Sep 25, 2019

Thomas Cook: Why did prices rise for new flights?

Prices have soared for customers scrambling to rebook flights after the collapse of Thomas Cook. Lots of people who have had to find new flights to replace the ones they had with Thomas Cook have found prices are higher, in some cases three times the original cost. "If you were a holiday company, why wouldn't you want to sell them for more? People are complaining about prices going up, but they are providing alternative flights at short notice." Price gouging is a term, largely used in the US, to describe when a seller raises the prices of goods or services to an unreasonable or unfair level, often as a result of a sudden increase in demand. Some Thomas Cook customers have accused airlines of cashing in on the holiday firm's demise, by pushing prices sky-high.

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