Thomas Cook fat-cat bosses took home £20m despite crippling £1.6bn debt pile
TWELVE Thomas Cook bosses took home around £20million despite a debt pile of £1.6billion when the travel firm collapsed.
Today has seen 21,000 members of staff worldwide, including 9,000 people based in the UK, lose their jobs while 150,000 holidaymakers are currently stranded abroad.
Honeymooners, soon-to-be wed couples and customers worrying about running out of medication are just some of the hundreds of thousands of people now stuck finding another way back to the UK.
But reports how Dr Peter Fankhauser, the Swiss chief executive who was in charge from 2014, made £8.3million during his time at the company - which paid out £20million to execs in five years.
This includes a mammoth £2.9million bonus in 2015, while his annual salary crept up from £690,000 in 2014 to £732,100 in the last financial year.
During 2015 to 2016, his salary before any bonuses was £703,800, while it increased to £717,800 in the 2016 to 2017 financial year.
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Business Secretary Andrea Leadsom today said she will ask the Insolvency Service to fast-track its investigation into why Thomas Cook collapsed.
The Department for Transport said: “The investigation will also consider the conduct of the directors.”
Speaking today, Dr Fankhauser said Thomas Cook had "worked exhaustively" to salvage a rescue package.
He said: "I know that this outcome will be devastating to many people and will cause a lot of anxiety, stress and disruption.
"I would like to apologise to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years."
The Sun has contacted Thomas Cook for comment but we were directed to The Insolvency Service.
It told us: "The Official Receiver has a duty to investigate the causes of failure of the company, including the conduct of directors, as part of the liquidation process.
"The Official Receiver has wide-ranging powers to obtain the information he needs to complete these investigations."
The world’s oldest travel firm, which had been operating for 178 years, was unable to secure a rescue deal after failing to pay the £200million bill it owed to creditors.
Thomas Cook customers are advised to contact the CAA via its for more information about what they should do next.
The Sun has covered everything you need to know if you're currently on a Thomas Cook packaged holiday or you've got a trip planned with the now-collapsed travel group.
Meanwhile, the biggest peacetime repatriation since WW2 has begun to get stranded holidaymakers home.
But Thomas Cook passengers have praised "dedicated" staff on their final flight as cabin crew wished the airline good luck.
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