Thomas Cook collapse: Anger mounts over bosses’ bonuses as Brits brought back

Thousands more Thomas Cook customers are being brought back to the UK as anger mounts over multimillion-pound sums received by bosses of the firm prior to its collapse.

The conduct of directors will be scrutinised as Insolvency Services fast-tracks an investigation into the circumstances surrounding the company going under, amid reports bosses received up to £50m in bonuses in the years before the collapse.

According to the Civil Aviation Authority (CAA), 14,700 people were repatriated to the UK on the first day of the firm’s collapse, which accounted for more than 95% of people who were originally due back home on Monday.

The CAA said that in order for people to continue their holidays, they will be brought back to the UK on the same day they were due to depart.

The company’s collapse ruined people’s holidays and even weddings, with one groom named Thomas Cook left stranded in Rhodes with his fiancee.

Some 150,000 tourists will be brought home over the next two weeks in a flight programme costing £100m.

Richard Moriarty, chief executive of the CAA, said the government had asked his organisation to launch “the UK’s largest ever peacetime repatriation”, which includes 45 aircraft from as far away as Malaysia.

The planes have been chartered to operate approximately 1,000 flights from 53 airports in 18 countries over the next two weeks.

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It is not just Thomas Cook that has come in for criticism, with other airlines being accused of exploiting the firm’s collapse.

People on social media have found that some flight prices have almost doubled, including a Jet2 journey that was £284 but has now gone up to £511 since Thomas Cook went under.

Jet2 say that pricing is based on supply and demand and price rises are an “inevitable consequence”, but add it is adding more seats and flights to help customers.

Boris Johnson visited staff at the British consulate in New York City, who are working to bring stranded travellers home.

“It’s a tough time for those who have had holidays disrupted but team hard at work to support them,” he tweeted.

“Thanks to all the staff who represent our country so well.”

Earlier in the day, Mr Johnson questioned whether directors should pay themselves “large sums of money” as their businesses go “down the tubes”.

Speaking to reporters in New York, the prime minister said: “How can we make sure that tour operators take proper precautions with their business models where you don’t end up with a situation where the taxpayer, the state, is having to step in and bring people home?

“I have questions for one about whether it’s right that the directors, or whoever, the board, should pay themselves large sums when businesses can go down the tubes like that.”

Liquidators will now see if any money can be found to hand back to staff and creditors.

The travel agent had about 550 high street locations across the UK, however, it leased its planes, rented its shops and acted as a broker with third-party hotels and cruise ships, meaning it has minimal assets.

One of the world’s oldest and largest travel companies, Thomas Cook had been trading for 178 years – having been established in 1841.

As of this year, the group employed 21,000 people in 16 countries, operated 105 aircraft and 200 own-brand hotels and resorts.

Thomas Cook customers are advised to visit the CAA’s dedicated website, thomascook.caa.co.uk, for more information about what they should do next.

(c) Sky News 2019: Thomas Cook collapse: Anger mounts over bosses’ bonuses as Brits brought back