Thomas Cook executives grilled over UK airline sale

Former Thomas Cook Group CE Peter Fankhauser has told a UK cross-party parliamentary select committee that interest in the tour operator's UK carrier waned as the European air transport industry came under financial pressure. Fankhauser faced aggressive questioning from the business, energy and industrial strategy committee Oct 15 after an inquiry into Thomas Cook Group's collapse opened. Challenged by the committee as to why the company did not divest the profitable Thomas Cook Airlines operation sooner, to help relieve its financial burden, Fankhauser said: "In hindsight you're always much wiser. It could have been an opportunity." He explained that the company had spent several years working to reduce the carrier's dependency on the tour operator, by developing its seat-only business. <br/>