British travel firm Thomas Cook collapses, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history by kholtonreuters
) collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history.
The firm ran hotels, resorts and airlines for 19 million people a year in 16 countries. It currently has 600,000 people abroad, forcing governments and insurance companies to coordinate a huge rescue operation. “I would like to apologize to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years,” Fankhauser said in a statement released early on Monday morning.Pictures posted on social media showed Thomas Cook planes being diverted away from the normal airport stands. Some were left deserted once passengers and staff had departed. Employees posted pictures of themselves walking from their last flights.
Customers were told not to travel to airports until they have been told via a special website - thomascook.caa.co.uk - that they were due on a return flight that was being organized by the government. In Germany, a major customer market for Thomas Cook, insurance companies will coordinate the response.The corporate collapse has the potential to spark chaotic scenes around the world, with holidaymakers stuck in hotels that have not been paid in locations as far afield as Goa, Gambia and Greece.
The group had seemed set for a rescue when it agreed the key terms of a 900 million pound recapitalization plan in a deal with its biggest shareholder, China’s Fosun , and the travel firm’s banks in August.
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