“Thomas Cook Canada says ‘business as usual’ despite parent firm trouble”
National Post, Financial Times, by Scott Deveau, November 22, 2011
Source: google images
In the wake of plummeting stocks and news its parent company in the United Kingdom had commenced with emergency talks with financiers for the second time in a month, Thomas Cook Canada has been left reeling. Despite efforts to create an optimistic spin, consumers are left apprehensive. In the wake of political unrest, shaky demand in countries such as Europe, among others, has led to shares in the Thomas Cook Group PLC dropping 75% in trading on the London Stock Exchange. Speculation that the company will eventually cease to operate in Canada is quietly expressed. While Thomas Cook Chief Financial Officer, Paul Hollingsworth emphasized financial goals are in place to address the current crisis, the company’s death knoll is tolling. Despite sunny predictions of a rosy future and assurances that bookings are being accepted as usual, consumers are wary. Could there be anything worse than the idea of having a long-planned for trip torpedoed at the last minute by a travel company meltdown? The potential of standing at the airport, sunscreen, holiday wear, and that great book in hand, only to be met with the news the company has folded, is too much to bear for most vacation-deprived Canadians.
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