Thomas Cook collapses

150,000 UK holidaymakers stranded

Thomas Cook has ceased trading after talks failed to produce a funding lifeline for the ailing travel company, placing 9,000 British jobs at risk and triggering a huge repatriation effort to bring home 150,000 UK holidaymakers overseas. The Civil Aviation Authority announced at 2am on Monday morning that the world’s oldest holiday company had gone into administration and that all flights and bookings had been cancelled.

“Thomas Cook Group, including the UK tour operator and airline, has ceased trading with immediate effect,” the aviation regulator said in a statement. “All Thomas Cook bookings, including flights and holidays, have now been cancelled.”

The official administration was timed for the early hours when the largest number of the 94-strong fleet of planes were on the ground

http://www.theguardian.com

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