Thomas Cook: Taxpayers face £156m bill for company's collapse
When the world's oldest travel company collapsed, the Department for Transport instructed the Civil Aviation Authority to repatriate all 150,000 Thomas Cook customers who were stranded overseas.
Labour MP Meg Hillier, who chairs the Commons' Public Accounts Committee said"lessons need to be learnt and future risks understood"."The resources to cover other airlines going bust is now very limited. New regulations are urgently required."The collapse led to the biggest-ever peacetime repatriation of 150,000 stranded holidaymakers
"Without this effort, stranded passengers couldn't be guaranteed a safe journey home, causing stress and disruption to families, which would have had a knock-on effect on the wider economy with so many employees abroad." The report also warned that limited resources would be left in the fund which provides assistance to customers whose holidays are protected by the Atol scheme.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taxpayers to foot bill for next tour firm collapse, UK watchdog warnsNational Audit Office says demise of Thomas Cook left industry fund severely depleted
Read more »
North Sea oil and gas in 'paper-thin' position as prices plungeMarket collapse could halve production revenues as UK economic crisis bites, says report
Read more »
Fears grow of London lockdown over coronavirus as early as this weekendThe messages allege that the bill will introduce similar measures to those that have been implemented in Italy
Read more »
Plan to protect veterans from 'vexatious claims'The bill protects troops from prosecution for alleged historical offences in conflicts overseas.
Read more »
Coronavirus: Care worker fears system could collapse over virus fearsThe social care system is keeping pressure off the NHS, but those with carers are concerned they will be forgotten.
Read more »
UK travel industry urges government action to forestall collapse of businessesCurrent package regulations are not designed to cope with a global crisis of the coronavirus outbreak’s scale, sector leaders warn
Read more »