BRITAIN's aviation regulator yesterday apologised to thousands of Thomas Cook customers facing delays to refunds owed to them after the travel firm collapsed.

Paul Smith, director of the Civil Aviation Authority (CAA), said the organisation was "very sorry," adding it was "working tirelessly" to administer the payments.

Speaking on BBC radio, Smith said more than 50,000 people were still owed money, despite the fact that the authority had already refunded £160m.

Thomas Cook folded in September after it failed to get rescue money from its lenders, sparking a mammoth effort by the CAA to repatriate the 150,000 customers who were left stranded abroad.

"We really want to make these payments as quickly as we can because it is money people are entitled to," he said.

(c) 2019 City A.M., source Newspaper