The largest international tourist holding Thomas Cook, founded in the UK in 1841, announced compulsory liquidation and termination of activities after the failed negotiations with creditors. The debts of Thomas Cook about 2 billion pounds. Currently 600 thousand customers are on vacation around the world, including 160 thousand citizens of the UK.
Thomas Cook has stopped all flights, canceled tours and reservations. The collapse followed several months of negotiations with investors and creditors. Already agreed with the Chinese investment company Fosun plan of salvation, involves the exchange of debts for shares of the company, failed because of the need for additional funds to the tour operator, reports “Interfax”.
Executive Director of Thomas Cook Peter Funkhauser apologized to customers, employees, suppliers and partners. “This is a very sad day for the company, which pioneered package holidays and made travel possible for millions of people around the world,” he said.
The UK government will pay for the return of tourists, whose vacation ended from 23 September to 6 October. For them ordered dozens of Charter flights: in the next two weeks will be made more than a thousand flights. As noted by the British and American media, it is the largest operation to return British citizens in the homeland since the Second world war. It will cost the Kingdom around 600 million pounds (750 million dollars). After October 6, travelers will have to pay for their own return home.
The British government also promises to support the employees for whom the elimination of Thomas Cook and, accordingly, the loss of jobs came as a surprise. The work will lose 22 thousand people in different countries in the UK – 9 thousand.
Over the weekend the hotel Les Orangers in the resort of Hammamet in Tunisia with the help of the local police actually took hostage tourists Thomas Cook, fearing that the company will not pay for their stay. According to hotel guests, security guards locked the doors, and the staff is demanded from the rest of the payment, although they have already paid for my stay Thomas Cook.
British tour operator offered cheap tickets for a family vacation at more than 60 destinations. Last year the company’s customers are over 19 million people, reports CNN, citing data of the holding company. Thomas Cook owns numerous brands in the field of tour operator and hotel business (in total it has about 200 hotels in 40 thousand rooms) and a private airline, which operates a fleet of over 30 aircraft.
In Russia Thomas Cook since 2011, owns the tour operator “Intourist”, but the Russian customers will not be affected. “We are operationally independent from Thomas Cook, we have private Contracting, its host. Tourists flying on vacation and come back, they will not affect” – said to “Interfax-Tourism” CEO of “Intourist” Sergey Tolchin. According to him, the upcoming plans for the winter season remain in force, but the travel industry in General what happened, “will change”.
In particular, projected collapse in the tourism market of Greece, where now, according to the Ministry of tourism of the country, there are 50 thousand customers Thomas Cook. Turkey, according to the local Federation of hoteliers, will lose about 700 thousand tourists per year, reports Reuters. A subsidiary of Thomas Cook airline in Germany, Condor, sought a government-guaranteed loan, not to be ruined.
The collapse of Thomas Cook has already begun to have a ripple negative effect on the tourism industry worldwide. Monday morning on the Hong Kong trading session shares of Chinese company Fosun Tourism fell more than 5%, writes portal “Turprom”. The shares of the Thomas Cook in may 2018 have fallen by more than 96% on the background of uncertainty and Brexit intense competition in the tourism sector.
Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my firstname.lastname@example.org 1-800-268-7128