Thomas Cook went bust

Historical background
Thomas Cook (22 November 1808 – 18 July 1892) was an English businessman. He is best known for founding the now liquidated travel agency Thomas Cook & Son.

Thomas Cook Group plc (19 June 2007 - 23 September 2019) was a British global travel group. It was formed on 19 June 2007 by the merger of Thomas Cook AG (itself the successor to Thomas Cook & Son) and MyTravel Group. The group operated in two separate segments: a tour operator and an airline.

Thomas Cook was listed on both the London Stock Exchange and the Frankfurt Stock Exchange. The company ceased trading on 23 September 2019 after being declared financially insolvent.

Package holiday expertise
Package holidays became the in thing in the 1970s and Thomas Cook and Thompson took the lead in the UK. The 1980s saw the the rise f the UK advertising slogan "Don't just book it, Thomas Cook it!".

They bought out Gong Places in 2007.


 *  Their web page stated in 2019: 

"Holidays are a chance to escape the everyday, enjoy new experiences and indulge in relaxation with your family and friends. Trust us to make your holiday truly special.

''As holiday experts with 178 years’ experience, we have the perfect escape for you, no matter what you’re looking for. Whether you’re into adventure or you just like lazing by the pool, you’ll find it all here at great prices.''

''There are no compromises to be made on a Thomas Cook holiday. Choose the holiday type that’s perfect for you; we have All Inclusive holidays, cheap holidays, cruise deals, beach breaks, family holidays and plenty more available to suit all budgets."''

Recent purchases
They bought out Gong Places in 2007 and MyTravel in 2019.

Causes of it's collapse

 * 1) Preditory UK bankss.
 * 2) Bad percaseses in 2010 and a near bankruptcy in 2011.
 * 3) A out-dated business model.
 * 4) Brexit uncertainty.
 * 5) Hevy competition from TUI, Ryanair, Easy Jet and Wizz Air.
 * 6) UK economic decline since the Credit Crunch.
 * 7)  VERY HIGH DEBT SINCE 2011!!! 
 * 8) £2.1bn in det, which they cut to £1.7bn wth days to go.
 * 9) The Chinese firm Bosen put £900m in to the firm with 2 days to remain.
 * 10) The UK government refused to help Thomas Cook, saying the firm was a wast of money.
 * 11) The UK banks wanted to raise there security deposit from £200m to £250m with 1 day to go.
 * 12) The boss gave him self a major pay bonus in 2019.
 * 13) Percasing MyTravel inflicted £1.1bn of it's £1.5bn 2019 accrued debt.

The last flight
The last Thomas Cook flight was early on September 23rd, 2019 (UK time). It was from Orlando to Manchester.

20,000 staff in 16 nations, including 9,000 in the UK lost thire jobs when the firm folded.

Operation Matterhorn
Shortly afterwards a Malaysian Airways jet chartered by the CAA to repatriate stranded tourists in Singapore and Malaysia landed there shortly afterwards.

Atlas Air, Easyjet and Virgin Airways star to repatriate the 155,000 UK nationals from 145 locations in 55 counties.

Foreigners in the UK were left to make thire own way back to thire home nations.

Compensation
ATOL and ABTA would cover return flights, extended hotel stays and other related costs for stranded tourists.

Those who are yet to travel and foreigners stranded in the UK will get nothing as of right, but can try to call on thire travel insurance and bank to intervene, but if they do it will be late and miniscule nue to the mass of claimants involved.

Former destinations

 * 1) Algarve
 * 2) Antalya
 * 3) Antigua
 * 4) Barbados
 * 5) Balearic Islands
 * 6) Benidorm
 * 7) Bodrum
 * 8) Bulgaria
 * 9) California
 * 10) Caribbean
 * 11) Canary Islands
 * 12) Cancun
 * 13) Cape Verde
 * 14) Corfu
 * 15) Costa del Sol
 * 16) Crete
 * 17) Croatia
 * 18) Cuba
 * 19) Cyprus
 * 20) Destinations D>J
 * 21) Dalaman
 * 22) Dominican Republic
 * 23) Dubai
 * 24) Egypt
 * 25) Florida
 * 26) Fuerteventura
 * 27) Gambia
 * 28) Gran Canaria
 * 29) Greece
 * 30) Hurghada
 * 31) Ibiza
 * 32) India
 * 33) Italy
 * 34) Izmir
 * 35) Jamaica
 * 36) Kefalonia
 * Kos
 * 1) Lanzarote
 * 2) Lapland
 * 3) Las Vegas
 * 4) Los Angeles
 * 5) Majorca
 * 6) Maldives
 * 7) Malta
 * 8) Marrakech
 * 9) Mauritius
 * 10) Menorca
 * 11) Mexico
 * 12) Morocco
 * 13) Orlando
 * 14) Portugal
 * 15) Red Sea Riviera
 * 16) Rhodes
 * 17) Santorini
 * 18) Sanya
 * 19) Spain
 * 20) Sri Lanka
 * 21) St Lucia
 * 22) Tenerife
 * 23) Thailand
 * 24) Thassos
 * 25) Tunisia
 * 26) Turkey
 * USA
 * 1) Zante

Also see

 * 23/09/2019 UK alert