A renowned name amidst travelers was Thomas Cook which brought shockwaves when they went bankrupt on September 23rd. It was a day of frustration for people who had booked with the airlines across the world as they were detained for hours at the airports.
As of Monday, 34 aircraft with the firm were beached in the UK as it went penniless. These flights are “Stored” and left in the aviation terminal. This states that they are shifted until the concerned authorities from the airlines come and release it.
So, the British government has extended its hands to fly the passengers stranded by these flights from the respective airports through the Civil Aviation Authority who has arranged a fleet of planes even till Malaysia in this process.
But there were questions amidst travelers why can’t the other Thomas Cook flights fly them to their destination to which the sources say that the other empty ones do not belong to the firm.
Out of 34 stranded 3 are leased and possessed by private firms. Further “Mark Payne leasing director at aircraft charter Specialist Chapman Freeborn stated that: “Many will be leased from head lessors, who own the aircraft, while Thomas Cook effectively pays a mortgage on them.”
He also added saying that: when proper payments are not made then it goes to the concerned owner or leaser who looks for somebody else to own it. It’s the same as a house mortgage.
Further, Paul Welch chief executive and founder of Million Plus admit that “Most companies will have lots of aircraft leased so those companies will automatically have made arrangements to requisition the aircraft. Those owned by Thomas Cook will be automatically covered by liquidation or bankruptcy procedures.”
Though Thomas Cook would fight for its rights again, there was a picture surfacing that one of their airlines was detained at Manchester as it failed to pay the airport charges.