Daijiworld Media Network - London
London, Sep 23: The very well-known British travel group Thomas Cook collapsed after failing to secure rescue funding, causing the UK’s biggest repatriation since World War II to cancel travel bookings for its more than 600,000 global passengers early Monday, September 23.
As per sources, the travel operator had been desperately seeking £200 million ($250 million, 227 million euros) from private investors to save it from collapse.
In its statement Thomas Cook said "Despite considerable efforts, those discussions have not resulted in agreement between the company's stakeholders and proposed new money providers, the company's board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect."
According to the British government, the return of Thomas Cook’s 150,000 British customers abroad would be the largest repatriation in its history. However, officials confirmed the repatriation process is set to begin later Monday.
Thomas Cook chief executive Peter Fankhauser called it a ‘deeply sad day’. "It is a matter of profound regret to me and the rest of the board that we were not successful," he said as per sources.
Explaining the repatriation plan, British Transport secretary Grant Shapps said dozens of charter planes had been hired to fly customers home free of charge. He also informed that hundreds of people were staffing call centers and airport operations centers.
Comment on this article
Rita, Germany
Mon, Sep 23 2019It is not only Thomas Cook but partner Condor too.At present they are trying to bring back tourists who are stranded in tourist places.
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Mohan Prabhu, Mangalore (Kankanady)/Ottawa, Canada
Mon, Sep 23 2019Gone the way of all "flesh". RIP until a savior comes to raise you up!.
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Roshan, Mangalore
Mon, Sep 23 2019And they say only Indian companies are affected ..now u all know entire globe facing economy crisis..
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G R PRABHUJI, Mangalore
Mon, Sep 23 2019I think it is better to take over Thomous Cook by Ambani Bros .
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SHASHI, mlore
Mon, Sep 23 2019why not........................?
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Santan Mascarenhas, Kinnigoli/Mumbai
Mon, Sep 23 2019Very sad news. I think Thomas Cook and Cox & Kings are the 2 best travel agents in the whole world. Any way, every good thing has to come to an end one day.
I had travelled with Thomas Cook on a 9 country 15 days Europe tour in 2016. Though their charges are highest among all, they are the best.
I received a mail from Madhavan Menon, CEO of Thomas Cook India that the Indian company is not affected since 75% of the ownership is held by a famous Canadian Co. Everything said and done, benefit of the worldwide experience of more than 150 year old company will be no more. I personally feel, this company will bounce back, when the financial hurdles are sorted out.
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Anand, Mangalore
Mon, Sep 23 2019They can get loan from Modi from trillion to million......
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Ganesh, MANGALORE
Mon, Sep 23 2019It's very easy to make silly comments.
To your comment which has no relevance to the news report, I can say that you should try arranging the loan from your friends at Tihar who have plenty of money.
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Deshbhakht, Mangalore
Mon, Sep 23 2019Why not Chinmayanand ?
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SJM, Mangalore
Mon, Sep 23 2019Not a big news in-front of King fisher, Jet airways, Auto Industry and upcoming etc.....
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Dr.S.Kamath, Mumbai
Mon, Sep 23 2019This is the way Business goes worldwide
If loss and then Funding not got announce loudly and close down
No suicide No Running away etc
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Jossey Saldanha, Atlanta
Mon, Sep 23 2019Vijay Mallya & Nirav Modi are currently in United Kingdom ...
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Dinesh Kumar, Katipalla/Mangaluru
Mon, Sep 23 2019Thanks for the information, tell us something which we don't know
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Jossey Saldanha, Atlanta
Mon, Sep 23 2019Come & meet the Queen of England ...
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ARMANDO, urwa
Mon, Sep 23 2019Information you dont know is that they went holiday through Thomas cook.
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Jossey Saldanha, Atlanta
Mon, Sep 23 2019Vijay Mallya & Nirav Modi are Smart Cooks ...
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Cynthia, Kirem
Mon, Sep 23 2019😆😆😆😆😆......ah.. Ah... Is it smart cook or smart crooks!!!???
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Satish, udupi
Mon, Sep 23 2019Dear,
Please don't blame on Modiji, he has nothing to do with it.
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