Member Info for CoogieMallorca

I just want the news out................ At least we all know where we stand.

Very unfair,............ I live in Mallorca, work in the tourism industry and see all the regular TO's on their day to day business, over 20 years ago, there were only 1fifth of the services availble today. The survey seems to have been very poorly prepared and to be honest a load of twaddle.... Regardless of what is said, Thomas Cook and all the other top TO's are good at their game, they try to please everyone and as we know it is impossible. We are all guilty of one time or other trying to get the best for nothing or paying very little. But I wish the press would give this poor company a break ... At the end of the day, it is all down to cost and adapting to modern holiday moods, as loyalty from the old holiday makers has long banished....

THE BEST AND WORST PACKAGE HOLIDAY PROVIDERS
TOP 3

Trailfinders (37) - 91%

Jet2 Holidays (600) - 87%

Riviera Travel (30) - 86%

BOTTOM 3

First Choice (73) - 75%

Tui (1,033) - 74%

Thomas Cook (289) - 69%

Source: Which?. The numbers in brackets refer to how many customers of that firm took part in the survey.

The categories in the survey were accommodation, customer service, description matching reality, holiday reps, organisation of holiday and value for money.

Applegarth, Don't feel sorry for people buying at 10, 15 or anything else. We are all mature adults and know or should know what we are doing... nobody held a gun to anyones head here.....

When everything becomes clear and the real facts are presented to the shareholders then we will decide what and how to continue.

Please don't be offended, but there are too many posts on here about what a shame , what a shame, NO, it is getting boring...... we buy and sell and move on and if in the middle we lose then tough cookies.....

I am down 72%, I too am staying until the end. I have just bought another batch to bring my average down. Yes it maybe a big mistake, however as we all know, if you can't afford to lose , then don't gamble. I may be wrong, but something tells me that this is not quite the end. I have dabbled with this share since 2012 and like many others no doubt it has become part of the family now :)

DMcG54 Those dopey dagos need to chill out

NO NEED TO BE OFFENSIVE:
Besides you have that slightly wrong..... read below
Shall we keep to the main reason we are on here, our investment and not demeaning others.....

"The word 'dago' is a derivative of the Spanish name 'Diego', which means 'James'. It was originally coined in the 17th century by British sailors to indicate Spanish or Portuguese people, especially sailors. Despite the hispanic origin of the word, in the 19th century the word 'dago' became more commonly used in the USA as a derogatory term for Italians, due to the large immigration from that country. However, it is still used to indicate Spanish or Portuguese people as well, but rarely the French."

Thomas Cook's CEO, Peter Fankhauser, visited Mallorca a month ago to reassure the hoteliers about the news coming from London of the financial problems of the British-German tourist group.
06-04-2019 | M. À. Cañellas
12 Tweet it Whatsapp Bigger Bigger Print
Financial entities that operate in the Islands refuse to pay the hoteliers the promissory notes signed by the tourist group Thomas Cook, mainly due to the liquidity problems that the British-German touroperator has had for more than a year and a half

This situation affects hoteliers in the main tourist areas of Mallorca, Menorca and Eivissa-Formentera.

"The banks do not anticipate the payment of Thomas Cook's notes, as they did in June, because they do not trust us and this situation will be repeated at the end of July and August. In addition, the tour operator has indicated that in September, by the end of the year, will not pay and everything is postponed to October, "say hoteliers affected Mallorca.

The banks also reject confirming, which is a financial product by which the entity assumes the management and administration of the payment portfolio of a customer, offering, in turn, to the suppliers of said customer the prepayment service of the bills that the latter have pending collection, in this case by Thomas Cook.

The tour operator opts for this payment system due to lack of liquidity, a circumstance that is generating maximum concern in the hotel sector of all the Islands.

"If we talk to the bank to advance the payment of the promissory note, the entity tells us that the situation of the tour operator does not ensure that then can pay the corresponding amounts, which can lead to an insolvency situation," the hoteliers added.

problems

The British-German tourist group put on sale at the beginning of the year its entire air division to generate funds and deal with the debt it has, which exceeds 1,100 million euros. To date he has not received any offers because part of his fleet is old.

The rumors about a possible bankruptcy and cessation of activity was what motivated that at the beginning of last May will be moved to Mallorca the CEO of Thomas Cook, Peter Fankhauser, in order to calm the spirits of hoteliers.

However, despite Fankhauser's messages that they had obtained financing to reach the end of the year, payments to hoteliers in Mallorca and the rest of the islands are delayed. "Hoteliers are keeping the tour operator with these delays, which is not logical," the businessmen point out.

Sadly TC are getting kicked from all sides over in Spain. For some stupid reason the local press decided to report that local hoteliers were petrified that TC was going bust and tried to cash in post dated payments, it was quite normal that the banks refused. Some of you may be able to read Spanish so here is the link, if not then google translate is pretty acurate for a change!

https://www.ultimahora.es/noticias/local/2019/07/07/1092731/bancos-devuelven-hoteleros-pagares-del-touroperador-thomas-cook.html
Thomas Cook's CEO, Peter Fankhauser, visited Mallorca a month ago to reassure the hoteliers about the news coming from London of the financial problems of the British-German tourist group.
06-04-2019 | M. À. Cañellas
12 Tweet it Whatsapp Bigger Bigger Print
Financial entities that operate in the Islands refuse to pay the hoteliers the promissory notes signed by the tourist group Thomas Cook, mainly due to the liquidity problems that the British-German touroperator has had for more than a year and a half

This situation affects hoteliers in the main tourist areas of Mallorca, Menorca and Eivissa-Formentera.

"The banks do not anticipate the payment of Thomas Cook's notes, as they did in June, because they do not trust us and this situation will be repeated at the end of July and August. In addition, the tour operator has indicated that in September, by the end of the year, will not pay and everything is postponed to October, "say hoteliers affected Mallorca.

The banks also reject confirming, which is a financial product by which the entity assumes the management and administration of the payment portfolio of a customer, offering, in turn, to the suppliers of said customer the prepayment service of the bills that the latter have pending collection, in this case by Thomas Cook.

The tour operator opts for this payment system due to lack of liquidity, a circumstance that is generating maximum concern in the hotel sector of all the Islands.

"If we talk to the bank to advance the payment of the promissory note, the entity tells us that the situation of the tour operator does not ensure that then can pay the corresponding amounts, which can lead to an insolvency situation," the hoteliers added.

problems

The British-German tourist group put on sale at the beginning of the year its entire air division to generate funds and deal with the debt it has, which exceeds 1,100 million euros. To date he has not received any offers because part of his fleet is old.

The rumors about a possible bankruptcy and cessation of activity was what motivated that at the beginning of last May will be moved to Mallorca the CEO of Thomas Cook, Peter Fankhauser, in order to calm the spirits of hoteliers.

However, despite Fankhauser's messages that they had obtained financing to reach the end of the year, payments to hoteliers in Mallorca and the rest of the islands are delayed. "Hoteliers are keeping the tour operator with these delays, which is

22.25...

Babanaman100.... What on earth are you on? How can you respond to my post with such a diverse reply.... I am what I am, regardless of what you may think... I don't really care and if you must know, I bought in 2012.... I didn't jump ship then, as I haven't now.... My shares may be insignificant compared to other PI's but YES I AM A GENUINE SHAREHOLDER ACTUALLY AND CARE VERY MUCH ABOUT MY INVESTMENT, I thought that other members may be interested to know that PF was in Mallorca and what he told the goverment, hoteliers and local businesses... nothing else.

PF was here in Mallorca this week...

https://www.ultimahora.es/noticias/local/2019/06/04/1085247/thomas-cook-acabara-temporada-turistica-gracias-apoyo-bancos.html

For those who don't or can't read Spanish.....

This is the press release.

We have enough resources and we will continue to be operational throughout the high season and in winter. And to the question of if we are going to finish the year, yes that we are going to obtain it because now we are a viable tourist group ", affirmed this Tuesday in Platja de Palma the CEO of Thomas Cook, Peter Fankhauser, before the rumors of bankruptcy and cessation of operations for months due to financial problems.

Fankhauser added that "we have obtained the support of the banks and this gives us the absolute security to maintain our operations in the tourist destinations and the future of the touristic group".

This financial support from financial institutions, as indicated, has to be translated with the divestment of assets. "The sale of our airlines will give us maximum economic flexibility."

He acknowledged that summer 2019 will not be easy "because we have reduced air capacity and beds to concentrate on our strong hotel offer and face, in this way, the strong price competition that Turkey, Egypt and Tunisia are making, where British and German families have returned to travel ».

To achieve these new objectives, the group has embarked fully on its star hotel projects: Cook's Club and Casa Cook.

The head of the hotel division of the group, Enric Noguer, who accompanied Fankhauser at the press conference, said: "In moments of crisis there are moments of opportunity. At the time, we were leaders in the sale of tour packages and now we have decided to invest in our own brand hotels. In Spain is expected to reach 40 million euros in two years.

Fankhauser, despite this tactic of reassuring the business mood in the Balearic Islands, did send them a message: "Our strategy is to sell air assets and hoteliers support us. You have to normalize prices, because that's the way it must be to be competitive.

Same here, quite happy to sit on these, qetting rather fed up to be honest of the negative posts as well... being based over here, there are general comments due to the press and continual releases. Hoteliers are getting nervous as in general the market is down in the Balearics more than 25%, hotel staff are being made to take their holidays now instead at the end of the season, offers are flying in left right and centre for last minute bums in bed.. Brexit has a small fault but generally the island is too expensive and people are going else where... TCG has a good reputation here and have always been a strong player. Jet 2 are certainly making a noise as well as TUI trying to maintain first pole... huge drop in the German markets which in turn could help reduce rates and open up different destinations/resorts for the Brits. Fingers crossed that there is some positive news on the airline sale and the pound increases against the euro again...

Thanks Lawson, that was not quite the response I was hoping for, I have done my research as I bought share back in 2011/2012 and have continued to support this stock for many years. I was hoping for some more technical/logistical imput. Not a magic wand response with a SP increase, even I am capable of that :) Not too worry... Thanks anyway

What could happen if Fosun take control? How beneficial could it be to a small shareholder like myself? Appreciate some honest feedback thanks

Well written

I have had varios conversations within the last few days regarding the general census on this company. I have to say there was a lot of negativity initially but I for one am confident that this company will bounce back, maybe not to its full glory immediately, but it will produce what we are expecting. The results are going to please some and annoy others. I for one find this very rewarding, knowing that I am very close to recuperating my losses in the very near future and turning around my small fortune... Maldives is looking more probable every time I check :)

Totally agree. Maybe we are not that happy with PF and his unpersonable interview skills but I can't see them as a brand or company giving up lightly.
Either way, it is now a waiting game.
Who knows who or what is around the corner for this company. Only time will tell.

I must be a saddo, but I just love waking up and clock watching until trading starts.....
One of my fav companies in the travel sector.... very exciting knowing that things are improving, we have been here once before and I sure that they will recover once again.