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Thomas Cook fails to secure rescue funding
(MENAFN) The British Civil Aviation Authority (CAA) said on Sunday that, British travel giant Thomas Cook failed after failing to secure rescue funding.
The 178-year-old package holiday operator had spent Sunday trying to increase a gigantic contingency fund of USD 250 million ordered by its lending banks, but to no avail.
The CAA said in a statement that, "All Thomas Cook bookings, including flights and holidays, have now been cancelled," also announced that the travel firm has "ceased trading with immediate effect."
The British government started a repatriation program intended to bring the company's 150,000 British customers home.
The 178-year-old package holiday operator had spent Sunday trying to increase a gigantic contingency fund of USD 250 million ordered by its lending banks, but to no avail.
The CAA said in a statement that, "All Thomas Cook bookings, including flights and holidays, have now been cancelled," also announced that the travel firm has "ceased trading with immediate effect."
The British government started a repatriation program intended to bring the company's 150,000 British customers home.
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