Thomas Cook Goes Bankrupt Leaving 600,000 Passengers Stranded

Following a meeting in London yesterday, British travel firm and charter airline operator, Thomas Cook, has gone bankrupt.

Last-ditch meeting

Yesterday, Thomas Cook met with key players in an attempt to avert a collapse. The British travel firm needed to secure £200m of extra funds if it was to prevent bankruptcy. The last-ditch meeting took place at a law firm in the City and was attended by Thomas Cook’s creditors as well as its largest shareholder, Chinese conglomerate Fosun.

Bankruptcy Declared:

As of around 02:15 am London Time Thomas Cook has officially declared bankruptcy. As such, the airline has stopped operating flights. Additionally, ticket sales have ceased. Meanwhile, Condor, a subsidiary of Thomas Cook, says that flights are operating as normal as of around 10 PM UTC.