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Thomas Cook collapses as rescue talks fail

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  • Global
  • 1 month ago
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The tour operator's failure puts 22,000 jobs at risk worldwide, including 9,000 in the UK, one of the world’s oldest tour operators, Thomas Cook has been in the business for 178 years.

The UK Civil Aviation Authority has announced that tour operator, Thomas Cook has "ceased trading with immediate effect.”

It has also triggered the biggest ever peacetime repatriation, aimed at bringing more than 150,000 British holidaymakers home, prompting Chief Executive, Peter Fankhauser to make a statement on the "matter of profound regret."

"Despite huge efforts over a number of months and further intense negotiations in recent days we have not been able to secure a deal to save our business."

"It has been my privilege to lead Thomas Cook. It is deeply distressing to me that it has not been possible to save one of the most-loved brands in travel."

The tour operator's failure puts 22,000 jobs at risk worldwide, including 9,000 in the UK, one of the world’s oldest tour operators, Thomas Cook has been in the business for 178 years.

 

 

 

Source: Smart Trend Team