Thomas Cook: Insolvency

(asked on 2nd October 2019) - View Source

Question to the Department for Transport:

To ask Her Majesty's Government what estimate they have made of the amount of the cost to the taxpayer arising from the administration of Thomas Cook they will be able to recoup from (1) travel insurers, (2) debit and credit card providers, and (3) other travel providers through which passengers may have booked their Thomas Cook holiday.


Answered by
Baroness Vere of Norbiton Portrait
Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
This question was answered on 8th October 2019

This is one of the largest travel company failures we have ever seen. A failure of this size, and the number of passengers affected, is unprecedented. In these circumstances it is right that the Government should step in and help affected passengers return home as smoothly as possible.

We are seeking to minimise the impact on the Government and taxpayers by recovering tax payer funds expended in relation to the repatriation operation where appropriate through the ATOL scheme, credit card companies and travel insurance.

The majority of Thomas Cook passengers were ATOL protected. The costs for repatriating those passengers will be covered by the ATOL scheme.

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