Boris Johnson urged to ‘seize assets’ of Thomas Cook bosses to compensate axed staff

Boris Johnson urged to ‘seize assets’ of Thomas Cook bosses to compensate axed staff

- in Usa News

MINISTERS were yesterday urged to “seize the assets” of former Thomas Cook execs to compensate axed staff.

Tory MP Rob Halfon demanded the action — saying it was a scandal directors “plundered the firm and took it to ruin”.

Panos Pictures

CEO of Thomas Cook, Peter Fankhauser, has pocketed £8.4million since 2014[/caption]

AP:Associated Press

Boris Johnson has been pushed to use the assets of Thomas Cook bosses to compensate axed staff[/caption]

His call came as Transport Secretary Grant Shapps revealed plans to add 50p to plane ticket prices to cover the cost of any potential future passenger repatriations.

He said taxpayers faced a £100million bill to bring back 150,000 Cook customers.

Nearly a third are already home after the Government chartered 40 jets.

Mr Shapps said he wanted to explore ways that the next time a tour operator collapses, they can keep their planes flying long enough to bring customers back.

And speaking in the Commons, he insisted: “This has been an unprecedented response to an unprecedented situation.”


Thomas Cook’s bosses shared nearly £50 million in pay and bonuses before the collapse that cost 9,000 jobs.

Boss Peter Fankhauser has got £8.4million since 2014 and predecessor Harriet Green pocketed £11million in 2014/15.

Other past execs Manny Fontenla Novoa, Frank Meysman and Michael Healey shared almost £30 million.

Getty – Contributor

Manny Fontenla-Novoa was CEO of Thomas Cook from 2003 to 2011 and bagged £16.8million[/caption]

Getty – Contributor

Fankhauser’s predecessor Harriet Green took £11million alone in 2015[/caption]

Mr Shapps said it was “very important to allow the correct channels to do their job” — but also pointed out the liquidator has the power to grab the money.

He added that the management played a “very large contributory part” to the firm’s downfall and insisted the Government was right not to step in with a bailout.

Mr Shapps also vowed to review insolvency laws to give customers more protection — as well as investigating claims other airlines put up prices by up to 400 per cent.

Thomas Cook

Chairman Frank Meysman made £2.2million[/caption]


Chief Financial Officer Michael Healey made a whopping £8.3million[/caption]

AFP or licensors

Passengers across the world have been left stranded after Thomas Cook ceased trading[/caption]

Thomas Cook has ceased trading

  • The Government and CAA are working to help passengers fly back to the UK
  • Depending on your location, this will be either on CAA-operated flights or by using existing flights with other airlines
  • If you are due to depart from a UK airport with Thomas Cook Airlines, don’t travel to your UK airport as your flight will not be operating and you will not be able to travel
  • If you are currently abroad and your flight was with Thomas Cook, new flights are being provided to return you to the UK
  • These repatriation flights will only be operating for the next two weeks until October 6
  • For further advice and details of your return journey please read I am currently abroad
  • Also see this page here giving information for customers

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