Thomas Cook boss unable to pay back £500,000 bonus as he’s already spent it all on a week in Majorca during school holidays

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The boss of Thomas Cook can’t pay back his £500,000 bonus, as requested by MPs, as he’s used all of it to take his family to a 3-star hotel in Majorca during half-term.

Peter Fankhauser told a cross-party committee of MPs that he worked ‘tirelessly’ for Thomas Cook, but paying for a holiday with his family during peak-time ate up the entirety of last year’s bonus.

Holidays correspondent, Simon Williams, said, “Obviously, Mr Fankhauser is a very wealthy man, but even he can’t afford a simple week away during the school holidays as travel operators ramp up prices to cover the rest of the year when you can get all-inclusive at that 7-star place in Dubai for a fiver.

“He wouldn’t have been able to go, of course, if he didn’t get his staff discount, which took it down to a very reasonable £499,999.99.

“Obviously, that didn’t include any excursions or Cocktails of the Day.

“It is well known that Mr Fankhauser also received £250,000 worth of shares in his bonus, that are now worthless. Unless, of course, he cashed them in during the 6-week holidays, in which case they would have made him close to £100bn.”