British tour company Thomas Cook collapses after failing to secure emergency funding, leaving tens of thousands of vacationers stranded abroad.
British tour company Thomas Cook collapsed early Monday after failing to secure emergency funding, leaving tens of thousands of vacationers stranded abroad.
The company's chief executive, Peter Fankhauser, said in a statement read outside the company's offices Monday morning that he deeply regrets the shutdown. Describing the repatriation plan, British Transport Secretary Grant Shapps said dozens of charter planes, from as far afield as Malaysia, had been hired to fly customers home free of charge. He said hundreds of people were staffing call centers and airport operations centers.
"It's the employees of Thomas Cook and all those due to go on holiday I feel for," she said."We were the lucky ones, I suppose." "We need to look at ways in which tour operators one way or another can protect themselves from such bankruptcies in future," Johnson said."One is driven to reflect on whether the directors of these companies are properly incentivized to sort such matters out."
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