Tour company Thomas Cook collapses, leaves 1,50,000 vacationers stranded

British tour company Thomas Cook collapsed on Monday after failing to secure emergency funding, leaving tens of thousands of vacationers stranded abroad.

The British government said the return of the 178-year-old firm’s 1,50,000 British customers now in vacation spots across the globe would be the largest repatriation in its peacetime history. The process began on Monday and officials warned that delays are inevitable.

The Civil Aviation Authority (CAA) said Thomas Cook has ceased trading, its four airlines will be grounded, and its 21,000 employees in 16 countries, including 9,000 in the UK, will lose their jobs. The company, several months ago, had blamed a slowdown in bookings because of Brexit uncertainty for contributing to its crushing debt burden.