When Thomas Cook folded suddenly leaving customers and staff stranded all over the world. Certain airlines wanted to charge Thomas Cook staff £10, 000 each to return home. But Virgin Atlantic flew Thomas Cook crew home free of charge in upper class. Employers would not go this far to help staff let alone staff…
Thomas Cook would have run out cash within days according to a court witness statement by its Chief Executive. The travel group was facing demands of almost £500m from a long list of hotel partners and creditors at the end of September 2019 according to insolvency documents filed by the company. It was left with…
Andrea Leadsom, business secretary, wrote a letter to Dean Beale CEO of Insolvency Service has asked to launch a probe into the collapse include the role of management who were criticised for taking big salaries while overseeing the group’s decline. CEOs at Thomas Cook took home £18.7m of pay over the past 10 years, according…
Thomas Cook has approached the UK government for a bailout to save itself from collapse after its lenders threatened to pull out of a proposed rescue deal. The travel group was locked in talks yesterday with multiple potential investors which include the government providing a lifeline of £200m as part of the demand from its…
British Airways pilots have called off the next strike in their dispute, scheduled for 27 September 2019 saying “ It was now time for a period of reflection before the dispute escalates further and irreparable damages is done to the brand. We hoped BA would now change its approach and negotiate seriously with a view…
Willie Walsh CEO of British Airways’ parent IAG, is facing grilling by investors over the handling of a 48-hour pilot strike which wipe out more than £80m from profits of the UK’s largest airline. British Airways which was forced to ground 800 flights yesterday, will be under pressure to do the same today as walkout…
British Airways pilots have threatened to ground planes and escalate pressure on the airline which is preparing to cancel almost all of its 850 flights during strike action on Monday in a dispute over pay. The government has intervened and asked the UK’s flag carrier for the two sides “to get around the table and…
The 179-year-old travel group has agreed terms of a £900m rescue deal with debtholders and China’s Fosun that aims to save the business but could lead to it being pulled from the stock market. According to the deal Fosun would inject £450m into Thomas Cook in exchange for at least 75 per cent of the…
Indian Oil has stopped the fuel supply to India’s national carrier Air India at six domestic airports because of unpaid dues. The airports where fuel supply has been halted since Thursday evening are Mohali, Visakhapatnam, Kochi, Pune, Ranchi and Patna. “in the absence of equity support Air India cannot handle the huge debt service…