Tuesday 15 October 2019 / 1:35 PM Business / Rebecca Long Bailey

Long Bailey responds to Thomas Cook chief executive evidence at BEIS committee

Rebecca Long Bailey MP, Labour’s Shadow Business Secretary, commenting on former Thomas Cook chief executive Peter Fankhauser telling the BEIS select committee today that no UK minister contacted the company in the days leading up to its collapse, said:

“There has been a clear dereliction of duty by the government.

“It is shameful that ministers failed to make contact with Thomas Cook at such a vital time when other international governments were stepping in, and failed to examine the excessive bonus culture when it was very publicly facing difficulties.

“There must be a full public inquiry into the government’s handling of this scandal.”


Notes to Editors

  • No UK minister contacted the Thomas Cook bosses in the six days leading up to its collapse, while Government ministers from Germany, Spain, Bulgaria, Turkey and Greece all made personal contact with the then chief executive Peter Fankhauser, he told MPs.
  • Ex-chief executive Peter Fankhauser earned a bonus in 2017 which was worth more than half a million pounds in cash, a cross-party committee of MPs heard.
  • On whether he should pay back Mr Fankhauser replied: “I fully understand the sentiment in the public and I understand the sentiment of some of our colleagues. However, what I can say to that is that I worked tirelessly for the success of this company and I am deeply sorry that I was not able to secure the deal. But it was not one-sided that I failed. There was multiple parties who had to contribute to the deal which finally then didn’t succeed.”