Give Thomas Cook ‘real financial support’, ministers urged


Missionaries should be ready to give Thomas Cook “real financial forward”, a union representing staff at the struggling travel company has said.

The set on could fall into administration in days unless it finds £200m in extra lucres needed to secure its future.

The Transport Salaried Staffs Association (TSSA) fellowship has called on Business Secretary Andrea Leadsom to save Thomas Cook “no content what”.

Government sources suggest ministers are reluctant to bail out the concern.

TSSA general secretary Manuel Cortes told Mrs Leadsom it was up to the administration to save thousands of jobs and to allow Thomas Cook to “flourish”.

He bring up in a letter: “It is incumbent upon the government to act if required and save this iconic cornerstone of the British Violent Street and the thousands of jobs that go with it.

“Thomas Cook can be a incomparably successful business and must be given every opportunity to flourish. I thirst you to stand ready to assist Thomas Cook with real pecuniary support.”

Shadow business secretary Rebecca Long-Bailey said “all rapport options” for saving the travel giant should be explored.

She added that “the administration must consider stepping in and taking an equity stake to avoid this calamity”.

BBC business editor Simon Jack reported on Saturday that guidance sources had questioned the financial wisdom of stepping in to save the company.

He reported the government did not see its options as being between spending £200m to help Thomas Cook with its change shortfall or £600m to repatriate its British customers abroad.

Currently there are 600,000 Thomas Cook clients on holiday, of which 150,000 to 160,000 are British.

Wedding worries

Chloe Manly from Leicestershire is due to get married in Zante in October and booked the wedding box with Thomas Cook back in June 2018.

Chloe and her fiance pass on also have 33 family members flying out, with their skips costing more than £33,000 in total.

With the big day looming, Chloe is discouraged by Thomas Cook’s handling of their booking.

“I have emailed the homogenization concierge and co-ordinator, neither has got back to me. We are unsure if we will be able to fly. Although, it’s Atol-protected I force booked three weeks’ leave from work and there’s no pledge that I will be able to get time off if I had to rebook.”

“We’ve had constant questions from our line that we are unable to answer,” she added. “This is causing great reference to, worry and stress to all of us involved.”

It comes after a noticeable shift in tinge from Thomas Cook in its replies to concerned customers on social conveyance.

Clients had earlier been told to ignore media speculation on Friday, but are now being prompted they have Atol protection – a sort of industry-backed insurance – “in the experience that Thomas Cook goes into administration”.

Thomas Cook, one of the time’s largest travel companies, was founded in 1841 to operate temperance day unsettles, and now has annual sales of £9bn.

It employs 22,000 staff, 9,000 of those in the UK and act as 19 million customers a year in 16 different countries.

Mounting strains

Thomas Cook’s financial difficulties have mounted over the biography year, culminating with the agreement in August of a rescue deal led by its tallest shareholder Fosun.

In July, Thomas Cook produced a business design saying that it needed £900m in refinancing, up from a previous viewpoint of £150m. The £900m would come from Fosun, the group of creditors and some other investors.

The gang of lenders then commissioned an independent investigation. Its financial advisers thought Thomas Cook would require an additional £200m on top of the £900m already instructed, which would bring the total refinancing needed up to £1.1bn.

Thomas Cook won in finding a backer to provide the additional £200m, but the BBC understands it has since fascinated out and the group of creditors will not come back to the table unless that additional funding is initiate.

A final vote on that deal was due to take place this week, but it has been procrastinated until next Friday in the face of the latest demand for extra standby funding.

Thomas Cook has scolded a series of problems for its profit warnings, including political unrest in fete destinations such as Turkey, last summer’s prolonged heatwave and clients delaying booking holidays because of Brexit.

What are your ethicals?

If you are on a package holiday you are covered by the Air Travel Organiser’s Licence scheme (Atol).

The machination will pay for your accommodation abroad, although you may have to move to a several hotel or apartment.

Atol will also pay to have you brought untroubled b in if the airline is no longer operating.

If you have holiday booked in the future you at ones desire also be refunded by the scheme.

If you have booked a flight-only deal you purposefulness need to apply to your travel insurance company or credit bank card card joker and debit card provider to seek a refund.

When Monarch Airlines collapsed in 2017, the superintendence organised to bring home all the stranded passengers, whether they were take in by Atol or not.

Here is more information on Atol protection and Your doubts answered

Are you a Thomas Cook customer or member of staff? If you’ve been stilted by the issues raised here, you can get in touch by emailing

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