British tourism giant Thomas Cook’s bankruptcy affected the world

British tourism giant Thomas Cook’s bankruptcy affected the world Following the announcement of the bankruptcy of the British giant Thomas Cook, the German subsidiary Thomas Cook GmbH also declared insolvency. An operation intending to bring home thousands of tourists was launched.

Thomas Cook, the 178 years old world’s largest travel company went bust. With the bankruptcy of the tour operator, 22,000 peo ple risk losing their jobs, including 9,000 in the UK. Around 600,000 Thomas Cook customers, 150,000 of whom are British, have been left stranded after the giant company announced that it had ceased trading. Following the official announcement of the bankruptcy by the British company, which had financial problems, one of the biggest peace time repatriation was launched to bring home thousands of British citizens stranded in many countries, including Turkey. The operation called “Operation Matterhorn” aims to bring back more than 150,000 British holidaymakers. Following the bankruptcy, the British govern ment ordered an investigation into the role of Thomas Cook Group management in the col lapse of the famous tour operator.British media, reported that Thomas Cook bosses have been paid and received £20m in bonuses in the past five years.

A Bankruptcy also reported in Thomas Cook’s German subsidiary After the announcement of the bankruptcy of the British tour operator Thomas Cook, Thom as Cook GmbH, a subsidiary in Germany, also filed for bankruptcy. Stefanie Berk, Chairman of Thomas Cook GmbH, said in a statement that they were forced to take the legal step , since no short-term solution could be reached in the negotiations. In a statement by Thomas Cook GmbH, Neckermann, Öger Tur, Air Marin and Bucher Reisen announced that they are in talks with the German Ministry of Foreign Affairs and travel insurance companies to repatriate the 140,000 holidaymakers.

20 thousand British returned Following the announcement of the bank ruptcy of British tour operator Thomas Cook, the repatriation operation that was launched successfully continues. Its company located in the city Antalya in Turkey announced that 20 thousand British total 40 thousand tourists are back to the UK. The other 20 thousand tourists will return to their countries after the end of their holidays. With the bankruptcy of Thomas Cook, a significant gap has emerged in the tourism sector. Travel and tourism agencies in the countries where the company goes have begun planning for upcoming months.