Destinations

YOUR INSPIRATION TO EXPLORE THE WORLD

Thomas Cook: The Scoop

thomas cook1

What happened?

On Monday, September 23 2019, the world’s oldest travel tourism company went bankrupt, leaving around 600,000 Thomas Cook customers stranded on vacation (of whom around 150,000 were British). The 178-year-old company was unable to secure the outstanding £200 million that was required to keep the business afloat. Following a weekend of meetings with the company’s largest shareholders and creditors, when this sum was established, the company went under. UK Government officials have voiced concern that this could possibly become “Britain’s biggest peacetime repatriation,” as transporting all the stranded citizens of the country could cost the UK up to £60 million. As many as 9,000 British employees, as well as 21,000 of other members of staff are now facing the possible consequences of losing their jobs after the company declares bankruptcy.

What to know:

Travelers who are currently stranded because all Thomas Cook flights and vacations were cancelled effective immediately, will be transported home through other means. The Civil Aviation Authority (CAA) has now launched an operation (codenamed Operation Matterhorn) to fly back all UK travelers who were stranded abroad as a result of the Thomas Cook collapse. Around forty jumbo jets have been put into practice for transportation, and this operation should be complete before the end of October 6th 2019.

Travelers who have future holidays booked with Thomas Cook should be expecting a full refund, as all Thomas Cook holiday packages are ATOL-protected, which is a requirement of all UK travel companies that sell trips and flights to clients.

About Thomas Cook:

Thomas Cook was founded in Market Harborough in 1841, by businessman Thomas Cook, as a company that organized railway trips for members of the local temperance movement. With time, the company grew to become the world’s largest global travel company with annual sales of £9 billion, 19 million customers per year, 22,000 employees, and operations in 16 countries worldwide.

Previous Post
Ananti Resort, Residences & Beach Club Arrives in Montenegro
Next Post
Villa L’Amandier Hotel Arrives

Powered by Expedia

Previous Post
Ananti Resort, Residences & Beach Club Arrives in Montenegro
Next Post
Villa L’Amandier Hotel Arrives

TRENDING ON GALAVANTE

THE WEEKLY

BE IN THE KNOW.
TRAVEL. FOOD. LIFESTYLE.
ENTERTAINMENT.
DELIVERED TO YOU

Join The List

Book My Trip
The List

Galavante’s Picks for

Related Articles

Recent Articles

New Orleans hotels
Discover

Rohan Vasa, Contributor

3 New Orleans Hotels to Know

We know; you probably went to Mardi Gras in college and many of you are grateful there was no social media back then. Because if there’s any place where what…
Menu
Round trip One-way Multi-city
Travelers
No. of Adults (18 and older)
No. of Children (Age 2 through 17)
No. of Infants (Younger than 2) On lap In seat
Nonstop Refundable

Powered by Expedia

Book My Trip
Close