Tuesday 22 October 2019

UK vows to rescue 600,000 Thomas Cook customers

 

Thomas Cook has 600,000 customers on holiday, meaning governments and insurance companies could be forced to step in and bring them home if the company goes into administration. Stock Image: Getty Images
Thomas Cook has 600,000 customers on holiday, meaning governments and insurance companies could be forced to step in and bring them home if the company goes into administration. Stock Image: Getty Images
Independent.ie Newsdesk

Independent.ie Newsdesk

The British government insists it has plans in place to bring home stranded holidaymakers if Thomas Cook goes out of business, an event that would likely spark chaotic scenes at resorts and airports around the world.

The bosses of the world's oldest travel company were meeting lenders and creditors in London last night in a last-ditch attempt to raise €225m to keep the company afloat.

Thomas Cook has 600,000 customers on holiday, meaning governments and insurance companies could be forced to step in and bring them home if the company goes into administration. Unions and the Labour Party have urged the government to stump up the cash, but UK Foreign Secretary Dominic Raab suggested that was unlikely to happen.

"We don't systematically step in with the taxpayers' money when businesses are going under unless there's a good strategic national interest," Mr Raab said, but he added that plans were in place to prevent anyone from being stranded.

Irish Independent

Today's news headlines, directly to your inbox every morning.

Editors Choice

Also in World News