The Stack Overflow podcast is back! Listen to an interview with our new CEO.
77

Yes, there were many, many indicators that Thomas Cook was in financial trouble, from analyst downgrades to their share price and their bond rate. But the company had been in financial trouble for years, being slow to address its competition as its bread-and-butter businesses were stagnating. They hadn't paid a dividend since 2011. In terms of operational ...


22

This BBC article has a panel outlining the rights of UK customers regarding this: If you are on a package holiday, you are covered by the Atol scheme. The scheme will pay for your accommodation abroad, although you may have to move to a different hotel or apartment. Atol will also pay to have you brought home if the airline is no longer ...


17

The below applies to UK customers only, with other answers able to cover other countries TC has operated in. For package holidays: Any package booked through Thomas Cook is protected by ATOL. You are able to get a full refund through them. Do not go to the airport unless you have booked yourself onto a new holiday yourself. Flight only If you have only ...


11

They have modern planes, low overhead and high utilization, which should make them low-emission per pax. On the other hand, it is a well-known paradox when you become more efficient at consuming some resource when fulfilling a need, which increases demand superlinearly so total use of that resource becomes higher. If low costers did not exist, there would ...


11

Economic reason At least in the Netherlands, in a news article was written that Thomas Cook was already searching for another party to be taken over or to buy them, because of (financial) problems. That alone is a reason to worry for the fall of this company. To see if a next Cook has the same problem, you could read the financial status of the company, ...


9

Other answers mention indicators. Still, it is important to say that the indicators don't necessarily imply a demise. As an example, Air Canada filed for bankruptcy in 2003; it never stopped flying, and it has been in the black for several years now.


8

Passengers would be hard pressed to do better than financial analysts at predicting the collapse of a company. If you can do that generally you stand to make an enormous amount of money. One reasonable indicator would be the stock price : Clearly there have been signs of trouble for over six months. Just as with investors, though, it's a question of more ...


6

No. But they'll try to aim for transfers which are possible. The airline has some resources If they give you a difficult transfer, e.g. your plane is late and you have 40 minutes to clear customs and security and get to your gate, they may send airline staff to intercept you and shortcut you to the front of lines and escort you to your connection. ...


6

In terms of aviation, an airline going totally out of business like this is exceptionally rare. Most airline failures tend to be takeovers or bankruptcy restructuring. For instance American Airlines bought out the troubled TWA and kept it flying, eventually folding its operations into American Financial problems soon resurfaced and Trans World Airlines ...


5

In general, it's impossible to predict whether a company is going to cease to operate. That's because they'll hide enough of the details to prevent you from predicting this - they have to. And if you could predict this, that would by itself change when it's happening. Let's use the example of Thomas Cook to show why this is. Imagine you knew ahead ahead of ...


3

ATOL Protection One thing you can do, is make sure your holiday package is protected by a system such as ATOL (Air Travel Organisers' Licensing) in the UK. It ensures that you don't lose the money you paid out or become stranded abroad if your travel company collapses. If a protected travel company ceases trading, the scheme protects customers who have ...


3

For most practical purposes, an international flight will, when in flight, be considered in the jurisdiction of the state where the aircraft is registered. That is set by the Tokyo Convention you are referring to in Article 3, paragraph 1: The State of registration of the aircraft is competent to exercise jurisdiction over offences and acts commited on ...


2

As other answers have said, it is not possible to predict exactly when a business will fail, but there were many factors indicating that it was imminent. However to answer the literal question "Can a passenger predict a travel company is going to go bankrupt tomorrow?" it would seem the answer is yes. If the British newspapers are to be believed, this man, ...


2

You seem to be posting this elsewhere too so just linking for answery-goodness. As one person mentions there: "Air China in Beijing doesn't care. I've seen contracted staff at Air China outstations being pickier, but if you're departing from Beijing you'll be fine. ". I've travelled with two carry-on items on Air China. They certainly allow a jacket and a ...


2

Airlines can know you are in the airport if you checked your bags in. It is illegal for the plane to leave with your bags if you're not on the flight. At security, I assume they don't really care about your booking, only that you are on a flight and have the authorisation to be in that area of the airport. On all international flights, and on domestic ones ...


1

There are no specific rules as to what the minimum drinking age is (no official law), individual airlines can choose their own rule, usually the age that applies to the country where the airline is registered. So to find the drinking age you will need to check with that specific airline. For example, from this HuffPost article: If you are flying American ...


Only top voted, non community-wiki answers of a minimum length are eligible