Thomas Cook executives have been paid more than £20 million over the last five years, despite long term fears that the operator faced collapse.

Peter Fankhauser, the Swiss chief executive, has taken home £8.3 million since he took the helm in 2014, including a £2.9m bonus in 2015.

Chief financial officers Michael Healy and Bill Scott, who started at the beginning of last, have together been paid around £7 million since 2014.

More than £4 million was paid in this time to the non-executive directors, including Belgian chairman Frank Meysman, who has taken home £1.6m.

While the figures will likely anger staff who now face losing their jobs and the thousands of passengers forced to abandon their holidays, insiders insist that Mr Fankhauser had performed well in very difficult circumstances.