Thomas Cook - The world's largest travel company abruptly closed
Thomas Cook, known as the largest travel company in the world, was abruptly closed on Sunday. The British company, which is more than 150 years old, does not have enough money to make the bold decision.
Mumbai, September 23: Thomas Cook, the world's largest travel company, was closed on Sunday. The decision was taken as the 178-year-old British company did not have enough money.Thomaskook, an old UK-based company that provides travel services, finally went bankrupt on Monday with a debt burden.
Earlier, Thomas Cook, the company, was seeking additional funds from the banks but did not get approval. There was no option but to close the company, said Thomas Cook in the letter. The hiring of 22,000 people has resulted in the closure of the company. It has 9,000 employees in the UK.The Thomas Cook Company had sought additional funds from banks to avoid financial problems. However, he did not get approval from the banks. As a result, the company has taken a bold decision to avoid direct removal."We had no choice but to close the company," said a letter drawn by Thomas Cook. With the closure of the company, the jobs of 3,000 people will be lost. Of the 8,000 employees, 3,000 are from the UK. All of this will have an impact on the company's customers, suppliers and partners.
There will be a huge shortage of tourists visiting Goa
The Travel and Tourism Association of Goa in India reported that the bankruptcy of Thomas Cook could lead to a huge shortage of tourists from Goa to Britain.Savio Messih, president of the association, said, "During the last tourist season, 30,000 tourists from the UK came to Goa. Most of them reached Goa only through the booking of Thomas Cook. The company operated seven days a week, with each aircraft carrying 300 passengers. '
Apologies for the company shutdown
Thomas Cook's chief executive Peter Fankhauser has apologized for the decision.
All of this will have an impact on the company's customers, suppliers and partners. Thomas Cook's chief executive Peter Fankhauser has apologized for this. All bookings of Thomas Cook Company have been canceled.
Efforts will be made by the UK's Civil Aviation Authority to bring back tourists who have traveled with Thomas Cook. The tourists will be brought back from September 23 to October 6. The closure of Thomas Cook, one of Britain's oldest companies, has ended. The company operates hotels, resorts and airlines for over one million people a year.
The 178-year-old UK-based company was under debt burden for the last few years. The company blamed the ongoing conflict regarding the UK's separation from the European Union. Her bookings were starting to fall and that is why she also failed to raise £ 200 million from private investors.
The company's 2007 merger deal was fatal for her, after which she continued to struggle through financial crisis and finally declared herself bankrupt on Monday. After this, around six lakh tourists of the company were stuck around the world and its 22 thousand employees lost their livelihood.
A rescue mission for tourists
The government and the insurance companies will have to set up a big rescue mission for tourists as the company is closed. All these 6 lakh tourists are stuck.