Tour operator Thomas Cook has ceased all operations with immediate effect.
British tour operator and airline Thomas Cook has announced its collapse Sunday night and all flight and holiday bookings have ceased with immediate effect, leaving more than 600,000 tourists trapped abroad.
What happened?
Probably several factors have influenced the disappearance of the 178-year-old tour operator , from the loss of interest of travelers in flop and fly vacation to enjoy a few more guided by experience , the delay of British travelers in booking their holidays **due to Brexit**, the political unrest in previously popular destinations (such as Turkey ) and the growing competition from online travel agencies and low cost airlines.
Although Thomas Cook had secured a bailout deal from £900 million (1,048 million euros) of the Chinese shareholder Fosun in August , the creditor banks still demanded other £200 million (233 million euros), which called into question the original rescue agreement.
After efforts on Sunday failed to secure the necessary funds, the tour operator announced that it had "ceased operations with immediate effect", going into forced liquidation.
In addition to affecting some 600,000 travelers on vacation, it will affect 22,000 people employed by Thomas Cook around the world.
How does it affect vacationers?
In a nutshell: those with future reservations They must consider their canceled vacation and those who are currently on vacation must be prepared to face delays in returning home while they plan alternative solutions for return flights.
The Civil Aviation Authority of the United Kingdom is putting repatriation measures in place to ensure that travelers who have booked a return flight within the next two weeks return to the UK before Sunday 6th October.
A dedicated fleet of aircraft is being acquired around the world to help in this effort, with the goal of bringing travelers home. as close as possible to the day they were scheduled to return originally.
A small number of travelers could book in alternative commercial flights.
The CAA will also handle the unforeseen accommodation expenses , as Thomas Cook package tours are covered by **ATOL (Air Travel Organizers License)**, a program that protects package tours sold by tour operators based in the United Kingdom .
like most hotels they are not paid by the tour operator (for vacation package stays) up to 60-90 days after the holidays end , guests may be required to pay more or even check out earlier than expected.
In these cases, the CAA asks tourists to contact them so they can handle the situation.
Regarding refunds, clients protected by ATOL with future package reservations will get full refunds , and those on vacation can make claims for the ATOL-protected portions of their trips and for the out of pocket expenses arisen by the delay of their flights back home.
It is planned that the September 30th start up a returns management service, which will be processed in term of 60 days . Those that aren't covered by ATOL -- just as flight or hotel reservations aren't -- probably won't be included in the CAA bailout.
_ Syndicated content from Condé Nast Traveler Middle East _*