News That Matters

Tag: Cook

British tour operator Thomas Cook left thousands of customers uninsured

British tour operator Thomas Cook left thousands of customers uninsured

World
Nov. 5 (UPI) -- Britain's government said Tuesday that defunct tour operator Thomas Cook lacked insurance to cover potential claims for serious injury, illness or deaths for thousands of customers. Business Secretary Andrea Leadsom told the House of Commons that customers who experienced "life-changing" illnesses or injuries while on Thomas Cook flights had almost no chance of receiving compensation after the company entered insolvency proceedings on Sept. 23. "Thomas Cook only took out insurance cover for the very largest personal injury claims," she said. "For agreed claims below this figure up to a high aggregate amount, they decided to self-insure through a provision in their accounts." Leadsom told the House of Commons that the government should set up a statutory compensation progr...
Thomas Cook ex-boss defends £500,000 bonus payment

Thomas Cook ex-boss defends £500,000 bonus payment

Business
Media playback is unsupported on your device Thomas Cook's former boss has defended a bonus payment of £500,000 and said he was not the only one to blame for the collapse of the holiday operator. Peter Fankhauser told a cross-party committee of MPs that he worked "tirelessly" for Thomas Cook.While he was sorry for the collapse, he said the reasons were "not one-sided".Committee chair Rachel Reeves, who asked Mr Fankhauser if he would give the bonus back, told Mr Fankhauser his apologies rang "rather hollow".Mr Fankhauser and other members of Thomas Cook's former management were being grilled by MPs over what led to the liquidation of the business which cost thousands of jobs and left many holidaymakers stranded overseas. Staff back at work i
Thomas Cook buyers pledge to save 555 shops and 2,500 jobs

Thomas Cook buyers pledge to save 555 shops and 2,500 jobs

Business
All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.The independent travel agent said the move gives it shops in areas where it had little or no presence, including Scotland and Wales.John Hays, who set up the Sunderland-based firm 40 years ago, said he hoped the shops would reopen within days.It had been an emotional day, he said, with many staff crying when they were told their jobs were saved.He said it was difficult to give cast-iron guarantees about every Thomas Cook shop, because there would now be talks with individual landlords. However, "it is certainly our intention to take on all the staff; to welcome them back," he added. The shops will be branded under the Hays n...
Up to 2,500 jobs saved as Thomas Cook UK shops sold

Up to 2,500 jobs saved as Thomas Cook UK shops sold

Business
Hays Travel has agreed a deal to buy all 555 Thomas Cook stores in the UK, saying its expansion could lead to 2,500 jobs being saved.Hays, the country's largest independent travel agent, told Sky News it had already taken on 494 ex-Thomas Cook employees and job offers were pending for many more. There were 9,000 staff in the UK who lost out when the company collapsed last month - prompting the country's biggest peacetime repatriation exercise to recover more than 150,000 holidaymakers stranded abroad. ...