Ryanair boss slams UK aviation regulator after Thomas Cook collapse

Ryanair boss Michael O’Leary slammed Britain’s aviation regulator on Tuesday, saying its soft licensing rules contributed to the chaos around Thomas Cook’s bankruptcy. O’Leary, whose low-fare model has squeezed less competitive rivals, said the tour operator model was “dead” and Thomas Cook’s collapse last week was no surprise. He said that some responsibility lay with the Civil Aviation Authority (CAA) for granting Thomas Cook a license to operate without demanding more proof that they would survive. “How you can license Thomas Cook in April as fit to fly for another 12 months and then it goes bust in September. (It) is something the CAA needs to address,” O’Leary said. “The CAA should be much more aggressive in requiring the shareholders of those companies to put up much more cash to get through the year, rather than allowing them to continually fail.” Thomas Cook’s UK airline immediately folded when the company went into administration, although its German Condor airline is still flying and has been offered a bridging loan by the German government. Thomas Cook’s Scandinavian airline is also still flying. O’Leary speculated that Germany’s Lufthansa might ultimately buy Condor, whose CEO on Tuesday said that there would eventually be a new owner of the airline, according to Die Zeit.<br/>