Thomas Cook, the world’s oldest travel firm, collapses: Why and what happens now?
), the world’s oldest travel firm, 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 travelers a year in 16 countries, generating revenue in 2018 of 9.6 billion pounds . It currently has 600,000 people abroad, including more than 150,000 British citizens.
A fleet of aircraft will be used to repatriate British citizens. In a small number of destinations, alternative commercial flights will be used. For those customers not flying from Britain, alternative arrangements will have to be found. In Germany, a popular customer market for Thomas Cook, insurance companies will coordinate the response.“Customers currently overseas should not travel to the airport until their flight back to the UK has been confirmed on the dedicated website,” the CAA said.
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