Important I feel to point out before people start panicing about Thomas Cook aircraft and thinking they are going to drop out of the sky, aircraft are not the same as cars and at 15 years old are not considered 'old' and 'a load of junk' within the industry.

Aircraft can easily last into their late 20's before they are retired or more commonly, are bought for cargo operations as they are still very safe and well looked after, the only downside an older aircraft has to the operator is the fact the maintenance costs become higher as they have to do more expensive checks.

Thomas Cook will no doubt get shareholder approval and their aircraft will be bought and leased back to them, it's an easy money maker for a leasing company and Thomas Cook will then be able to start to reduce their debt.

It's going to be a long and slow process, but I can't see them going anywhere anytime soon.