Rushed Approach: just a point about terminology... wrt "
The CAA is also very hard-nosed in the financial due diligence it carries out when renewing an airline's AOC and may itself have asked for a previously unforeseen "bond" to be lodged with it before the new AOC can be issued."
An AOC (
Air Operators Certificate) is to do with the aspects of an airline to operate safely.
Whereas the OL (
Operating License) is to do with an airline's financial fitness.
There's no doubt about Thomas Cook's AOC (
i.e. it's safety to operate) but there are certainly some doubts about its OL (
i.e. it's financial fitness to operate).
See also:
https://www.caa.co.uk/Commercial-ind...ting-licences/