After the collapse of Thomas Cook left hundreds of thousands of passengers relia...
NEW YORK/LONDON - After the collapse of Thomas Cook left hundreds of thousands of passengers reliant on the British state to repatriate them, Prime Minister Boris Johnson questioned whether bosses should have paid themselves so much ahead of its demise.
Speaking in New York, Johnson questioned why the state should be left responsible for the actions of handsomely paid directors and said tour operators should have some sort of insurance against such debacles. Thomas Cook was brought down by a $2.1 billion debt pile, built up by a series of ill-fated deals, that hobbled its response to nimble online rivals. It had to sell three million holidays a year just to cover interest payments.
“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?”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man named Thomas Cook has wedding ruined by collapse of tour company Thomas CookCook, 29, and his fiancee, 27-year-old Amelia Binch, both from Hucknall, England, have been stranded on the Greek island of Rhodes ahead of their wedding.
Read more »
U.K. tour company Thomas Cook collapses, leaving hundreds of thousands of travelers strandedThomas Cook's four airlines will be grounded, and its 21,000 employees in 16 countries — including 9,000 in the U.K. — will lose their jobs.
Read more »
Travel chaos, jobs lost as UK firm Thomas Cook collapsesHundreds of thousands of travelers were stranded across the world Monday after British tour company Thomas Cook collapsed, immediately halting almost all its flights and hotel services and laying off all its employees. Britain&39;s Civil Aviation Authority confirmed Thomas Cook, a 178-year-old company
Read more »
UK PM Johnson questions whether Thomas Cook bosses 'properly incentivized'British Prime Minister Boris Johnson on Monday questioned whether the directors ...
Read more »
Government should have saved travel firm Thomas Cook - UK Labour PartyThe British government should have stepped in with a temporary rescue package fo...
Read more »
Thomas Cook Shuts Down, Stranding Hundreds of Thousands of TravelersBritish travel company Thomas Cook said it has entered into compulsory liquidation and that all bookings, including flights and holidays, had been canceled—a shutdown affecting more than 600,000 global vacationers.
Read more »