Veteran British tour company Thomas Cook on Monday slumps to death after their failure in securing the drowning funding and resulting in the cancellation of more than 600,000 global bookings earlier today.
Tour Company Thomas Cook crumbles, global bookings cancelled
The British government said the return of the firm’ 150,000 British customers who are currently abroad would be the largest returning of someone to their country in today’s peacetime era. The expedition will soon start later today.
The Civil Aviation Authority said the Thomas Cook has stopped all its functioning with all its 4 airlines grounded and its 21,000 employees in 16 countries with 9,000 constituting in the UK all will lose their jobs. The Company not long ago had blamed a few months earlier booking slowdown because of the UK uncertainties over leaving Europe as one of the vital factors to the company mounting debt.
The 178-year-old company has said in a statement on Friday that it was looking around for 200 million pounds ($250 million) as an emergency/rescue funds to avoid getting slumped and was in midweek talks with shareholders and creditors to avert this tragedy. With having 600 UK travels stores, this tour company is one of the prominent firm company in the world and its airlines are one of the familiar sights around the world.