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Statement on Bankruptcy of Thomas Cook

September 25, 2019 Headline News No Comments Email Email

IATA is following the Thomas Cook bankruptcy with concern. Concern for people and businesses who will be made redundant or who will be out of pocket because of the collapse, and concern for the travelers who are worried about their flights or who have dream holidays cancelled. For those passengers not able to take advantage of the UK CAA’s repatriation program or covered by other holiday insurance schemes, IATA has requested its members enact their voluntary rescue fares operation to bring people home.

Thomas Cook Airlines was not a member of IATA and did not participate in the IATA Billing and Settlement Plan (BSP). The airline has been suspended from the Cargo Accounts Settlement System (CASS), however it was not an active participant at the time of its suspension. With regard to the network of Thomas Cook travel agencies, IATA is following the procedures as stated in IATA’s Resolutions. As a consequence, the issuance of tickets has been restricted for Thomas Cook agencies impacted by the Compulsory Liquidation. Thomas Cook’s subsidiary airline, Condor, is a member of IATA. It continues to operate and is participating in the IATA BSP. IATA continues to monitor the situation.

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