Thomas Cook ex-boss grilled over £500,000 bonus

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Media captionsAs a bonus Thomas Cook ex boss: & # 39; it's not up to me & # 39;

The former boss of Thomas Cook was baked with a bonus payment of £ 500,000 and is not the only responsibility for the breakdown of the holiday company.

Peter Fankhauser told MP's Cross Party Committee that he worked "disordered" for John Thomas Cook.

He was sorry for the collapse, but said that the reason is "not sectional".

Commissioner Rachel Reeves, who asked Pan Cowger to return the bonus, told Pan Cowger that the apples were poor.

Former Governors and former Thomas Cook executives questioned why MPs were forced to close thousands of jobs on Sept. 23 and many holidaymakers were stranded abroad.

  • Former employee at Thomas Cook Shop
  • Thomas Cook buyers promise to save 555 stores and 2,500 jobs

The former chief executive said that he did not receive the bonus in 2018 but received a £ 750,000 bonus in 2017. Two-thirds of them were cash and the rest were stocks.

& # 39; I'm so sorry & # 39;

Reeves sent Fankhauser money back to the taxpayer for a large repatriation program, asking more than 150,000 holidaymakers to return to the UK and asking staff if they could support double payments.

"I fully understand the sentiment of the public and I understand the sentiment of some of my colleagues.

"But what I can say is that I'm really sorry for not being able to close the deal because I've worked tirelessly for the company's success.

"But what failed wasn't one-sided. There were several parties who eventually didn't participate in the deal, but in the end they didn't succeed."

Fankhauser said, "He must consider what is right, but I will not decide it today."

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Media captionsFomer Thomas Cook employee returns to work

Why did Reeves keep a financing contract for a long time to save a company he didn't "know" to former Thomas Cook former chief executive officer?

Fankhauser said he had "confidence." "Otherwise we didn't work hard and were sponsored by the bank and had a substantial agreement from the bank and creditors on August 28."

He met with MPs Secretary of Transportation Grant Shapps on September 9 and insisted that the travel agency would have survived if the government supported Thomas Cook's rescue plan.

"We estimated Thomas Cook's cost collapse would be much higher than we asked," he said. "I'm not honestly criticizing the government.

"I'm sure we'll have a new start after regaining capital."

In the end, he said the government did not want to set a precedent.

Fankhauser said, "I'm very sad." "I knew I had to throw it in the towel."

Last week, Sunderland-based company Hays Travel announced it would take over more than 555 Thomas Cook stores that could save 2,500 jobs.

Pan Cowger said the announcement was "one of the brightest days in the last three weeks."


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