Who messed up the Software ???



Thomas Cook refunds to take up to two months reports BBC News

The sheer volume of claims and the possibility of fraudulent activity has contributed to payment delay says CAA.

Thomas Cook refunds to take up to two months - https://www.bbc.co.uk/news/business-49876407





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Thomas Cook boss 'remorse' over collapse but defends pay and bonus payments / BBCNews

The former boss of Thomas Cook (in liquidation) has blamed banks for the collape of the firm. However if Swiss born Mr Frankheimer cares to dig out his signed interim statement for last April, he will find under the heading Financial Considerations, his Board made a point of having £150-200million available during the lean low period starting in September as a requirement for getting them through the cashflow poor Winter and to settle hotelier accounts usually paid 60 - 90 days in arrears.

The banks would appear to have followed this dictat to the letter, demanding the financial cushion being in place before confirming the debt financial (overdraft) future arangement, as opposed to tipping it into the cashflow operations accounting.

In reality the independent directors and the audit committee must have realised some years ago the firm was sailing very close to the wind, and on the verge of collapse. What the Official Receiver has to do now is simply find out if at any time the firm has breached its banking covenants, misled the auditors and possibly trading whilst insolvent.

Ex staff on the other hand may be entitled to an extra 90 days salary in addition to statutory redundancy pay, as the firm at no time consulted the workfirce over redundancy arrangements as they are required to do. This is a little known legal loophole, but needs to be quickly applied as a preferential creditor. A Midlands baed law firm is putting together what amounts as a class action to recover these funds for redundant staff

Thomas Cook boss 'sorry' over collapse but defends pay and bonus - https://www.bbc.co.uk/news/business-49869183

Julian Bray NUJ, EQUITY, MMC,
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https://www.rmt.org.uk/comm/newsletter/templates/preview.jsp?token=5LQIYQdIz2&issue=4450&src=comms_recipients&template=standard

Sack SERCO and get in ex #ThomasCook cabin crew to run the sleeper service!!!!! Watch the on board revenues. Bar take soar! #rmt

Thomas Cook: Loyal highly professional workforce cast aside and failed by their MPs and Councillord says Julian Bray.

Julian Bray Broadcaster, Aviation Expert writes: I live in Peterborough, Cambridgeshire where today 1,200 highly professional, loyal, long service employees are facing up to an uncertain future, possible loss of homes, family break up, and scant prospects of finding employment at a salary level previously enjoyed at the liquidated firm.

14,500 Thomas Cook holidaymakers were flown home on day one of the CAA Operation Matterhorn rescue flights where 45 jumbo size jets, from various parts of the world, have been flying out empty from the UK, to pick up the 'stranded' passengers.

Strange 'wetleased' planes, pilots and crews. Gatwick bound passengers heading for Manchester, then face a bus or long taxi journey home. All very wartime 'business as usual' only it isn't.

Pilots today (Tuesday) are saying they first learned of the collapse at 1am while still in flight. But Manchester Airport bailiffs were attaching writs to grounded, anchored CTX planes at two minutes past midnight Monday morning as landing fees had not been paid !

Throughout the UK, a total of 9,000 ( 20,000 world wide...) dedicated professionals now face getting to grips with food banks, the DWP, robotic job centres, direct debits being bounced, whole communities and the local businesses that support them also facing a sudden dramatic loss of trade and revenue. All just weeks before Christmas....

Expect retail shops to close down, pubs to close, property prices to tumble, as a series of distress sales flood local estate agents. Cars on personal leases to be snatched back. Nursery places vacated. Gym memberships lapsed.

Money is going to be more than just tight.


You would expect local councillors to be at the Thomas Cook former headquarters but no. Many Labour councillors were ironically at the seaside in Brighton populating the bars and cafes singing 'Oh Jeremy Corbyn' along with the new Peterborough MP.

Peterborough staff were summoned by text mesage to attend the firms headquarters, early Monday morning. What they encountered was something out of a horror movie.

Television cameras, bright lights, photographers, journalists and some just watching. A team of hard faced black clad bouncers ( SIA security staff ) hired by the Official Receiver apponted Managers watched every move as the hapless former employees many in tears, were told to rapidly clear their desks (under surveillance) then immediately take their boxes to an exit meeting. More bouncers ensure no souvenirs were taken. The Official Receiver wants the lot, and intact.

Little was said, the scale of collapse was so big, £1.7billion of debt uncovered so far, that Thomas Cook Group with a miriad of subsidiary firms in a multiplicity of worldwide businesses was immediately dumped in the lap of the Official Receiver.

It can only be hoped that the UK Board of Directors many with foreign sounding names, and a former television executive, who amazingly managed to extract their eye-watering bonus payments before the collapse, together with the so called independent non-executive directors are thoroughly investigated and possibly charged if the firm was found to have ever been trading whilst insolvent and/or breaching bank mandates. The Travel Agents lobby Group ABTA on Monday oh so discreetly removed a former Thomas Cook director from its governing Council! The media missed that one!

The 17 banks and Institutions who traditionally offer umbrellas when the sun shines and take them away when it rains. These institutions have for years sucked out the debt interest from the firm, resulting in Thomas Cook constantly playing catch up but never really understanding the travel industry rapid move to the internet and latterly 'the cloud'. Thomas Cook still in the technology darknages had yet to discover the use of Barcodes! This is 2019 for heavens sake!

The media had been carefully drip fed the idea that a gentle liquidation and Administration and resale would follow. Nothing of the sort. No hint of 'Administration' or 'Phoenix Pre-pack liquidation' but a guillotine, all UK parts of this firm dumped along with their traumatised employees on the scrapheap. It isva raw punfeeling legal process now.

The media really does not get it. They talk of pensions, protected payments, but in reality the state payouts are minimal. Rents in this area are astronomical and many landlords have never encountered housing benefit dependent claimants.

Re-employment prospects in this City are grim. And of course the travel industry is entering the low period, very little cashflow, scraping through until January when the new trading campaigns start.

Still next week, the Peterborough City Conservative councillors will be ligging it up at the Party Conservative Conference, the media agenda will have moved on leaving 20,000 families worldwide wondering what the future holds andvwhat on earth had happened. Why them?

They say its grim up north, no, its grim everywhere for dumped unemployed Thomas Cook professionals. They deseve better but we all know there is little hope, few prospects.

On the bright side, several hedge funds broke out the champagne as they bet heavily against Thomas Cook pulling through and the punters winning billions in the process!

British Airways allegedly did well too, charging some stranded Thomas Cook pilots and crew £$10,000 for seats home from Las Vegas, however Virgin did the right thing and found crew seats for them.

Julian Bray

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Thomas Cook what is happening or not?!


Peterborough, HQ of Thomas Cook,
Saturday September 21st:

'Thomas Cook is currently trading and its lenders are urgently negotiating to secure its future'... Calm words but in reality The Thomas Cook Group is like a swan, all serene above the waterline but flapping hopelessly under the water, writes Julian Bray Aviation Operations Expert, Broadcaster and Journalist.

Simply the Group has an astronomical debt mountain, circa £6billion, and has to urgently put new financial arrangements in place within the next few days.

Sadly duff, highly alarming, information is relentlessly being peddled throughout the day by some TVNews channels, interviewing poorly briefed celeb travel content bloggers and screeching that many  thousands of British package holidaymakers will be stranded!!! The final page of your booking invoice will bear the ATOL certificate and a number.

Screech no more, enjoy your holiday, and if you paid more than £100 of the total invoice using a valid credit card, the credit card company is joined in and will refund the full amount of the TOTAL invoice! ( For the celeb. travel blogger popping up on the bulletins, the authority she could not remember is Section75 of the Consumer Credit Act).

The Monarch collapse provides a useful blueprint and the ATOL bond or levy will ensure all package holiday customers get a flight home. There are reports that some Thomas Cook aircraft are already being parked up 'out of the way' on remote airport gates or stands.

Equally other reports suggest the CAA rescue 'Ghost airline' is already shadowing Thomas Cook aircraft,  should any TC aircraft be seized by worried creditors in far off lands...

So not at all a case of being stranded, just that the aircraft might not be flagged Thomas Cook but could well be any of a dozen or so major or regional airlines with their own pilots and cabin crew.

It is however potentially a huge problem for the politicians as there is only £18 million in the ATOL bond, but a full repatriation rescue flights programme will cost some £600 million!

As its mostly calculated in US $!!

And planes for hire are still quite busy!

So you can see why it is now claimed that Thomas Cook directors this weekend are pleading with Government to magically come up with the topslice £200million! It will not have escaped your notice that it could all blow up right in in the middle of Party Political Conference season! Now a collapse of this size will stifle any Conference tittle tattle, soat or sackings.

You'll find details of the proposed initial series of deals on the Thomas Cook Group website in the media centre press release dated August 28th, but to save you the trouble,  its akin to strictly dancing on the head of a pin....

Virtually impossible, but the firm was sufficiently bullish to talk it up, existing shareholders would however be a casualty and the firm would be carved up, and control passed to a China based group.

The £900 million rescue funding offered by the Chinese would seem to have done it. However they forgot to first get the sanction ie approval of Royal Bank of Scotland, Barclays and Lloyds Bank who have demanded the funding should be increased by another £200 million, essentially tonsed the Group through the lean cashflow winter and early Spring period.

Its like a stack of dominoes,  or a complex jigsaw, if one interlocked conditional deal goes over then so do the rest. The firm then without the support of creditors and banks calls in the administrators.

The key date is Friday 27th, when all the stakeholders are due to meet,  that date was fixed before, the 'unexpected' demand for an extra £200 million was revealed! So the Board could well decide the game is up and opt for administration.

Assuming the firm gets through the 27th September meeting unscathed, then the next problem will be the UK Civil Aviation Authority who must approve the renewal of the ATOL certificate. Without it, the Thomas Cook airline is grounded and cannot operate.

So that backgrounds what is going on, loyal Thomas Cook staff must be very worried, and their retired pensioners equally so. Different parts of Thomas Cook are already divided into separate legal entities. The package holiday (ATOL protected) was sold to you  by Thomas Cook Retail Ltd.

But what of the customers? So far the company is trading normally - their words not mine - but the average family or group faced with all this and politicians on an extended holiday ligging it up in seaside conferece hotels ( the hotels also possibly crefitors of Thomas Cook Group!) seemingly not giving the plight of holidaymskers a thought.

However Ugandan born solicitor Shailesh Vara MP has had words with the management and assures me he is looking out for the Peterborough based staff.


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Met Police issue statement over use of drones near Heathrow


http://news.met.police.uk/news/statement-ahead-of-planned-protest-at-heathrow-airport-on-friday-13-september-381009

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Drones over Heathrow on Friday ???

http://news.met.police.uk/news/statement-ahead-of-planned-protest-at-heathrow-airport-on-friday-13-september-381009

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Scotland Court of Sessions Judgment on the "unlawful" perogue of parliament

https://docs.google.com/document/d/1HkC_7jsUzSXEKR1sZrGFugD4dI2If_tkgfPqXn29j3k/mobilebasic

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BBC News: Ryanair pilots vote for further strikes in September...

Ryanair pilots vote for further strikes - https://www.bbc.co.uk/news/business-49585118

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CargoLogic Air load one of their mega all cargo aircraft. In addition to purpose built frighters, many end of first lease, state-of-the-art wide-bodied passenger aircraft are currently being snapped up and rapidly re-purposed for all cargo operation. As the 21st Century trend is away from airport hub/spoke operation - apparently Heathrow [LHR] is yet to get the memo… -and towards single aisle narrow bodied passenger/cargo hold aircraft, working point to point schedules continues apace ...

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