Government figures show the reimbursement of forward bookings under the Atol scheme will cost £420 million, in addition to the expected £100 million-plus repatriation bill, The Times reports.
The Air Travel Trust Fund, which reimburses Atol bookings, contains only around £170 million; with aircraft being brought in from as far afield as Malaysia and the US to repatriate Cook’s clients.
Added to this bill will be other costs such as statutory redundancy payments for Cook’s 9,000 UK staff.
Former Cook directors, including chief executive Peter Fankhauser, are likely to be called before the House of Commons business committee next month to explain how the £3.1 billion collapse occurred.
The inquiry will also examine the role of Cook’s auditors PwC and EY and executive pay.
