The world’s oldest travel company, UK based Thomas Cook, collapsed Sunday night, stranding hundreds of thousands of travelers.
Chief executive Peter Fankhauser apologized via video to all Thomas Cook customers in a video posted by BBC.
A statement on the company website reads:
“Thomas Cook has confirmed that all the UK companies in its group have ceased trading, including Thomas Cook Airlines.
As a result, we are sorry to inform you that all holidays and flights provided by these companies have been cancelled and are no longer operating. All Thomas Cook’s retail shops have also closed.”
According to CNN, the company said it had no choice but to take steps to enter into compulsory liquidation with immediate effect” after talks on a financial rescue failed. All Thomas Cook bookings have been canceled, the UK Civil Aviation Authority tweeted.
The company says they are currently working to repatriate travellers, which they call a “hugely complex” issue and are informing travellers booked with Thomas Cook to “not go to the UK airport as your flight will not be operating.”
There were reports that the British government was flying home up to 150,000 of its citizens. Wire services said the collapse of the 178-year-old company would put 22,000 people out of jobs around the world.
Officials for Condor Airlines, which flies to Europe from Canada and is a subsidiary of Thomas Cook, are being quoted as saying the company is still in operation and that flights will continue, at least for now. In an Agence France Presse story, Condor officials say they are, however, applying for a bridge loan from the German government.
Thomas Cook collapsed after failing to secure rescue funding, and travel bookings for its more than 600,000 global vacationers were canceled early Monday. Since May 2018, shares have fallen by more than 96% amid Brexit uncertainty and intense competition in the tourism sector.
– with files from Associated Press, CNN and BBC
Comments & Discussion
New Tool Tracks Travelers’ Perceptions of Safety Throughout Reopening Phase
MMGY Global has launched a brand new Travel Safety Barometer tool to help the travel and tourism industry monitor American travelers’ perceptions of safety as society gradually reopens in the wake of COVID-19.
Measured on a scale from 0 (extremely unsafe) to 100 (extremely safe) and based on a monthly survey of 1,200 American travelers, Travel Safety Barometer metrics are published for a series of categories, including domestic and international travel, transportation, lodging, cruising, dining and entertainment.
Currently, MMGY Global’s data suggests that domestic leisure travel, which scores just 34, will bounce back before international (22) or even business travel (29).
The recent Travel Intentions Pulse Survey (TIPS) conducted by MMGY Travel Intelligence found that two-thirds of Americans (68 percent) feel safest when traveling by personal vehicle, so it’s little surprise that the Driving Safety Barometer is highest at 72, more than double that of taking a flight (30). Transportation overall scores a 56.
Lodging is much lower at 35, while dining and entertainment are just slightly behind at 33.
With cruise lines temporarily suspending operations and the Centers for Disease Control and Prevention (CDC) issuing a no-sail order through late-July, MMGY Global’s Cruise Safety Barometer scores the lowest of any category at 18.
“Travelers’ perceptions of safety are shaped by everything from the latest news headlines and personal experiences to social media. The Travel Safety Barometer will highlight how consumer perceptions of safety evolve as states, countries and travel-related businesses cautiously begin to reopen, allowing the industry to adjust their operational and marketing strategies accordingly to meet consumer needs,” said Chris Davidson, executive vice president of insights and strategy, MMGY Travel Intelligence, in a statement accompanying Thursday’s announcement.
“There is much work to be done by the industry to put in place measures to protect the public’s health and well-being,” added Davidson. “Once this is accomplished, the next challenge becomes how will destinations, hotels, airlines, cruises and other travel businesses provide peace of mind to travelers who perceive them to be unsafe.”
Visit MMGYIntel.com to download the full report.
Comments & Discussion
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