Bankrupt! Thomas Cook goes bust stranding 600K travelers round the global world
Thomas Cook Group, among the world’s oldest travel agents, has entered compulsory liquidation ‘effective immediatelly’. With all tours and flights cancelled, the collapse will affect thousands travelers round the global world.
It is estimated that at the very least 600,000 people around the world will undoubtedly be affected all, forcing governments to coordinate with insurance firms along with other airlines to greatly help their citizens return home.
The UK’s civil aviation watchdog has pledged to greatly help some 150,000 Brits abroad currently, however the fate of the rest of the customers remains unclear. Foreign Secretary Dominic Raab reassured British travelers that &ldquo meanwhile;in the worst-case scenario, the contingency planning would be to avoid people being stranded there.”
“I’d like to apologize to your an incredible number of customers, and a large number of employees, partners and suppliers who’ve supported us for quite some time,” Early Monday morning leader Peter Fankhauser said in a statement released.
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Overburdened by way of a crippling $2.1 billion debt, among the oldest and largest in the global world entered compulsory liquidation after last-ditch efforts to negotiate restructuring failed.
The collapsed travel giant includes a history dating to 1841 back. It had 22 nearly, each year 000 employees serving 19 million customers, running hotels, cruises and flights across 16 countries.