Thomas Cook collapse

BreakingMore Thomas Cook slots sold

Thomas Cook slots have been sold at Manchester, Birmingham and Stansted to Jet2.com, the Official Receiver has announced.

No price on the Jet2.com deal

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The sale price of the slots to Jet2.com has not been disclosed.

It is the second announcement of a sale of former Thomas Cook slots announced on Friday.

Earlier, slots were sold to EasyJet for £36m.

Thomas Cook collapsed in September when the 178 year old holiday firm entered compulsory liquidation.

Easyjet's Thomas Cook slots

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EasyJet has given some more detail about the Thomas Cook slots it has acquired.

At Gatwick Airport it has 12 summer slot pairs and eight winter slot pairs and at Bristol Airport it has six summer slot pairs and one winter slot pair.

It says there will be more information in the year results announcement on 19 November.

BreakingThomas Cook Gatwick and Bristol slots sold

Thomas Cook's UK airport slots at Gatwick and Bristol have been sold to Easyjet, the Official Receiver said.

The sale price was £36m and the Official Receiver said this was the first sale of the collapsed tour operator's airport slots.

Government to set up Thomas Cook injury compensation scheme

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The Government is to set up a statutory compensation scheme for Thomas Cook customers who face losing out on injury compensation claims because of the company's collapse.

In a Commons statement, Andrea Leadsom said the official receiver has alerted the Government to an "important outstanding matter relating to personal injury claims against Thomas Cook companies impacting customers" who suffered life-changing injuries, illness or death.

She added: "As Thomas Cook has entered into liquidation without insuring any protection for pending claims the vast majority of claimants who are not covered by the insurance, including customers who have suffered very serious injuries and loss of life, will be treated as unsecured creditors.

"This means it is very uncertain whether they will receive any of the compensation they would have ordinarily received against their claims.

This is an extraordinary situation which should never have arisen. We intend to develop proposals for a statutory compensation scheme."

Thomas Cook inquiry cut short by election

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MPs on the Business, Energy and Industry Strategy Committee, have written to Andrea Leadsom, the business secretary, to outline recommendations in the wake of the collapse of Thomas Cook.

The committee has been holding an inquiry into the collapse of the tour operator, taking evidence from former bosses including Peter Fankhauser, Manny Fontenla-Novoa and Harriet Green.

It suggests strengthening of clawback of bonuses so that are “provisions on clawback need to be strengthened and the scope of clawbacks extended”

It also adds that the government should seek “a binding commitment from lenders that those who have lost their jobs as a result of a corporate liquidation can benefit from a loan payment holiday or mortgage payment holiday”.

Rachel Reeves, the Labour MP who chairs the committee, said: “Our inquiry has been cut short by the election but it’s clear that a series of misjudgements at Thomas Cook led to its collapse. The piling up of debt, confused business plans, lack of challenge in the board room and by auditors, and aggressive accounting practices all contributed to the failure of the business.

“During our inquiry, we’ve witnessed buck-passing and blame-shifting but precious little humility or reflection from those at the top of the business".

Can the Thomas Cook brand be resuscitated?

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Chinese investment house, Fosun, which owned the bulk of Thomas Cook before it collapsed in September, has put in a bid to buy the defunct travel agent's brand, according to the FT.

The paper reported that Fosun is close to acquiring the brand and its intellectual property assets, which would allow the business to be resuscitated as an online travel agent, just months after it collapsed.

Rival travel agent Tui has also put in a bid for the brand, it said.