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Thomas Cook To Cut Jobs After Weak U.k. Trading

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Inflation and Staycations, bon voyage......

http://online.wsj.com/article/SB10001424052748703882404575519150409253366.html?mod=googlenews_wsj

Thomas Cook to Cut Jobs After Weak U.K. Trading

By KAVERI NITHTHYANANTHAN

LONDON—Thomas Cook Group PLC, Europe's second-largest travel operator, said Tuesday it will cut jobs and other expenses in the U.K. after higher-than-expected costs, mainly at its airline operations, and weak U.K. demand prompted another profit warning.

The U.K. and Ireland are the company's largest markets, but it made a big loss in these countries in the first half of the current fiscal year as demand slumped due to the economic downturn. The market has remained weak due to worries about large spending cuts planned by the U.K. government.

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Inflation and Staycations, bon voyage......

http://online.wsj.com/article/SB10001424052748703882404575519150409253366.html?mod=googlenews_wsj

Thomas Cook to Cut Jobs After Weak U.K. Trading

By KAVERI NITHTHYANANTHAN

LONDON—Thomas Cook Group PLC, Europe's second-largest travel operator, said Tuesday it will cut jobs and other expenses in the U.K. after higher-than-expected costs, mainly at its airline operations, and weak U.K. demand prompted another profit warning.

The U.K. and Ireland are the company's largest markets, but it made a big loss in these countries in the first half of the current fiscal year as demand slumped due to the economic downturn. The market has remained weak due to worries about large spending cuts planned by the U.K. government.

Not being a typical HPC spendthrift, but have you seen the price of package holidays nowadays?

Between 2000 and 2007 you could usually secure two weeks to a typical beach resort for less than 500 GBP each if you booked particularly early or late.

Nowadays, you are looking at least 800 or 900 for anything outside of the chavviest of chav holes.

We used to take 3 holidays a year via high street travel agents - but haven't done so for the last few years. It just doesn't feel worth it as the money is too hard earnt.

Nowdays, we tend to more trips to the continent using low cost airlines & Expedia. TBH I expect this is more their issue rather than our crazed consumers cutting back.

High street travel agents desperately need to reduce costs and add more value if they are going to carry on.

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Not being a typical HPC spendthrift, but have you seen the price of package holidays nowadays?

Between 2000 and 2007 you could usually secure two weeks to a typical beach resort for less than 500 GBP each if you booked particularly early or late.

Nowadays, you are looking at least 800 or 900 for anything outside of the chavviest of chav holes.

We used to take 3 holidays a year via high street travel agents - but haven't done so for the last few years. It just doesn't feel worth it as the money is too hard earnt.

Nowdays, we tend to more trips to the continent using low cost airlines & Expedia. TBH I expect this is more their issue rather than our crazed consumers cutting back.

High street travel agents desperately need to reduce costs and add more value if they are going to carry on.

Agree. Economies of scale make a big difference too - price something too higher - volume drops, raise price to keep profit margins up. Same with housing market - transaction volumes going right down with higher pricing, economic spin reduces, lower number of refits etc.

Inflation - a policy to hell if your customer base cannot stomach it compete with the rest of the world.

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Not being a typical HPC spendthrift, but have you seen the price of package holidays nowadays?

Between 2000 and 2007 you could usually secure two weeks to a typical beach resort for less than 500 GBP each if you booked particularly early or late.

Nowadays, you are looking at least 800 or 900 for anything outside of the chavviest of chav holes.

Depends a lot on where you are booking. I book through http://www.GreatLateDeals.co.uk who are part of travel republic, and the deals are still pretty good. I've splashed out £1960 for 3 holiday in October, novermber ad December... 3 seperate weeks, in the canaries, All inclusive, flights, taxes, baggage, transfers, accomodation, food, drink. Averages out at £650 a trip, cheapest of the 3 was £500.

It's worth rememebering that this is the canaries, a 4 HOUR flight away, and I only stay in good quality hotels as I take my laptop and need a room with a big safe to lock it in.

There are still some good prices out there, just not if you walk into a highstreet travel agents.

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High street travel agents desperately need to reduce costs and add more value if they are going to carry on.

It's only ignorance / laziness that allows most of them to continue existing.

Haven't booked a package deal since 1997 I think, and was horrified when a pal recently told me he and his Mrs were paying £500 each for a week in Majorca in Sept.

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Not much point going on holiday, now we all have the Internet! :huh:

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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