Tour operator Thomas Cook is broke

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The British travel group has ceased operation. All flights were cancelled. Now hundreds of thousands of holidaymakers are threatening to be stranded. Tourists have been reporting of dramatic scenes in Hotels.

The aircraft of the British tour operator, stay on the ground

The oldest tourism group in the world has no money and is forced liquidation. After discussions with banks, creditors, and government representatives in London, the company said that it had to stop the business immediately. We have had no Alternative but with immediate effect of the bankruptcy procedure. Group chief Executive Peter Fankhauser said in a statement from a “deeply sad day”. He apologized “to our millions of customers and Thousands of employees, suppliers and partners”.

Banks are calling Thomas Cook, in addition to an already negotiated a 900 million pound (just under one billion euros) heavy rescue package of another 200 million pounds (226 million euros).

Thomas Cook-holiday makers reports in the short message service Twitter is already dramatic conditions. In Tunisia, travellers were detained in Hotels because the Manager feared to get no more money from the ailing operator. Others complained that they would have had to pay for the property a second Time. The money had been granted to them by the credit card.

The was founded in 1841 and tour operator brands such as Neckermann-Reisen Hotels, vacation resorts, Airlines, and organized a cross-operating rides. Of the 105 flight in the group 58 are witnesses for the German holiday airline Condor is on the way. Worldwide, Thomas Cook has around 21,000 employees in 16 countries, of which about 4500 are employed in Germany with Condor. The operating business is currently running as normal.

Condor applied for credit at Federal government

However, the profitable German holiday airline applied for after the bankruptcy filing, the British group’s parent in the case of the Federal government in Berlin, a bridging loan. The application was currently under examination, informed a Condor spokesman early Monday morning.
 

In the UK, trade unions and the opposition Labour had appealed to party previously called on the government to close the financial gap of £ 200 million. The foreign Minister, Dominic Raab, said, however: “We’re going to engage systematically with the taxpayers’ money, if businesses go under, unless there is a good strategic national interest.” The government, however, is ready to take holidaymakers home.

Codename Matterhorn

According to the BBC, the civil aviation authority CAA has provided numerous aircraft. In order for the “largest civilian return action at all on the course”, to bring to around 150,000 British tourists from different countries home. The removal action contributes to the BBC-the code-named “Matterhorn”. In the night the first machines were already launched to the various destinations, it was more.

Still no response from Berlin

The Federal government has no opinion on whether or also preparations to be made, possibly tens of thousands of holidaymakers to return to Germany. In the Federal Republic of insurers have to be responsible for package tourists, the so-called travel backup certificates, in an emergency. In practice, other airlines will help to bring tourists to Germany.

Thomas Cook was advised by a billion-dollar write-down on a British subsidiary and a slump in the travel business into a Skid. Already in 2012, saved several banks in the group, with the fresh money before the fall. Also Thomas Cook is sitting on a mountain of debt in the billions and groans under the high interest burden. More than the industry leader, TUI, Thomas Cook is also suffering from the continued uncertainty around the Brexit, which dampens the desire to travel to the British.

se/nob (rtr, dpa, twitter)