomas Cook of the UK could drastically cut the number of tourist arrivals in The Gambia in the coming season, officials lamented yesterday.
“Thomas Cook carried the largest share of the 200,000 arrivals last year and it would have remained so this year,” an official who begged anonymity told The Standard yesterday.
The news of the collapse of the operator has since sent chills down the spines of the Gambia Tourist Board officials, with director general Hydara spotted yesterday rushing to a crisis meeting in Banjul.
He said he was not in position to immediately give any details about the full impact of the incident on Destination Gambia this year or what remedial strategies would be put in place. “But it will certainly affect arrivals,” he said.
Another expert in the field said the absence of Thomas Cook will wipe out between 30 to 50 percent of bookings to The Gambia.
“Whereas travelers may get refunded, this could take time and even if they get refunded would they be keen to take expensive alternative carriers, if there is any, to come for holiday?” one anxious tourism operator asked.
The Standard encountered with tourist taxi operators discussing the disturbing news around the Senegambia strip.
”This is worse than the much talked about Three Years Jotna. This is uncontrollable and deeply worrying.
Whereas we could talk among ourselves and resolve political differences, this one seems to be a natural calamity about which we can do little,” one driver lamented.
Last year, The Gambia received over 200,000 tourists, majority of them were transported by Thomas Cook.
This year, the GTB is expecting 238,000 arrivals starting from next month again to be carried by Thomas Cook.
With the sudden collapse of the firm which declared bankruptcy, there is deep fear that the season will be seriously affected.
https://standard.gm/thomas-cook-collapse-threatens-tourist-arrivals/ |
| toubab1020 |
Posted - 25 Sep 2019 : 00:09:56
By. Harriet Russell
24 September 2019 • 10:23pm
Thomas Cook's auditors face a probe into their conduct after the historic travel company collapsed under a £1.6bn debt mountain.
The firm's accountants EY and PwC will be investigated by the industry watchdog amid mounting anger over the state of its finances in the years before the failure.
Critics claim that Thomas Cook used controversial accounting techniques to boost a key measure of profit before going bust on Monday, leaving 150,000 Britons stranded abroad and costing 21,000 workers their jobs.
Chief executive Peter Fankhauser - whose bonus was linked to the company's profits - pocketed £8.3m during his five years at the helm, even as its share price plunged 97pc.
https://www.telegraph.co.uk/business/2019/09/24/city-watchdog-joins-chorus-calling-thomas-cook-investigation/ |
| toubab1020 |
Posted - 25 Sep 2019 : 00:04:50
Credit: Christopher Furlong/Getty Images Europe
Alan Tovey, Industry Editor
24 September 2019 • 6:38pm
Thomas Cook’s implosion has left aircraft owners facing a $500,000-plus bill per day while the failed holiday company’s jets are grounded.
Rather than own the aircraft it used to fly holidaymakers around the world, Thomas Cook leased its fleet of jets from giant aviation letting businesses as is common practice in the industry.
But the holiday company’s collapse into insolvency means the $300,000-plus per month payments it handed over for each jet to have stopped, leaving the airliners’ owners scrabbling to find new homes for them.
https://www.telegraph.co.uk/business/2019/09/24/airliner-owners-face-500000-a-day-bill-thomas-cook-collapse/ |
| toubab1020 |
Posted - 24 Sep 2019 : 23:54:25
The article is quite long this small quote below is an ongoing development in the saga.
++++++++++++++++++++++++++++++++++++++++++++++++++++
"Germany's state of Hesse, where collapsed travel group Thomas Cook's German airline Condor is located, said it is ready to help the airline's application for a federal government bridging loan.
"Obviously we will have to look whether there is a basis for help by the state, just as with every other company," said state leaders in a joint statement issued in the capital Wiesbaden on Monday, affirming their readiness to support Condor.
The statement came after Condor asked the government for help.
"Condor ... is continuing operations," the German airline said in a statement.
Thomas Cook says there are roughly 140,000 holidaymakers currently traveling with its German units. "
https://www.businessinsider.com/thomas-cook-subsidiary-condor-to-receive-bailout-loan-from-germany-2019-9?r=US&IR=T |
| toubab1020 |
Posted - 24 Sep 2019 : 19:10:06
Thomas Cook ceases operation: A nightmare for Gambia tourism sector
Tuesday, September 24, 2019
The ‘tremendous success’ making by The Gambia tourism sector as indicated by the President of the Republic, His Excellency Adama Barrow during the State Opening of the 2019 Legislative Year address is likely going to be cut short by the latest announcement from the UK Civil Aviation Authority that “Thomas Cook Group has ceased trading with immediate effect, with all flights and holidays cancelled.”
This latest announcement has become a nightmare to all tourism stakeholders in The Gambia as well as people of the Gambia as Thomas Cook Group remains the country’s biggest and leading tour operator that has been flying over half of the total number of arrivals to destination Gambia year-in-year-out without break for almost three decades.
Tourism Minister Hamat Bah said the collapse of Thomas cook will adversely affect Gambia’s economy which represents 30% of GDP.
“It was great shock to learn their bankruptcy. Government will make plans to put something in place to bring British tourists by inviting other airlines to cheap in to fill the gap,” Mr. Bah said.
Buna Njie, chairman of Gambia Hotel Association said: The closure of Thomas Cook is a serious blow in the tourism sector because the expected number this year which 57000 tourists who booked their flights will be decreased.”
“Hotels managers, officials of Gambia Tourism Board put a strategy plan to invite other airlines Gambia Experience, (British ) FTI German airline and 3 TUI – Anglo-German Tour Operator from UK to put more flights.”
Last year 209, 134 tourists visited The Gambia, which 52,103 were British.
This season, 40, 000 British tourists booked hotels,
17,000 booked flights to come to The Gambia without staying hotels.
For the first time, in 2018, in the destination, Thomas Cook Group increased its weekly frequency flights from UK and Holland to nine which tremendously added to 209,135 the number of tourist arrivals by air to the destination in the last season.
Since the Gambia is not exempted per the UK Civil Aviation Authority announcement, it will cause a big blow in the expected season which is at the corner as many employees might face redundancy.
Through a telephone conversation, Charbel Hobeika, CEO and managing director of Gambia Tours, and also an agency of Thomas Cook in The Gambia responsible for transportation of guests from and to airport and hotels declined commenting on the issue, citing contractual agreement between Thomas Cook Group and Gambia Tours.
He, however, referred this reporter to the Gambia Tourism Board (GTBoard) and Ministry of Tourism and Culture for better comment.
The director of the GTBoard could not be reached to comment on this latest development at the time of going to press. This reporter was made to understand that they were on an Emergency Risks Assessment (ERA) meeting in the afternoon to ascertain the level of damage this latest development will cost the sector.
Meanwhile, Peter Fankhauser, chief executive of Thomas Cook has apologised to millions of their customers and thousands of their employees saying the tour operator’s collapse was a “matter of profound regret.”
Veteran Journalist Pap Saine contributes to this reporting.
Author: Yunus S Saliu
http://thepoint.gm/africa/gambia/article/thomas-cook-ceases-operation-a-nightmare-for-gambia-tourism-sector |
| Momodou |
Posted - 24 Sep 2019 : 17:46:04
quote:
Originally posted by rassimian
A couple of points to add to this discussion. Momodou, I am not sure how Thomas Cook Scandinavia can still exist, let alone resume flights, unless they are not part of the same company
The link to the Danish Radio states:
“Spies CEO Jan Vendelbo tells Ritzau that the company's licenses with Thomas Cook Airlines Scandinavia's aircraft have been moved from England to the Nordic company and that it is therefore possible to fly again.”
Flights with tourists departed from Denmark today. Ving from Sweden are also resuming flights as stated by Kiwi above.
Both Spies and Ving were bought by Thomas Cook som years including their aircrafts. |
| rassimian |
Posted - 24 Sep 2019 : 13:17:46
A couple of points to add to this discussion. Momodou, I am not sure how Thomas Cook Scandinavia can still exist, let alone resume flights, unless they are not part of the same company. toubab, I don't think there is a connection between Thomas Cook going into liquidation and the Brexit fiasco. Thomas Cook have been in financial trouble for many years. Their debt has been mounting up and despite paying the CEO £8 million over the past 3 years ,which in my opinion is criminal, their lack of business organisation is mainly to blame for their current demise. Over the past years the evidence has been mounting that something was not quite right with this company. If we just look at the Gambia connection they have reduced not only the number of airports from where you could fly to the Gambia but also the number of flights themselves. For example, from Manchester flights have been reduced from 3 per week to 2. I have always flown out of Manchester but the number of people who have travelled from Scotland, Wales and the Midlands from this airport has been noticeable.
I am no expert on what caused the demise of TC ,it was probably a combination of factors but the bottom line is that they were in competition with other airlines/companies on short haul routes and weren't doing well. I don't know about their long haul destinations but flights from Manchester to Banjul were usually full. I remember reading that once an aircraft was half full with passengers every other seat was profit for that company. Don't know if that is true.
I spoke with my Gambian friend yesterday morning to give her the news. She was shocked to hear it and said there was nothing in the Gambia press about the TC failure. This is bound to have a major impact on Gambian economy as I think that most tourists from the UK travelled on Thomas Cook flights or package deals and made up the majority of the tourists to the Gambia over the November to April period. Liquidation means that the company itself cannot be sold, but maybe any aircraft that they owned could. We must hope that another airline steps in to take over the UK to Banjul run but I have my doubts, otherwise there is no way that the number of UK tourists who regularly visit or would like to visit the Gambia will be able to find or pay for alternative routes. I have checked all other ways of getting to the Gambia and they are all more expensive than TC fares have been. Looking at Gambia Experience they are quoting £740 for return flights, nearly double the Thomas Cook fares that were available. |
| kiwi |
Posted - 24 Sep 2019 : 12:42:13
The Swedish Company Ving cancelled all flights yesterday but has now announced that all flights are going as usual again from today. Tuesday.
Flights to Gambia usually starts de last week of October. |
| toubab1020 |
Posted - 24 Sep 2019 : 11:11:29
MY THOUGHT OF THE DAY 
Just a random thought,it seems to me a very odd time for, THOMAS COOK PLC to go into
ADMINISTRATION just as Brexit complications have reached a peek, I ask you dear reader to consider the time line and any connections that you may wish to make .I find this interesting. |
| Momodou |
Posted - 23 Sep 2019 : 22:22:23
Thomas Cook Scandinavia will resume flights according to Spies. Danes will be able to travel to destinations from tomorrow.
https://www.dr.dk/nyheder/indland/spies-genoptager-rejser-efter-ejerkonkurs |
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