Thomas Cook: Insolvency

Department for Transport written question – answered on 8th October 2019.

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Photo of Lord Browne of Ladyton Lord Browne of Ladyton Labour

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.

Photo of Baroness Vere of Norbiton Baroness Vere of Norbiton Parliamentary Under-Secretary (Department for Transport)

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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