Civil Aviation Authority has flown back 40 per cent of stranded Thomas Cook holidaymakers September 27, 2019 A total of 61,000 Thomas Cook customers have now been flown back to the UK by the Civil Aviation Authority (CAA). On Thursday it used 69 flights to bring home a further 15,000 people, taking the total of those returned to the UK following Thomas Cook’s collapse to 40 per cent. Read more: MPs launch [...]
Thomas Cook: MPs launch inquiry into ‘corporate greed’ at collapsed holiday giant September 26, 2019 Thomas Cook bigwigs will be hauled in front of MPs in the coming months and forced to explain the firm’s catastrophic collapse, which left 150,000 Brits stranded abroad and forced the biggest peacetime repatriation in history by the British government. After meeting this afternoon, the Commons’ business select committee agreed to launch a wide-ranging inquiry [...]
17,000 more Thomas Cook passengers flown back to UK September 26, 2019 Around 17,000 people were flown home on specially chartered planes yesterday three days after they were left stranded by the failure of Thomas Cook. The Civil Aviation Authority said it managed to bring back 95 per cent of all customers whose Thomas Cook flights were scheduled on the day. It flew 71 different flights. Read [...]
Thomas Cook: UK will try to recoup £100m repatriation bill from companies September 25, 2019 The government will go to credit and debit card companies as well as travel insurers for money in the coming weeks, in a bid to recoup the cost of repatriating tens of thousands of stranded Thomas Cook customers after the firm went bust on Monday. Giving an update in the Commons, transport secretary Grant Schapps [...]
Thomas Cook: Travel giant ‘collapsed with a £3.1bn balance sheet deficit’ September 25, 2019 Thomas Cook would have run out of cash by early October had it not gone into liquidation on Monday, such was the calamitous state of the travel giant’s finances, according to reports. In a High Court witness statement, now-former chief executive Peter Fankhauser said the firm had a balance sheet deficit of more than £3bn. [...]
State handout means Thomas Cook’s German subsidiary keeps flying until March September 25, 2019 While authorities soldier on with bringing home more than 100,000 stranded Thomas Cook customers this morning after it went bust on Monday, the firm’s German subsidiary, Condor, has been saved by state financing. The German government has given Condor six months’ financing, worth €380m (£350m), to continue trading and find a rescue deal. Read more: [...]
Thomas Cook Polish unit collapses days after saying it was stable September 25, 2019 Thomas Cook’s Polish unit has announced its insolvency, local authorities revealed today. Yesterday the company cancelled flights for two days and stopped taking new bookings after parent Thomas Cook collapsed on Monday. It came after the firm on Monday said it was continuing day-to-day operations and was in a stable condition. The government yesterday chartered [...]
Thomas Cook collapse: Regulators and business groups clamour for answers September 24, 2019 Regulators and business groups today lined up to demand answers over the collapse of holiday giant Thomas Cook. Accounting watchdog the Financial Reporting Council said it is mulling a full-scale probe into whether it breached accounting standards. A spokesman said it is considering the case “as a matter of urgency”. Read more: Thomas Cook collapse [...]
Airlines accused of price gouging after Thomas Cook collapse September 24, 2019 Airlines have been accused of exploiting the demise of rival Thomas Cook after passengers complained of a huge increase in prices. Holidaymakers looking to book future trips have complained of a surge in fares on the same routes served by the collapsed travel firm. Read more: Thomas Cook: Former workers will not receive pay packets [...]
Thomas Cook: CBI backs probe into executive pay after collapse September 24, 2019 Influential business lobby group the CBI has thrown its weight behind a full-scale inquiry into executive pay at collapsed holiday giant Thomas Cook. Nearly 15,000 people returned to Britain yesterday on specially-chartered flights after the firm collapsed under the weight of a £1.7bn debt pile. More than 100,000 people are still awaiting repatriation by the [...]