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Thomas Cook , the world’s oldest travel firm, collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history.
Thomas Cook’s German holiday airline Condor has asked the German government for a bridging loan, the airline said on Monday, adding it would continue operating despite its parent company’s collapse.
Global shares dipped on Monday as weaker than expected economic surveys added to investor worries over the unresolved U.S.-China trade dispute’s effects on the world economy, while oil gained more than 1% as Middle East tensions remained elevated.
The head of Turkey’s Hoteliers Federation said on Monday the collapse of British tourism agency Thomas Cook means Turkey could see 600,000-700,000 fewer tourists annually.
Thomas Cook said there were around 140,000 people currently traveling with its German subsidiaries, with a further 21,000 booked to depart on Monday and Tuesday.
The world’s oldest travel firm Thomas Cook collapsed on Monday, stranding more than half a million holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history.
Saga Plc said on Monday it was securing alternative flights, where possible, for customers who are due to travel imminently and have been impacted by the collapse of Thomas Cook .
About 50,000 tourists are stranded in Greece, mainly on islands, after British travel firm Thomas Cook collapsed, a Greek tourism ministry official told Reuters on Monday.
Deutsche Bank’s deal to transfer its prime brokerage business to BNP Paribas could see the move of up to 1,000 staff from the German lender to the French bank, a spokeswoman for BNP said on Monday.
Aircraft leasing companies are launching moves to recover dozens of Airbus passenger planes after the collapse of British travel group Thomas Cook , market sources said.
Thomas Cook bosses should have to pay back any bonuses they have received, Britain’s opposition Labour Party finance spokesman John McDonnell said on Monday following the travel firm’s collapse.
About 50,000 tourists are stranded in Greece, mainly on islands, as a result of British travel firm Thomas Cook’s collapse, a Greek tourism ministry official told Reuters on Monday.
Most Asian share markets slipped on Monday as investors waited for more clarity on Sino-U.S. trade talks, while oil gained more than 1% as Middle East tensions remained elevated.
Shares in European airlines and travel operator TUI are expected to rise on Monday after the collapse of Thomas Cook , which will cut some overcapacity that has hurt profits and weighed on holiday prices in recent years, traders said.
Thomas Cook’s German holiday airline Condor has asked the German government for a bridging loan, the company said on Monday, adding that it would continue its flight operation despite its parent company’s insolvency.
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