The compensation for customers of the insolvent tour operator Thomas Cook is costing the state significantly less than expected.
By the end of June 2021, only 130,5 million euros had been transferred to the victims of the bankruptcy, a spokesman for the Federal Ministry of Justice said on Sunday. With 95.600 cases, 91 percent of the registrations have now been completed. The federal government had originally assumed at least 225 million euros.
The background to this is the bankruptcy of Thomas Cook, the second largest travel company after Tui, in September 2019. Hundreds of thousands of customers were affected. At that time, the insurance only reimbursed a fraction of the costs, which is why the state finally stepped in voluntarily. According to the spokesman, many customers did not get their money back through the portal, which is responsible for paying out government funds, but through other agencies, such as credit card providers. That reports N-TV.
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