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Government Must Reveal Thomas Cook Figures - Cortes

22 September 2019

TSSA General Secretary, Manuel Cortes, has called for the Government to reveal how much it is prepared to spend repatriating thousands of Thomas Cook holidaymakers.

The move follows comments by the Foreign Secretary, Dominic Raab, suggesting there was “contingency planning” to avoid people being stranded.

Thomas Cook is today meeting their biggest shareholders and creditors in London in a final bid to piece together a rescue bid. The travel company is at risk of falling into administration unless it finds £200 million in extra funds.

TSSA – which has members at Thomas Cook both in high street shops across the UK and in its office operations - has called for immediate Government intervention to secure the future of the firm.

Manuel Cortes said: “We hope a deal can still be done but Dominic Raab and other Ministers must come clean and tells us exactly how much the Government is willing to spend bringing 150,000 British holidaymakers home.

“There no escaping the fact that doing so will cost more than the £200 million needed by Thomas Cook to survive.

“Factor in the potential loss of 9000 jobs, plus benefit payments and loss in tax and national insurance revenue, and it makes no sense whatsoever for the Government not to step in and rescue Thomas Cook.

“This calls for strategic thinking. Thomas Cook was run very successfully in public ownership between 1948 and 1972.

“The government now taking a stake or completely taking it over, must not be ruled out as this will be an investment. Saving Thomas Cook would cost a very small fraction of the billions used to shore up banks during the financial crisis.”

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