The Mediterranean's leading tourist hotspots were bracing Tuesday for a "tsunami" of losses, which could amount to hundreds of millions of euros, following the devastating collapse of British tour operator Thomas Cook.
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Thomas Cook logos are pictured on the tailfins of the company's passenger aircraft parked on tarmac at Manchester Airport in Manchester, northern England on September 23, 2019, after the company collapsed into bankruptcy. British travel firm Thomas Cook collapsed into bankruptcy on Monday, leaving some 600,000 holidaymakers stranded and sparking the UK's biggest repatriation since World War II. The 178-year-old operator, which had struggled against fierce online competition for some time and which had blamed Brexit uncertainty for a recent drop in bookings, was desperately seeking £200 million ($250 million, 227 million euros) from private investors to avert collapse. Oli SCARFF / AFP
2019-09-25 17:42:29
The Mediterranean's leading tourist hotspots were bracing Tuesday for a "tsunami" of losses, which could amount to hundreds of millions of euros, following the devastating collapse of British tour operator Thomas Cook.
Beyond the urgent need to repatriate hundreds of thousands of tourists, industry professionals were agonising over the huge sum in unpaid bills.
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