Thomas Cook 178-year-old travel firm collapses

Thomas Cook 178-year-old travel firm collapses

Thomas Cook, the world’s oldest travel company got placed thousands of jobs around the world at risk. The collapse of the British travel giant has also left thousands of travelers stranded across Europe. The last-ever Thomas Cook flight landed at the Manchester Airport.

The 178-year-old travel company collapsed on September 23, 2019 after last-minute talks with the creditors to bail out the firm from its debt failed.The British Government was forced to hire chartered planes to bring back the travel company’s stranded customers from across the globe, in the largest peacetime repatriation effort in British history.

Thomas Cook - History:

• Thomas Cook is one of the world’s best and oldest travel companies, which was founded in 1841 by cabinet-maker Thomas Cook in Leicestershire, England.
• The Thomas Cook Group included Thomas Cook airlines, which served leisure destinations across the world from its base at Manchester Airport and Gatwick Airport on a scheduled and charter basis.
• The airlines also operated services from eight other bases around the United Kingdom.
• The Thomas Cook UK Plc and all associated UK entities entered into compulsory liquidation on September 23 and are now under the control of the Official Receiver due to failure in repayment of large amounts of debt.
• The travel giant ran hotels, resorts and airlines for 19 million people a year across 16 countries. They left almost 600,000 people stranded abroad, forcing governments to coordinate a huge rescue operation, the largest peacetime rescue effort.