Thomas Cook Airline Condor Says To Keep Flying, Seeks Government Loan

Tuesday, 24 Sep, 2019

The UK's Civil Aviation Authority (CAA) said today the tour operator has "ceased trading with immediate effect", with all bookings and flights cancelled.

The British government launched a repatriation program aimed at bringing the company's 150,000 British customers home.

Thomas Cook needed another GBP 200 million on top of a GBP 900 million package it had already agreed, to see it through the winter months when it receives less cash and must pay hotels for summer services.

The collapse of the British travel group Thomas Cook has delivered a massive blow to the Spanish tourism industry.

British travel agency Thomas Cook ceased all its activities due to money problems, leaving hundreds of thousands of travelers stranded worldwide.

Customers were told not to travel to airports until they have been told via a special website - thomascook.caa.co.uk - that they were due on a return flight that was being organized by the government.

She tweeted: 'Lost our holiday with Thomas Cook.

"Hi Annie, I understand your father might be unsettled by all the news surrounding Thomas Cook and our business recently but our flight operations continue to operate as normal", the company said in response to one anxious customer.

Webjet said it had expected to earn between $150 million and $200 million in FY20 total transactional value from Thomas Cook, which owed Webjet about $43.7 million when it collapsed.

The Transport Salaried Staffs Association, which represents workers at the company, said the Government should be ready to assist with "real financial support".

"But this is a partner hotel for Thomas Cook, so they've probably been formed they'll be paid by ATOL".

A Government spokesman said: "We recognise it's a worrying time for holidaymakers and employees".

"It's certainly a relief for the hedge funds that Thomas Cook has filed and they haven't had to push the company into administration", said Marc Pierron, a senior credit analyst at Spread Research in Lyon. The tourists, a lot of them Britons, were vacationing on the islands of Zakynthos, Kos, Corfu, Skiathos and Crete. The Britain government now has to take on its largest repatriation operation, named "Operation Matterhorn", to bring travellers back home.

The liquidation marks the end of one of Britain's oldest companies that started life in 1841 running local rail excursions before it survived two world wars to pioneer package holidays and mass tourism.

Everton are also liaising with Thomas Cook and say their main priority is assisting supporters who have made arrangements for Saturday's match against Manchester City.

Thomas Cook chief executive Peter Fankhauser called it a "deeply sad day". He said he would also refuse to pay if the hotel asked him.

Thomas Cook declared bankruptcy Monday after failing to secure a last-ditch rescue deal worth $250 million from private investors to avert collapse.

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.