Latest News

  • Home
  • Global
  • 178-year-old tour company Thomas Cook collapses, 1.5 lakh Britishers stranded abroad
178-year-old tour company Thomas Cook collapses, 1.5 lakh Britishers stranded abroad
Friday, September 27, 2019 IST
178-year-old tour company Thomas Cook collapses, 1.5 lakh Britishers stranded abroad

The British government said the return of Thomas Cook's 150,000 British customers now abroad would be the largest repatriation in its peacetime history. The process is set to begin later Monday and officials warned that delays are inevitable.

 
 

HIGHLIGHTS
 
British tour company Thomas Cook collapsed after failing to secure rescue funding
Bookings for 600,000 global vacationers were cancelled
Britain said return of the firm's 150,000 British customers would be the largest repatriation in peacetime history
 
Longtime British tour company Thomas Cook collapsed after failing to secure rescue funding, and travel bookings for its more than 600,000 global vacationers were cancelled early Monday.
 
The British government said the return of the firm's 150,000 British customers now abroad would be the largest repatriation in its peacetime history. The process is set to begin later Monday and officials warned that delays are inevitable.
 
The Civil Aviation Authority said Thomas Cook has ceased trading, its four airlines will be grounded, and its 21,000 employees in 16 countries, including 9,000 in the UK, will lose their jobs. The company several months ago had blamed a slowdown in bookings because of Brexit uncertainty for contributing to its crushing debt burden.
 
The 178-year-old company had said Friday it was seeking 200 million pounds ($250 million) to avoid going bust and was in weekend talks with shareholders and creditors to stave off failure. The prominent firm, whose airliners were a familiar sight in many parts of the world, also operated around 600 UK travel stores.
 
We are sorry to announce that Thomas Cook has ceased trading with immediate effect.
 
This account will not be monitored.
 
The company's chief executive Peter Fankhauser said, "This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world."
 
He said a deal had been "largely agreed" but that "an additional facility" requested in the last few days presented an insurmountable challenge but provided no further details.
 
"I would like to apologize to our millions of customers, and thousands of employees," he said in a statement.
 
Britain's CAA said it had arranged an aircraft fleet for the complex British repatriation effort, which is expected to last two weeks.

 
 
 
 
 

Related Topics

 
 
 

Trending News & Articles

 Article
'Worse than prison': A rare look inside China's detention camps to 'brainwash' Muslims

ALMATY: Hour upon hour, day upon day, Omir Bekali and other detainees in far western China's new indoctrination camps had to disavow the...

Recently posted . 199K views . 1 min read
 

 Article
What The Shape Of Your Belly Button Says About Your Health

If you have payed attention to the belly buttons of people on the beach or the members of your family, you have probably noticed that they have different shapes and...

Recently posted . 8K views . 2 min read
 

 Article
Top 10 Horrifying Acts of Chemical Warfare and Gas Attacks

In this age of terror, there might be nothing more terrifying than the thought of an attack carried out with chemical weapons. We’ve all heard the horrific ...

Recently posted . 3K views . 4 min read
 

 Article
Top 10 Best Gym Equipment Brands in India 2018

Body fitness is one thing that everyone wants to maintain irrespective of age. Going to the gym and doing some great exercise always helps to maintain your body fit...

Recently posted . 3K views . 2 min read
 

 
 

More in Global

 Article
Google SEO 101: Updating Your Google My Business Listing

Google‘s latest ‘Search for Beginners’ video on YouTube is an introduction on how to use Google My Business.

Recently posted. 782 views . 0 min read
 

 Article
5 Upcoming features that will make WhatsApp more exciting

  WhatsApp is going to get better in 2018. Check out these upcoming features of WhatsApp.

Recently posted. 689 views . 0 min read
 

 Article
Facebook is launching a dating feature

SAN JOSE(California): Facebook Inc plans to add a dating service, Chief Executive Mark Zuckerberg said on Tuesday, marking the first time the world...

Recently posted. 795 views . 1 min read
 

 Video
China's new trend: 'pretending to fly'



Recently posted . 764 views
 

 Video
The Best Lao Tzu Quotes



Recently posted . 711 views
 

 Photo
Fantastic HDR Pictures



Recently posted . 1K views
 

 Reviews
Tata Altroz review, test drive



Recently posted . 1K views . 103 min read
 

 Reviews
Best Hot Air Heat Guns In India 2018 – Buyer’s guide



Recently posted . 1K views . 93 min read
 

 Article
Sony HT- ST5000 soundbar launched in India, priced at Rs 1,50,990

Sony on Monday launched its HT- ST5000 premium 7.1.2 channel soundbar in India. The device is priced at Rs 150,990. The soundbar delivers superior audio ...

Recently posted. 952 views . 8 min read
 

 Article
FACEBOOK WILL REPORTEDLY START REMOVING ‘LIKE’ COUNTS FROM NEWS FEED POSTS

Facebook could also join Instagram’s experiment of removing the ‘Like’ counter from its News Feed posts. It was spotted in the Android app initi...

Recently posted. 822 views . 1 min read
 

 
 
 

   Prashnavali

  Thought of the Day

Do You Know Why God Created Gaps between Fingers ? So That Someone , Who is Special To You , Comes And Fills Those Gaps , By Holding Your Hand Forever.
Anonymous

Be the first one to comment on this story

Close
Post Comment
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


ads
Back To Top