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To the poster who said its all due a 5th column vs UK interests
5th Column certainly
but TC British Interests?
Most of the passengers are shunning traditional British holiday regions and Seaside Towns
for the likes of Tunisia Cuba Turkey and Barbados!
Whilst gushing about how much better they are than Britain!
They are the 5th column!
Multi Cultural Groupies.
Britain apparently isnt good enough for their honeymoon or holiday!
These are also the avid supportes back home of Charities Multi Ethnic Teaching and Events
Ethnic Restaurants and the like,.
well i said TC would go bust, Johnson would lose in court so 3 for 3 NO BREXIT???
maybe TUI may need em given the max 737 fiasco
yep nighthawk and morbing btw
fosun can grab the juicy low hanging fruit thats for sure
as for selling what airplanes the former group owned which werent many i dont expect them to shift - hard to sell and a glut available...........................
morning illbe - guess what - there is a dipstick on mtro trying to say i am you and you are me! some real desperate people about
havent read this bb today but have you seen the treatment being dished out to holiday makers by hotels to try and force them to pay up again for their holidays - i hope these hotels get black listed!
Fosun... may get the best cherry pickings now...at some stage....
They pretty much quoted that famous Economist....... Keynes?
'When things change I change my mind, what do you do Sir'
what did Fosun say about why they were not stumping up the extra cash when they were prepared to pump another £450mill into what we already knew was a basketcase?? did the penny (£2billion) suddenly drop?
"Hedge Fund collecting 20 Mill for doing nothing."
They took a risk...........
Just like those who bought shares recently, don't assume that buy buying already issued shares that you are somehow supporting the company.
They also took a risk........
Both have made statements.
None positive.........which is really unfortunate for staff.
Looks like it's just a case of winding the whole thing up and selling the bits.
- No one will want the stores, they were just a liability anyway.
- Most of the aircraft are leased.
- The trade name has been all but destroyed.
- The slots have value......
- The hotels were part of a JV, the accountants will seek to sell TCG's half of that JV. I recall value to TCG was circa £40m.
Oh, and whatever was left in the bank accounts.
out of work. Hedge Fund collecting 20 Mill for doing nothing. That sums
up a system that is rotten from top to bottom. Insider Information
is passed on in secrecy and if you are one of them you live in luxury and
can turn a blind eye to everything that is unacceptable.
In Kingston/Surrey there are beggars in the street who cannot speak
English. Modern civilization? FAT CATs are on a plane to somewhere
warm where they are misplaced contributing to pollution. Breeding
out of control and freely available to everyone. Have a nice day.
Have Fosun made a statement? They dodged a bullet
where is the neset fan club?
"BOD who hopefully will get investigated through the Government Insolvency Service!!"
Best of luck with that, they had a deal about to come to fruition, and they would have taken legal advice.
Suggestions of Insolvent trading are not going to give them any hassle........
...but once that deal was grounded (pun intended), insolvency occured immediately.
They are in the clear.........of anything illegal, IMHO.
Good call on the hope of a news leek ref the value of the airline bids. There’s enough unpaid disgruntled staff to whistle blow the BOD who hopefully will get investigated through the Government Insolvency Service!!
yeah spot on wolves at door demanding to be paid, clearly they couldn't even pay the pay bill it was that bad hence this weekend as that was due this week
what a way to treat staff
Regards airline offers, I'd suggest that they were low and that the banks would not have approved the dumping of assets at below book value.
Why, because it would have only made the balance sheet more insolvent that it already was.
Yes, it would have given them some cash, but the banks saw them burning through cash.
Paul's comment yesterday makes sense, the only one that did.... ;-)
The banks pulled the rug last week because the invoices and salaries were about to get paid and the bank account was about to get emptied of remaining cash.
Closing it when they did preserved that cash balance and likely reduced the use of any overdraft facility.
Simply put, time ran out.......
as i said at the time the airlines had no incentive to make decent offers as they knew it was highly likely that TC would go under and the slots would be up for grabs much cheaper
seeds of this were sown in the 90's withe internet, like print media, retail etc, BOD's refused to accept it
gives TUI a few more yrs though as the oldies still like packages
Even with the additional funding, you would have just been delaying the inevitable. Simlply TCG were spending to much money. They should have made staff redundant, closed shops sold off parts for survival.
Even with the Fosun deal it would have just delayed it. The changes should have happened 12-18 months ago.
The BOD are to blame. They just collected their a
Salaries not working in the interests of the company or shareholders.
I am however still super curious what airline offers there were. I hope that gets released in a news leak sometime...
"The EU is a self serving entity that is hell bent on Federalism and the end of nation states."
Yes, a United States of Europe.......
I for one would rather be part of that than at the whim of it, by being outside of it.
The United States of Europe will exist, and so will the United States of America.
We will be piggy in the middle, and both of them will tear us to shreds.
Why is it do you think that Trump is so against the EU, simply put it is an economic threat to the USA.
Us leaving is good for him, it weakens the EU and it makes us a potential US puppet.
...and the problem with democracy (one of many), an idiot has the same vote as a genius.
If the banks deemed it wasn't worth keeping TCG afloat then I don't think the taxpayers should. It's not like it's strategically important for the economy. They failed to move with the times and their debt was unsustainable. Repatriation's a separate issue - that's about helping your citizens get back home.
Agree and on BBC this am , Repatriation will cost taxpayer £40mill as ATOL picks up the rest
GOV would be bailing out this basketcase every month if it started
BOD was out nearly every week asking for another 100mill
"When we leave end of next month great things will happen to the UK."
Such as what?