Thousands jobless, more stranded as travel firm Thomas Cook collapses

British travel firm Thomas Cook Group has collapsed, leaving at least 21,000 people jobless and over half a million holidaymakers around the globe stranded.

According to Reuters, Thomas Cook – reportedly the world’s oldest travel firm – started in 1841 running local rail excursions before pioneering the package holiday and growing into one of the world’s largest tour operators.

“We have not been able to secure a deal to save our business,” said Thomas Cook Group CEO Peter Fankhauser.

The firm ran hotels, resorts and airlines for 19 million travelers per year in 16 countries, reportedly generating revenue in 2018 of 9.6 billion pounds (Ksh.1.2 trillion).

All Thomas Cook bookings have since been canceled, according to the UK Civil Aviation Authority (CAA).

Thomas Cook Group, including the UK tour operator and airline, has ceased trading with immediate effect.

All #ThomasCook bookings, including flights and holidays, have now been cancelled.

Visit: https://t.co/g4G2b6RlHc pic.twitter.com/BxJMv5Yaw1

— UK Civil Aviation Authority (@UK_CAA) September 23, 2019

CAA has also been asked by the British government to launch a repatriation program over the next two weeks, from Monday to October 6, to bring Thomas Cook customers back to the UK.

“Due to the significant scale of the situation, some disruption is inevitable, but the Civil Aviation Authority will endeavor to get people home as close as possible to their planned dates,” said the authority.

A fleet of aircraft, as reported by Reuters, will be used to repatriate British citizens while, in a small number of destinations, alternative commercial flights will be used.

Below are some reactions following the collapse:

https://twitter.com/elliee_seymour/status/1175994815550504960

https://twitter.com/HairyPotter12/status/1175928986284806145

This is so sad. My girlfriend is asleep expecting to work tomorrow instead we now have to worry about paying the mortgage, a 2 year old nursery fees, Christmas around the corner, food shopping on just my wage now #ThomasCook

— Danny (@Danny_1305) September 23, 2019

https://twitter.com/abilauren_/status/1175994176388943872

Ironic that Thomas Cook has collapsed after RBS demanded they find another £200m to pay back their debts. The same RBS who needed £45bn from the government to continue to exist 10 years ago, and who have also said they’d never pay that back #ThomasCook

— Marc (@marchull86) September 23, 2019

Thomas Cook is a great example of a 'Clean Break'. It has left 160,000 stranded overseas, a million booked holidays just cancelled, holiday prices just shot up, nobody benefited, and everyone else will have to pick up the pieces.

Brexit is on the same, but on a far bigger scale.

— Ian Harris – I support the RNLI (@biscuitsgod) September 23, 2019

For those of you that we’re planning to go to Gambia with Thomas Cook in December. Y’all better strap your boots up tightly and get walking from November. It takes 47 days to walk to Gambia from England. pic.twitter.com/FuzZKGRqlR

— Saúl Álvarez (@sc_est93) September 23, 2019