Thomas Cook, the original package holiday company, has collapsed.
Chaotic dealings at the Labour Party conference and the collapse of travel company Thomas Cook dominate Tuesday’s front pages.
Thousands of stranded Thomas Cook passengers will be repatriated on Tuesday as the rescue operation continues into its second day.
The first Thomas Cook passengers returned to Northern Ireland on Monday night after the collapse of the company.
Thomas Cook, the world’s oldest travel agent, is now in the hands of liquidators, who will assess what assets the company has that can be sold off.
Passengers on one of the final Thomas Cook flights collected two carrier bags of cash for the cabin crew, after learning when they landed that staff would not be getting paid.
Boris Johnson has questioned whether directors should pay themselves “large sums of money” as their businesses go “down the tubes” following the demise of Thomas Cook.
One of Britain’s biggest holiday operators and airline, Thomas Cook has “ceased trading with immediate affect”, the U.K. Civil Aviation Authority said on Sept. 22 morning.
Families stranded, honeymoons and vacations canceled, thousands of workers laid off: The sudden collapse of British tour company Thomas Cook and its network of airlines and hotels sowed chaos for … Click to Continue »
The Latest on the collapse of British tour company Thomas Cook (all times local): 6 p.m. Prime Minister Boris Johnson says a "huge effort" is underway to bring home British … Click to Continue »
Thomas Cook, the Victorian entrepreneur who set up the company in 1841, was fundamental in transforming travel into the industry of human happiness
Thomas Cook needs an extra £200m in refinancing
CEOs of collapsed travel firm received more than £35m in 12 years despite financial woes
While thousands of holidaymakers were waiting in overseas airports for the government’s emergency airlift to get them home and Thomas Cook staff were losing their jobs, former bosses of the stricken travel firm came under fire for receiving payouts worth more than £35m in the last 12 years.
Manny Fontenla-Novoa, who led the acquisition spree that saddled the company with more than £1bn of debt, was handed more than £17m in just over four years as boss of Thomas Cook, boosted by bonuses awarded for slashing 2,800 jobs following the merger with MyTravel. He quit in 2011 as the tour operator came close to collapse. Continue reading...
Woeful merger, sky-high debts and internet revolution all left the venerable firm struggling
Why did Thomas Cook fail after 178 years in business? The immediate answer is that it was unable to secure a £200m lifeline from its bankers, including government-owned RBS.
But in truth the tour operator’s woes go back much further – a victim of a disastrous merger in 2007, ballooning debts and the internet revolution in holiday booking. Add in Brexit uncertainty, and it was perhaps only a matter of time before the giant of the industry collapsed. Continue reading...
Offers from Spain and Turkey to save firm reportedly had no support from Westminster
The government has been accused of sealing Thomas Cook’s fate, as claims emerged that the Spanish and Turkish governments had offered to help save the stricken tour operator, only for the deal to disintegrate due to a lack of support in Westminster.
As recriminations flew, government-chartered aircraft began flying 150,000 stranded Thomas Cook customers back to the UK after the 178-year-old tour operator collapsed into liquidation in the early hours of Monday under the weight of its debts. Continue reading...
British travel giant Thomas Cook declared bankruptcy on Monday after failing to reach a last-ditch rescue deal, stranding hundreds of thousands of holidaymakers around the world. British Prime
Thomas Cook, one of the world's oldest and largest travel companies, is holding talks with shareholders in a last-ditch bid to avoid going bankrupt.A collapse could leave around 150,000 travelers from
Thomas Cook, one of the world’s oldest and largest travel companies, is facing a race against time to stay afloat. The debt-laden British-based company has confirmed it is seeking 200 million
Thomas Cook, Europe's London-based travel concern, hung by a thread Sunday as it sought further investment funds while 600,000 holidaymakers worried. If stranded, the British government says it has plans "in place."
"We were promised a surprise on our wedding but this was not the surprise we were expecting," says a would-be groom, also named Thomas Cook, who is stuck in Greece.
Thomas Cook might have survived if not for mismanagement by its executives.
There was a time when Australia's wealthy would call on Thomas Cook to arrange a season in London or on the Continent.
Fosun’s ambition to create one of the world’s largest leisure conglomerates – comprising a marquee hotel brand, an airline, a century-old tour operator, and one of the most iconic shows on earth – fell £200 million (US$249 million) short of saving Thomas Cook Group from liquidation.Thomas Cook, the 178-year-old UK tour operator, was liquidated on Monday after failing to come up with additional money to keep creditors at bay. Its demise left 600,000 holidaying customers in the lurch, forcing the…
The collapse of iconic British travel operator Thomas Cook has thrown the travel plans of thousands of customers into chaos.Minutes after the tour operator filed for liquidation early Monday, holiday makers took to Twitter and social media platforms to vent their anger and seek help over nixed holidays and flights.Layton Roche, of Bolton, UK, tweeted he and his bride-to-be were packed and ready to get on a plane to the Greek island of Kos to celebrate their wedding. He implored Thomas Cook to…
Thomas Cook’s 178-year existence was hanging by a thread on Sunday after the iconic British travel firm struggled to find further private investment and is now relying on an unlikely government bailout. An emergency fleet of airlines was on standby to rescue up to 150,000 UK holidaymakers.The operator said on Friday that it needed £200 million (US$250 million) – in addition to the £900-million rescue deal secured last month – or else face administration, which could leave thousands of…
The government says the official probe into Thomas Cook's failure must look at bosses' actions.
Tuesday's front pages are dominated by the continued fall out of the collapse of travel firm Thomas Cook.
Thomas Cook employees such as Ella Waine, pictured in her uniform, react to the company's collapse.
Passengers at airports in England share their stories after the collapse of travel firm Thomas Cook.
More than 150,000 Thomas Cook holidaymakers face an uncertain journey home after the travel firm collapsed in the early hours of Monday morning.
Foreign Secretary Dominic Raab says that people will be taken care of if Thomas Cook collapses.
The last scheduled Thomas Cook flight to land shortly after company's collapse saw flight crew in tears, according to passengers on board, as travelers around the world scrambled to reschedule hotels and flights.
The collapse of British tour operator Thomas Cook mean its airplanes are now grounded. What happens next to them depends on the complicated world of aircraft leasing.
Hundreds of thousands of travelers are facing a nightmare scenario this week, with the collapse of tour operator Thomas Cook leaving them stranded abroad.
Newlyweds have been forced to cancel their weddings and honeymoons while thousands of people are facing disruption to their vacations following the collapse of UK travel company Thomas Cook.
The tourism industry in Goa, which is facing headwinds from decline in foreign visitors, is set to face a direct loss of around Rs 50 crore with the collapse of UK travel giant Thomas Cook, tour operators told TOI.
World's oldest travel company, Thomas Cook declared bankruptcy on Monday. Hurt by high debt levels (1.7 billion pounds), online rivals and geopolitical uncertainty, Thomas Cook needed 200 million pounds on top of a 900 million pound package it had already agreed, to see it through the winter months when it receives less cash and must pay hotels for summer services.
Veteran U.K. tour operator Thomas Cook collapses after failing to secure rescue funding, and travel bookings for its more than 600,000 global vacationers are cancelled. Analysts say its failure comes from an inability to compete with services like Airbnb and online travel companies.