As an aside, some of the aircraft they leased were also used as aerial refuelling tankers and transport aircraft by the RAF.
Rather than the military buying aircraft, they awarded a contract to a company, AirTanker Services, (which is a joint venture between Airbus, Rolls Royce, Cobham etc, ie the companies that would have got the money for new aircraft), which owns and operates the aircraft. As part of that, they also lease out aircraft that the RAF isn’t using to other companies, which in the past has included Thomas Cook. Presumably in the event of war, these aircraft would be requisitioned to the RAF.
These same aircraft are also used for VIP travel, so when the UK’s PM flies somewhere, it’s technically in a leased jet. We can’t even afford our own full time Air Force One.
Fortunately they spun off their financial arm to Travelex some years back, so my hefty stack of Thomas Cook Travelers Cheques (mainly in Lire and Deutsche marks) is still safe.
Well, there’s this.
But it remains to be seen whether any outcome would see them parting with any of their ‘rewards’.
I’m surprised that Treveller’s Checques are still a thing
Honestly, I don’t know if they are; these go back to the 80s, when having a ready supply of various European currencies was useful for me.
As a long-time corp watcher, I’ve seen this melodrama play out in a nauseatingly repetitive manner for SO long, as have we all.
You appear to be correct on this count. Corey is not incorrect on this count, but the tone would lead one to believe that the whipping boy is one of his regulars–private equity.
If you run down that path, you’d soon find yourself of the impression of another common scenario: Corey misunderstood or omitted or misstated something for a story.
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