The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksThomas Cook Share News (TCG)

  • There is currently no data for TCG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Thomas Cook's collapse strands about 50,000 in Greece, official says

Mon, 23rd Sep 2019 09:14

(Updates with financial hit on hotels)

ATHENS, Sept 23 (Reuters) - 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.

The tourists, mainly British, were vacationing on the
islands of Zakynthos, Kos, Corfu, Skiathos and Crete, the
official said.

"The top priority now is to get them back home," the
official said, declining to be named.

Thomas Cook, one of Britain's oldest companies, ran hotels,
resorts and airlines for 19 million people a year in 16
countries.

The head of Greece's hotel federation said Thomas Cook's
financial collapse would be a significant blow for hoteliers,
since many vacation packages were not prepaid.

"The situation is quite difficult. It does not affect just
British tourists but other nationalities as well," Grigoris
Tassios told state TV ERT.

He said many hotels were expected to make losses on payments
affecting vacation packages for the last two months, meaning
"many millions of euros."

"Up to October 15 there are high occupancies, so we will
suffer losses from this segment, too," Tassios said.

He said hotel companies would turn to the courts to try and
recover money owed by Thomas Cook.

The company's collapse could be a blow to tourism in its
biggest destinations, including Greece, leaving fuel suppliers
out of pocket and forcing hundreds of travel agents to shut down
across British high streets

But the Greek tourism confederation SETE said the industry
has the depth and quality to overcome the hit. It called on the
government to come up with specific measures to help companies
absorb the problems that will arise.

Greece has been experiencing an upsurge in tourism in the
last years with a record number of 33 million visitors last
year. Tourism accounts for about a quarter of economic output.
(Reporting by Angeliki Koutantou and George Georgiopoulos,
editing by Larry King)

More News
23 Sep 2019 06:52

UPDATE 1-UK PM Johnson questions whether Thomas Cook bosses "properly incentivised"

(Fixes typo in quote in paragraph 7)NEW YORK, Sept 23 (Reuters) - British Prime Minister Boris Johnson on Monday questioned whether the directors of companies such as collapsed travel company Thomas Cook were properly incentivised to avoid bankrup...

Read more
23 Sep 2019 06:00

UK PM Johnson questions whether Thomas Cook bosses "properly incentivised"

NEW YORK, Sept 23 (Reuters) - British Prime Minister Boris Johnson on Monday questioned whether the directors of companies such as collapsed travel company Thomas Cook were properly incentivised to avoid bankruptcy.Thomas Cook, the world's oldest ...

Read more
23 Sep 2019 02:34

TEXT-Thomas Cook CEO on liquidation: "I apologise"

LONDON, Sept 23 (Reuters) - Peter Fankhauser, the chief executive of Thomas Cook, apologised on Monday for the liquidation of the world's oldest travel company.Following are his comments in a statement:“We have worked exhaustively in the past few d...

Read more
23 Sep 2019 02:17

Britain's Thomas Cook enters compulsory liquidation

LONDON, Sept 23 (Reuters) - Britain's Thomas Cook said on Monday it had entered compulsory liquidation.The company said it made an application to enter liquidation and that an order had been granted to appoint an official receiver to liquidate the...

Read more
23 Sep 2019 02:14

UPDATE 2-British travel firm Thomas Cook collapses, stranding hundreds of thousands

* Thomas Cook enters compulsory liquidation* Hundreds of thousands stranded* UK government to fly home UK travellers* CEO: I apologise (Adds background, reaction)By Kate HoltonLONDON, Sept 23 (Reuters) - Thomas Cook, the world's oldest travel firm,...

Read more
23 Sep 2019 02:14

UPDATE 1-British travel firm Thomas Cook collapses, stranding hundreds of thousands

(Adds quote, details)LONDON, Sept 23 (Reuters) - 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 ...

Read more
23 Sep 2019 02:04

British travel firm Thomas Cook collapses

LONDON, Sept 23 (Reuters) - 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.The firm runs...

Read more
22 Sep 2019 19:53

UPDATE 1-Thomas Cook customers say hotel in Tunisia stopped them leaving

(Adds Thomas Cook tweet)TUNIS, Sept 22 (Reuters) - British tourists in Tunisia said their hotel stopped them leaving for several hours on Saturday night over concerns about payment by their holiday operator Thomas Cook, though the Tunisian governm...

Read more
22 Sep 2019 15:45

Thomas Cook customers say Tunisia hotel stopped them leaving

TUNIS, Sept 22 (Reuters) - British tourists in Tunisia said their hotel stopped them leaving for several hours on Saturday night over concerns about payment by their holiday operator Thomas Cook, though the Tunisian government said the incident w...

Read more
22 Sep 2019 13:51

UPDATE 4-Travel group Thomas Cook battles for survival ahead of Monday deadline

* Bosses meeting creditors, lenders to agree its future* Board meeting being held on Sunday evening* Company could go into administration early Monday (Adds details)By Kate HoltonLONDON, Sept 22 (Reuters) - The British government has plans in place...

Read more
22 Sep 2019 13:51

UPDATE 4-Travel group Thomas Cook battles for survival ahead of Monday deadline

* Bosses meeting creditors, lenders to agree its future* Board meeting being held on Sunday evening* Company could go into administration early Monday (Adds details)By Kate HoltonLONDON, Sept 22 (Reuters) - The British government has plans in place...

Read more
22 Sep 2019 13:51

UPDATE 3-Travel group Thomas Cook battles for survival ahead of Monday deadline

* Bosses meeting creditors, lenders to agree its future* Company could go into administration early Monday (Adds airline details)By Kate HoltonLONDON, Sept 22 (Reuters) - The British government has plans in place to bring home stranded holidaymaker...

Read more
22 Sep 2019 13:51

UPDATE 2-Travel group Thomas Cook battles for survival ahead of Monday deadline

* Bosses meeting creditors, lenders to agree its future* Company could go into administration early Monday (Adds timing details, talks progress)By Kate HoltonLONDON, Sept 22 (Reuters) - The British government has plans in place to bring home strand...

Read more
22 Sep 2019 13:51

UPDATE 1-Travel group Thomas Cook battles for survival with final creditor meeting

* Bosses meeting creditors, lenders to agree its future* Company could go into administration early Monday (Adds Condor statement, Raab details)By Kate HoltonLONDON, Sept 22 (Reuters) - The British government has plans in place to bring home strand...

Read more
22 Sep 2019 10:37

Travel group Thomas Cook battles for survival with final creditor meeting

* Bosses meeting creditors, lenders to agree its future* Company could go into administration early MondayBy Kate HoltonLONDON, Sept 22 (Reuters) - Bosses at Britain's Thomas Cook were meeting lenders and creditors on Sunday to decide whether the w...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.