Thomas Cook Needs £1.1 billion to Avoid Collapse | Aviation International News

Thomas Cook Needs £1.1 billion to Avoid Collapse

The integrated UK tourism group owns airlines in Germany, the UK, Scandinavia, and Spain.

By Cathy Buyck • Contributor - Europe

September 20, 2019

The British Airline Pilots Association (BALPA) on Friday called on the UK government to intervene and prevent the collapse of Thomas Cook Group, which urgently needs £200 million ($250 million) in order to safeguard a £900 million recapitalization deal and its survival. If the integrated travel group cannot secure the additional funding and files for bankruptcy, which according to UK media could happen in a matter of days, it could trigger one of the largest airline failures in Europe. Thomas Cook Group owns airlines in its three main source markets in Germany, the UK, and Scandinavia—Condor, Thomas Cook Airlines UK, and Thomas Cook Airlines Scandinavia—as well as Thomas Cook Airlines Balearics, based in Majorca, Spain. As part of its ongoing restructuring and to raise cash, it put its airline division up for sale earlier this year, though so far without success.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

ITA Airways Taps Archer for Italian Air Taxi Plans

Italy’s flag carrier is Archer’s first European airline partner

An artist’s rendering shows two Archer Midnight eVTOL aircraft in ITA Airways livery.

Airlines Confront Ongoing Impact of Middle East Conflict

High fuel costs and extended route disruption could force longer-term changes

Emirates Airline

Skyhop Plans Island Routes With Noemi's Electric Seaplane

Agreement between start-ups could lead to orders for up to 15 aircraft

Skyhop Aviation and Noemi Aerospace leaders

A220’s Performance Drives BermudAir’s Fleet Growth

Airline plans to gradually replace its Embraer E-Jet fleet

BermudAir Airbus A220

Air India Backs SkyDrive Emergency Medical eVTOL Plans

Partners say eVTOLs could accelerate response times in crowded Indian cities

SkyDrive plans eVTOL medical flights in India

Airbus Balances Shareholder Returns and New Aircraft

Rival Boeing arguably claimed bragging rights at the Farnborough International show

Airbus A350-1000

Virgin Firms Up eVTOL Air Taxi Alliance with Joby

Connections to London Heathrow and Manchester airports will start first

Joby eVTOL route network

ATR Chases New Regional Markets for Twin Turboprops

Iran war and wider geopolitical pressure stall buying decisions

ATR 42-600 in Papua New Guinea