Thomas Cook

Debate between Grant Shapps and Christian Matheson

Wednesday 25th September 2019 Commons Chamber

[Grant Shapps]

I know that the hon. Gentleman has considerable expertise in these areas. The answer to his question is that £420 million is the projected cost of future bookings through the ATOL system, insured or through its funds.

[Christian Matheson (City of Chester) (Lab)]

Over the weekend I was contacted by numerous constituents, most of whom work out of Manchester airport. The message that they were giving me was that trading could have continued, if not a bail-out but a £200 million line of credit guaranteed by the Government had been extended. Is that correct, and if so, why was it not extended?

[Grant Shapps]

We have this slightly strange situation where everyone is acknowledging how badly they think the company may have been run and expressing concern about the decisions that have been made and the directors, but at the same time saying, please bail out this failing—what people think is a failing—organisation. The simple answer is that if we thought that it was possible, we absolutely would have done something.