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for mine travel agents are becoming a thing of the past too.
I'll either go direct (nearly always for airlines), or if using "cheapest deal search" websites for accomm prefer those that pass bookings straight through and let you interact directly with the ho/motel for payments / deposits.
What I don't fully understand is how they can go bust before they have paid their bills (and hoteliers get paid 60 ~ 90 days after the guest has left) but they get fully paid by the holiday makers months in advance. So they know their income well in advance, they know their major outgoings well in advance, they have their own air fleet, ...
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Perhaps the managers' bonuses were calculated at strategic times in the year (after receiving payment, but before paying their suppliers). This would tend to inflate the bonuses well above their justified level, based on an annualised calculation.
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Exactly what was going through my mind. They know the future operating cost of the planes, give or take to allow for fuel price charges. They know what the hotels will cost them when they sign the contract with the provider, they know their staff costs, airport charges etc. etc.
Because they have been paying bills on future incomes.
So whenever those future incomes don't arrive anymore, because people are afraid to travel because, well, let's not go there. This isn't the soapbox.
I don't see the british ones in the news here. We certainly have our fair share. My guess is that your favourite search engine will produce a zillion hits on travel agency collapse [insert country]
This caught my eye because Thos Cook was the archetype of a travel agent. Hell, I think I even bought some of their travellers cheques half a century ago.
And "Cooks Tour" entered the vernacular a good century ago.
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Thomas Cook have been hanging on by their fingernails for sometime now..... They kept a large and expensive network of High Street shops when everyone else was moving online. They also operated on very slim margins.