ABTA Convention tackles the implications of Thomas Cook collapse

Mark Tanzer, ABTA chief executive, told delegates at the association's annual Travel Convention that the collapse of Thomas Cook is a "major event" for the travel industry, affecting not only Thomas Cook employees but also partners and suppliers.

Tanzer said that the collapse has raised questions about why the collapse happened and what it means for the wider industry. He described the bankruptcy as a "failure of corporate finance" with Thomas Cook incurring significant levels of debt, rather than a travel industry failure and was quick to dispel the idea that the package holiday sector is a "dinosaur".

He paid tribute to the CAA for their work in repatriating 150,000 stranded holidaymakers, saying they did "a terrific job".

"ABTA has been working around the clock to support inquiries (and) ABTA members are working hard to support their customers," Tanzer told the conference.

In regard to the future of package travel, Tanzer said it is important to ensure that funds are in place to look after customers but the end of Thomas Cook is "far from signalling the demise of the package holiday". This was reflected in the results of the 2019 ABTA Holiday Habits survey, released this morning, which revealed that 64% of UK holidaymaker choose a readymade package, while 18% have booked a personalised package holiday in the past 12 months. "Best value option for the price" was cited as the main reason for booking a package holiday (52%).

Tanzer told delegates he is "confident other companies will expand to fill the gaps left by Thomas Cook's demise.

Derek Jones addressed the conference on behalf of the ABTA Lifeline charity, which is using the fundraising events at this year's convention to raise money for ABTA members affected by the Thomas Cook bankruptcy. The target is to raise £100,000 and at the time of writing, £42,000 had been pledged.


More News...

UK’s favourite staycation…

UK’s favourite staycations revealed in new research

London, Cornwall and Blackpool are the top three favourite UK staycation destinations, according to a research by Compare The Market.

The Advantage Travel Part…

The Advantage Travel Partnership launches ‘The Flexi Pledge: Book with Confidence’ campaign

The Advantage Travel Partnership has launched the ‘The Flexi Pledge – Book with Confidence’ campaign, to encourage travel operators to offer greater flexibility and a renewed confidence to book a...

The Maldives announces 94…

The Maldives announces 94% of resorts to reopen by October

Following the reopening of Maldivian borders to international visitors on July 15, Maldives Marketing and PR Corporation (MMPRC) has announced that 146 of its 156 resorts in operation will reopen...

Air Transat unveils winte…

Air Transat unveils winter timetable, plans return to year-round UK flights

Air Transat has unveiled its winter 2020/1 timetable with plans to operate from airports across the UK during the season, thus restoring year-round operations.

LATA Expo 2020 to be held…

LATA Expo 2020 to be held virtually in October

The Latin American Travel Association (LATA) has relaunched its flagship event, the LATA Expo 2020 (previously known as Experience Latin America) as a virtual event which will be held from...

Travel blogger sings the …

Travel blogger sings the praises of travel agents

Ana Silva O’Reilly, also known as the travel blogger Mrs O, has launched a new initiative to help the travel industry recover from the impact of the COVID-19 pandemic.

Severin’s The Alpine Retr…

Severin’s The Alpine Retreat, Lech shares winter plans

Severin’s The Alpine Retreat, a luxury boutique ski hotel on the outskirts of Lech, has released its events schedule for winter, including The Lech Food Festival, Disco’ Gondolas, The White...

Teleticket seeks out alte…

Teleticket seeks out alternate flights to European destinations

Flight consolidator, Teleticket has received inquiries from agents whose clients are looking for alternative ways to travel to European destinations as consumer demand increases with a cautious reopening of borders.

Emirates expands its netw…

Emirates expands its network to 70 destinations

Emirates has announced to resume passenger services to Kuwait City (August 5) and Lisbon (August 16). 

Aitken Spence Hotels to r…

Aitken Spence Hotels to reopen four resorts in Maldives by September

Aitken Spence Hotels will reopen four Maldives resorts -Adaaran Select Meedhupparu, Adaaran Prestige Water Villas, Adaaran Club Rannalhi and the all-Inclusive resort of Heritance Aarah - by September 1.

São Lourenço do Barrocal …

São Lourenço do Barrocal reopens in Alentejo with new packages for guests

São Lourenço do Barrocal, a restored 19th century farmstead hotel, winery and spa in Portugal's Alentejo region, has reopened with new packages for guests, as well as private dining experiences...

If Only... and AMResorts …

If Only... and AMResorts launch new offers and incentives

If Only... and AMResorts have launched the ‘Beyond Your Wildest Dreams’ campaign which includes offers and booking incentives for travel agents at two new properties at the Dreams Resorts &...

Prev Next

twn Are you sure that you want to switch to desktop version?