>>Do they really have that many abroad?
600,000 people, about 25% British.
If the collapse of such a company really requires Government intervention then ATOL protection is clearly inadequate and should be increased going forward.
In any case, if the Government does not pay the £200m, and they certainly should not, the £600m to repatriate everybody will be paid by ATOL and various insurers NOT the Government.
So not very scary.
In any case, why should Thomas Cook be protected? If one takes over a company and continues to run it in the same way that it has been run then the same thing will happen. And I can see nothing in their past which would be addressed by increased or changed investment - it will just become a continuing money pit.
For TC to be an ongoing concern then something must change. Being owned and run with other similar businesses may be that difference.
Any additional investment from existing investors, shareholders or banks is simply them throwing possibly good money after bad to try to avoid losing their existing investment.
Any sensible investment will come from someone with a strategic plan. Fosun have such a plan, and they certainly have the money. Though as I understand it they only want the tour company not the airline. One assumes that the airline will be wound up or sold separately. The former being more likely.
There should be no Government money for the company, especially since the company is seeking capital investment, not a loan - i.e. it will become partially state owned with little prospect of any repayment.
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