Thomas Crooks: Fraudsters target refund process for collapsed airline October 8, 2019 People trying to claim refunds on flights and hotels booked with collapsed holiday giant Thomas Cook have been warned about possible fraudsters trying to get hold of their details. Britain’s aviation regulator the Civil Aviation Authority (CAA) said this afternoon it had been forced to take “urgent action” against fraudulent activity in relation to the [...]
Thomas Cook customers struggle to recoup funds as regulator’s website hit by ‘unprecedented demand’ October 7, 2019 Thomas Cook customers looking for a refund are being thwarted by excessive demand this morning, as the aviation regulator struggles to cope with the amount of people trying to claim their money back. The Civil Aviation Authority this morning launched its refund process for those affected by the travel company’s collapse last month. Read more: [...]
Thomas Cook paid more than £20m to advisers in days before collapse October 5, 2019 Thomas Cook paid more than £20m to over 30 advisers in its final days as it failed to secure a rescue deal. The payout added to the cash deficit that led to the company’s collapse, with advisers working on behalf of the company, bondholders, shareholders, the pension fund and insurance schemes. They were all involved [...]
Sun, sea and skint Spaniards: Spain plans up €300m tourism rescue package after Thomas Cook collapse October 3, 2019 Spain is preparing a $300m rescue package for its tourism industry, after the collapse of Thomas Cook is said to have left bars deserted and beaches empty at its holiday hotspots. The country’s tourism minister said the cash would be split across 13 different measures, including a credit line for companies struggling to cope. Read [...]
Thomas Cook’s Belgian operations announce bankruptcy October 1, 2019 Thomas Cook’s operations in Belgium have officially been declared bankrupt, putting 500 jobs at risk. A commercial court today ruled that Thomas Cook Retail Belgium – the largest Belgian subsidiary of the collapsed travel giant – had collapsed into administration. Read more: FRC watchdog probes EY audit of Thomas Cook accounts The retail arm had [...]
Ryanair boss Michael O’Leary says package holiday market ‘is over,’ weeks after Thomas Cook collapse October 1, 2019 Ryanair’s chief executive has taken a swipe at the package holiday industry, weeks after the firm that effectively founded it, Thomas Cook, went bust. Michael O’Leary, the budget airliner’s longstanding and often outspoken boss, said the market “is screwed, it’s over”. Read more: FRC watchdog probes EY audit of Thomas Cook accounts Ryanair cut its [...]
FRC watchdog probes EY audit of Thomas Cook accounts October 1, 2019 The UK’s financial watchdog has launched an investigation into EY’s audit of Thomas Cook’s last set of financial results. The Financial Reporting Council (FRC) has started its probe into EY’s audit of the collapsed tour operator’s financial year ending 30 September 2018. Read more: DEBATE: Is Thomas Cook’s boss right to defend his high pay? [...]
DEBATE: Is the Thomas Cook boss right to defend his high pay? October 1, 2019 Is Peter Fankhauser, boss of now-collapsed Thomas Cook, right to defend his high pay and bonuses? YES, says Benedict Spence, a freelance writer. It never sits well, watching those high up the corporate ladder gorge themselves as companies go under. But the case of Peter Fankhauser and Thomas Cook isn’t quite as clear cut as [...]
Thomas Cook: Customers face two-month wait for holiday refunds September 30, 2019 Refunds for package holidays booked with liquidated UK travel giant Thomas Cook could take up to two months to reach customers, the UK’s aviation body warned today. The Civil Aviation Authority (CAA) said that while direct debit customers can expect refunds within two weeks, other people face a wait of up to 60 days. Read [...]
Thomas Cook boss says ‘blame the lenders’ after holiday giant’s collapse September 29, 2019 The last ever boss of collapsed holiday giant Thomas Cook has laid the blame for the 178-year-old firm’s failure firmly at the door of its lenders. Former chief executive Peter Fankhauser said if bondholders and a syndicate of banks – including Barclays, Morgan Stanley, Lloyds and Royal Bank of Scotland – had taken action to [...]