A precautionary request is requested by the « Green Party

The Green Party does not give a name but TC is targeted

The request to the Bundestag concerns tourism companies established throughout Europe that may have difficulties, particularly because of Brexit. As the German newspaper states,  » it is clear that the description given applies only to Thomas Cook « .

The Thomas Cook group had poor results

Thomas Cook had a « disappointing » year in 2018, as Peter Fankhauser, the Group’s Chief Executive Officer, had said. While sales increased by 6%, the group posted a net loss of £163 million (approximately €190 million).

After the generally weak winter quarter, net debt would have even reached £1.6 billion.

The environmental group wants to better protect holidaymakers

In the event of the insolvency of a TO such as TC, customers are insured, however the German Federal Government has limited the total amount of insurance to 110 million euros, as it feared excessive insurance premiums. The Greens are calling for an increase of at least 300 million euros. If this is not enough, they would like Parliament to examine other systems for securing customer deposits.

Thomas Cook rejects any speculation

The Thomas Cook Group rejects the Handelsblatt’s speculation that a request to the Bundestag was intended to ensure insolvency in connection with a possible bankruptcy of the group.

According to a statement by Thomas Cook,  » Brexit is a major political and economic challenge and puts pressure on many sectors of the economy. It is understandable that the Greens are concerned about consumer protection. But this subject is not new and has no causal link with our society. This application is based on speculative scenarios, by ignoring extremely complex relationships and causing uncertainty for consumers … « .

Serge Fabre