The fall of Thomas Cook opened Pandora’s box

first_imgThe German airline resumed regular flight operations and asked the government for a loan while the parent company went into liquidation and ceased operations. The sister airline Thomas Cook Airlines UK grounded all flights immediately following the announcement of insolvency early Monday morning. Condor also filed a motion to protect the proceedings to become fully independent of the Thomas Cook Group. This would protect the carrier from the possible requirements of the parent company. RELATED NEWS: Adria Airways continues to hold active talks with potential investors and major creditors and remains committed to achieving a positive solution for all. Adria Airways still advises its passengers to check who their carrier is before arriving at the airport, and if it is Adria Airways, they should contact the sales offices where the tickets were purchased. We recommend all travelers and partners to regularly follow online announcements on www.adria.si . The Slovenian government rejected Adria’s request to help her with four million euros. Condor Flugdienst GmbH received a guarantee from the German and Hessen governments for a six-month bridging loan of 380 million euros. This obligation is subject to the approval of the European Commission. Only after the European Commission makes a positive decision, the loan of the German development loan corporation KfW can turn out. The date of the decision has yet to be confirmed. The loan is needed to avoid bottlenecks during the traditionally weak winter season, following the insolvency of former British parent company Thomas Cook Group, Condor reports. Source: Croatian Chamber of Commerce, Večernji list, Condor At its session last week, the government decided to help CA with HRK 250 million to stabilize operations before the planned recapitalization On the other hand, it is interesting how Thomas Cook asked the UK Parliament for financial assistance, which was denied, as in the case of Adria Airways. and after the company failed to financially close the rescue plan, it declared bankruptcy. On the other hand, the majority owner of Croatia Airlines is the Croatian state, which will still “help” its airline. Photo: Pixabay.com XL Airways, a French budget airline, said it had suspended ticket sales due to financial difficulties, as the latest example of low-cost airlines facing financial problems (recalling the case of Aigle Azur). They stated on their website that flights could be canceled from September 23 onwards, although they hope to launch regular flights for this weekend. The collapse of Thomas Cook, one of the oldest and most famous travel agencies in the world, opened Pandora’s box and led to problems throughout the European airspace as well as in other airlines. Thus, the Slovenian national airline Adria Airways suspended almost all its flights three days ago due to lack of money needed to continue operating. The company has officially announced that the cessation of all its operations,  THE DESTRUCTION OF THOMAS COOK: 190 BRITISH TOURISTS STUCK IN DUBROVNIK MVEP AND MINT: NO THOMAS COOK GUEST IN CROATIA WILL BE DAMAGED OR UNCERTAINTED last_img

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