Member Info for Quisty

the auditors told them they had to
if they are being lined up to be sold then they cannot have stuff on the balance sheet, especially brands that are overvalued by £1 billion

TCG have said that yes but will the buyers agree? TCG cannot call the shots, they are not in a good bargaining position, they need to sell to get the financing otherwise they don't get the cash they need

all true but these buyers are not gonna do TCG any favours

yes i agree the tour operator will have to slash prices and that will be TCG

yes its an oversimplification but the principle stands
continuous losses reduced the ability to repay debt and they have been in breach several times
what will be the impact once they have no airline will they have to pay more for seats when they have to buy from other companies like easyjet/jet 2 /TUI?
plus bookings on the decline down 12% v 2018 when bookings were bad because of the heatwave v TUI which is down 5% so underperforming its main competitor

business is about making money ie profit
you cannot go on making losses year after year and remain in business, all that happens is you build up massive debts
eventually banks will not lend you anymore money and you go bust

The past 10 years are relevant because they show the quality of management, the downward trend of this sector etc
I agree the last year is more relevant and this shows trading loss for HY 1 that is LOSS of £356 million which is 16% WORSE than last year. Added to this is a write DOWN of the Brand by 25% £1 billion (this would take a person 31 years to count - and thats if they did not sleep) because of WEAK trading conditions
Why the hell would you buy?

i didnt suggest they were going bust, i said the broker 'probably thinks it might be'
I actually do believe they will not be able to continue in business and they will fold especially looking at the Balance Sheet this morning it is horrendous. It is my opinion and like everyone else on here I can express it

based on the last 10 years performance and the last 12 months particularly and looking at the financials they have posted today and the outlook my statement is far less irresponsible than yours and indeed all these ridiculous suggestions this share is headed to 80p

Have you heard from your sources where the HQ job losses are coming from?
Is it Retail / Airline specific?

They are quoting in the report for 2018 underlying EBIT for the airline £129m so half the group's total
The Balance Sheet value of the airline at 31,3,19 is £553m

probably think TUI will mop up when TCG goes belly up
no money to be made here

then they are useless too

Yes agree fire sale most likely , in a really weak position, the buyers could wait and buy from administrators at next to nothing, out dated business model, useless BOD
am surprised shares are still holding up at 19p

dunno if its dependent on airline sale am assuming that is the expected amount they will get by selling airline and this will see them through that, assume it has been made clear by lenders that they will not be given any more than this as this is max what airline sale will provide
you know employees? what is their take from the inside ? i wonder if they are being told any more details
i read 150 job losses at HQ plus the 300 previously announced

We have heard about Lufthansa and Virgin why have we not heard of the others?
and if they do sell the airline how much will they get? The loan which is very short term only 9 months is dependent on the sale so it means that TC are under a lot of pressure to sell = not a good bargaining position
Also once the airline goes what does that mean for future results?

Yes she was their only success in 10 years and they ousted her
brought it on themselves
its the employees and shareholders who suffer

they will have guarantees that they are first in line to get money back plus interest when company goes into administration. its how they make the money

yes agree with you there , it should be lower given the news

each year they announce massive redundancies so far in 2019 400 have been announced , so jobs are not being protected - PF is doing okay tho