With the Thomas Cook entering Compulsory Liquidation at 2:00 am this morning, many passengers across the globe are anxiously waiting for flights back to the UK.
Thomas Cook which is the United Kingdom’s Oldest Holiday Company, agreed a £900 Million Deal with Fosun last month however lenders further demanded another £200 Million from the group.
Thomas Cook has been struggling with Massive Debts which also saw the value of the brand decrease from £2.2bn to £180 Million in the space of just a year.
in 2018, Thomas Cook who served over 22 Million Customers in 2018, had over £1.25 Billion of debt.
CEO OF thomas Cook – Peter Fankhauser
“We have worked exhaustively in the past few days to resolve the outstanding issues on an agreement to secure Thomas Cook’s future for its employees, customers and suppliers. Although a deal had been largely agreed, an additional facility requested in the last few days of negotiations presented a challenge that ultimately proved insurmountable.
“It is a matter of profound regret to me and the rest of the board that we were not successful. I would like to apologise to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years. Despite huge uncertainty over recent weeks, our teams continued to put customers first, showing why Thomas Cook is one of the best-loved brands in travel.
“Generations of customers entrusted their family holiday to Thomas Cook because our people kept our customers at the heart of the business and maintained our founder’s spirit of innovation.
“This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world.”
questions being asked across Social Media:
How many people are affected?
The Civil Aviation Authority (CAA) stated that there are over 150,000 British Passengers currently on Thomas Cook Holidays abroad, across the world. 150,000 is twice the number of passengers affected than when Monarch Airlines collapsed in 2017. Alongside that, it is estimated that a million more have lost their bookings.
What is going to happen to the customers currently on holiday with Thomas Cook?
After Thomas Cook entered Compulsory Liquidation, the CAA began working with the UK Government to launch a repatriation program over the next 2 weeks (Between Monday 23rd September 2019 and 6th October 2019) to ensure that every UK Thomas Cook Passenger is returned to the United Kingdom.
In Normal Circumstances, the CAA is only responsible for passengers on holidays or flights that are covered by ATOL however in this rare occasion, the CAA, the Department for Transport (DfT) and the UK Government will ensure that every passenger, covered by ATOL or not, will return home.
The Department for Transport (DfT) said that all passengers with Thomas Cook that are currently on holiday will be returned as close as possible to their original return date, to ensure that their holiday is continued with minor disruption.
Customers currently overseas and outside of the UK should not make arrangements to their Airport until their new flight has been confirmed on the CAA Website.
If you are currently in the UK waiting to go on holiday with Thomas Cook, do not make arrangements to the airport to begin your holiday as all flights are canceled and no outbound flights will be provided by the CAA.
If you need to get in contact regarding your holiday & flights, please content the following numbers:
Overseas: +44 1753 330 330
United Kingdom: 0300 303 2800 (For Free)
What about the staff of Thomas cook group?
Over 9,000 British Jobs alongside 21,000 Staff Globally have lost their jobs as a result of the Liquidation of Thomas Cook Group and are left without work.
Who is paying for the return of Thomas Cook Staff/Passengers?
When Monarch Airlines went bust in 2017, the government paid over 60 Million Pounds in order to return all passengers back to the United Kingdom. We are estimating that it will be much more than that.
What can you do if your holiday is not ATOL protected?
In normal circumstances, you would have to find your own way back to the United Kingdom and you would not be refunded in any way for costs initiated by traveling home.
However, the DfT has announced that all passengers will return home, regardless of Protection and Location, if you are on holiday with Thomas Cook, you will be turned to the united kingdom.
What will happen to the Thomas cook high street stores?
We suspect that all of the Thomas Cook High-Street Stores will be closed with immediate effect due to the Liquidation of the brand however we cannot 100% confirm this. They currently have over 600 High Street Stores with over 21,000 Staff Members.
If you are in need of support or assistance as a result of Thomas Cook, Go to https://thomascook.caa.co.uk/
Ryan Houghton – Selected Marketing