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Thomas Cook
Maik:
--- Quote ---EU Votes to Protect Consumers, Employees in Bankruptcy Cases
Stronger and better consumer and employee protection in cases of corporate failure is the focus of a European Parliament resolution passed on Thursday, aiming to address issues created by the collapse of Thomas Cook.
MEPs are calling on EU governments to use the European Social Fund and Globalization Adjustment Fund to help businesses and affected employees, and is urging the Commission to identify EU instruments that could compensate for the damage to the sector as well as assess the need for new measures to prevent future crises, particularly in view of the fact that 32 airlines have gone bankrupt since 2017.
The Commission and EU governments should ensure that workers impacted by insolvency are guaranteed their earned wages and retirement benefits, MEPS said.
They are also expecting the Commission to table a proposal on employee rights to receive information and be involved in consultation.
--- End quote ---
https://news.gtp.gr/2019/10/25/eu-votes-to-protect-consumers-employees-bankruptcy-cases/
Maik:
--- Quote ---China’s Fosun Acquires Thomas Cook for $14.2m
Thomas Cook’s largest shareholder, Chinese conglomerate Fosun International Limited, said on Friday, that it would be purchasing the bankrupt UK travel group for 14.2 million dollars weeks after it collapsed leaving behind thousands of holidaymakers stranded.
In July, as part of a rescue plan, Fosun had announced that it would be injecting 450 million pounds together with bondholders and banks that would provide Thomas Cook with the liquidity to trade through to 2020 and invest for the future. The plan collapsed.
--- End quote ---
https://news.gtp.gr/2019/11/04/chinas-fosun-acquires-thomas-cook-14-2m/
Maik:
--- Quote ---Thomas Cook Germany Goes Down Too
The Thomas Cook domino effect continues to be in full swing with its Germany subsidiary, Thomas Cook GmbH, announcing this week that it had cancelled all trips for 2020 leaving some 660,000 customers and 2,100 employees affected.
--- End quote ---
https://news.gtp.gr/2019/11/13/thomas-cook-germany-goes-down-too/
TonyD:
From a recent easyJet announcement...
easyJet has successfully acquired Thomas Cook's slots for £36 million
Gatwick Airport (12 summer slot pairs and 8 winter slot pairs)
Bristol Airport ( 6 summer slot pairs and 1 winter slot pair )
Contractual terms have concluded and the slots have been awarded to easyJet.
We will provide further details in the airline's full year results announcement on 19 November 2019.
(anyone know what date(s) might constitute a "winter slot"?)
Maik:
--- Quote ---Thomas Cook: Taxpayers face £156m bill for company's collapse
Taxpayers face a bill of at least £156m for the response to the collapse of Thomas Cook, according to a report by the government's spending watchdog.
The travel company's collapse last September left 9,000 staff out of work and 150,000 holidaymakers stranded.
The National Audit Office (NAO) said the government had agreed to pay £83m towards the cost of getting customers back home, as well as £58m in redundancy and related payments.
But the final cost is not yet known.
Other costs include at least £15m for liquidating the business.
--- End quote ---
https://www.bbc.co.uk/news/business-51955635
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