We store cookies on your device to make sure we give you the best experience on this website. I'm fine with this - Turn cookies off
Switch to an accessible version of this website which is easier to read. (requires cookies)

Liz Jarvis: Brexit was a contributory factor in Thomas Cook collapse

September 24, 2019 3:32 PM
By Southampton Liberal Democrats

Liz Jarvis for Southampton ItchenLiberal Democrat campaigner Liz Javis has stated that Brexit is a 'contributory factor' in the recent collapes of travel fim Thomas Cook.

In a piece for cityam.com, Liz says:

"I was recently talking to a travel agent who told me that her bookings are considerably down for this time of year. She blamed it solely on Brexit, as her regular customers are jittery not only because of exchange rate changes and rising costs, but also due to genuine fears of being stranded if a travel firm collapses while they're on holiday.

"It's not the first time I've heard this from those working in the travel industry; the fact is that Brexit is having an impact on consumer confidence. Two years ago Monarch collapsed in part because of the weak pound after the Brexit vote, while Flybmi went bust this year, also blaming Brexit.

"It's not difficult to see the correlation between the collapse of Thomas Cook and the geopolitical uncertainty created by Brexit.

"Of course Brexit isn't the main cause of the collapse of Thomas Cook (it had debts of £1.7bn and was failing to respond properly to online competition), but it's impossible to deny that it's a contributory factor, and now another 9,000 people are at risk of losing their jobs."