Up to 15 companies will go bust this winter, warns TC boss
Thomas Cook chief executive Manny Fontenla-Novoa has predicted that up to 15 more UK travel companies could go bust in the next three months.
Speaking at a media briefing in London, he said companies which do not have back up banking facilities in place will struggle to survive in the current climate.
“If they can survive the next three months they will be okay, but these next three months are crucial,†he said.
He said airlines were among those at risk of failure in the current climate.
“There is no question it is a tough market,” he said. “But we at Thomas Cook are in pretty good shape going forward.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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