Home News PSD questions European Commission over Thomas Cook bankruptcy

PSD questions European Commission over Thomas Cook bankruptcy

Published on 25/09/2019

The Social Democratic Party (PSD) MEP, Claudia Monteiro de Aguiar, who is part of the Parliamentary Committee on Transport and Tourism, asked the European Commission on Tuesday about the recent bankruptcy of holiday giant Thomas Cook.

In a letter to the Commission, signed by Cláudia Monteiro de Aguiar and endorsed by other members of the PSD, she questioned the measures that could be taken at European level to reduce impacts on destinations and safeguard passengers’ rights in the event of the bankruptcy of similar companies in the future.

Cláudia Monteiro de Aguiar revealed “I wanted first of all to say a word of solidarity and express my concern about the families, passengers and hundreds of officials affected by this insolvency. From an economic point of view the most affected destinations in Portugal with the insolvency of Thomas Cook will be the regions of Madeira and the Algarve. This situation joins a set of similar ones, such as the bankruptcies of Monarch, Air Berlin, Alitalia and Aigle Azur. This is a very serious and worrying situation, with a major economic impact on both regions.”

As the UK market is the main tourist-issuing market, with a 19.6 per cent share in overnight stays and 16.9 per cent in revenues, there will certainly be negative consequences for Portuguese companies claims the PSD official.

She also asks what action the European Union can take to strengthen consumer protection and what it intends to do to protect these destinations from the bankruptcy of other holiday companies in the future.

The 178-year-old Thomas Cook travel company integrates airlines, hotels and resorts, operating to various destinations around the world.

In 2018, it became the second largest tour operator in total UK sales, with a 17 per cent share.

In June, July and August of this year, the operator transported 25,000 people to Portugal.