Thomas Cook no longer trading.

[Lizzie Zoom]

Heard a travel correspondent this evening state that the industry is talking about all this costing the Government, then you and I, up to 500,000 million! This is the expected cost of all the aircraft hire charges, fuel, staffing, and paying compensation to all the hotels, and others like coach companies, who should have been paid by TC by now for holidays going back up to 90 days, that they will not be able to do.

Apparently the Aptol funds, to cover this type of holiday company failure, are being wiped out which will have to be replenished by way of extra insurance being paid by holiday makers when they book future holidays.

And the directors received bonuses on top of their million pound salaries !

[Doctor Gollum]

The airlines have to pay into the ATOL scheme in order to be covered by it.

The increase should come as no surprise given the size of contribution that Thomas Cook won't be contributing next year and the scale of covering two weeks of a 34 aircraft operating schedule.

Also, aircraft only make money with passengers on them... The repatriation fleet is only operating one way.

Also that £500m will include the burden of refunding future bookings.

[Lizzie Zoom]

The airlines have to pay into the ATOL scheme in order to be covered by it.

The increase should come as no surprise given the size of contribution that Thomas Cook won't be contributing next year and the scale of covering two weeks of a 34 aircraft operating schedule.

Also, aircraft only make money with passengers on them... The repatriation fleet is only operating one way.

Also that £500m will include the burden of refunding future bookings.

Thanks DG, I meant to type that, half a billion pounds, but added another nought!

It certainly is a massive operation, and no wonder it is going to cost that given what you have explained, plus all the compensation and back payment of the outstanding hotel bills I mentioned

[Rods2]

Heard a travel correspondent this evening state that the industry is talking about all this costing the Government, then you and I, up to 500,000 million! This is the expected cost of all the aircraft hire charges, fuel, staffing, and paying compensation to all the hotels, and others like coach companies, who should have been paid by TC by now for holidays going back up to 90 days, that they will not be able to do.

Apparently the Aptol funds, to cover this type of holiday company failure, are being wiped out which will have to be replenished by way of extra insurance being paid by holiday makers when they book future holidays.

And the directors received bonuses on top of their million pound salaries !

No surprises here where the travel industry has always had more than its fair share of barrow boys, spivs & fly-by-nights as founders, owners and directors so no surprises here. I worked as a contracting programmer for a several years in the noughties for several travel agents and saw a few go bust one of which cost me a bad debt of circa £10k.