A sign is seen outside a Thomas Cook shop in central London, November 26, 2014. REUTERS/Suzanne Plunkett A sign is seen outside a Thomas Cook shop in central London, November 26, 2014. REUTERS/Suzanne Plunkett

Thomas Cook’s bankruptcy related to England branch only: Source

Mon, Sep. 23, 2019
CAIRO – 23 September 2019: Thomas Cook’s bankruptcy announcement is related to its headquarters in England only, according to an official source at Thomas Cook Egypt.

The source clarified to Egypt Today that the company’s branches in Germany, Belgium and Switzerland, are operating normally to date, and there is no news about their fate.
"We are waiting for the next hours,” he stated.

He explained that Thomas Cook tourists in Egypt will be evacuated until the financial matters are resolved, according to the company's announced plan. While no date has yet been set to return them, the matter is considered in full within the company's plan, he noted.

On Monday, Chief Executive Officer of Thomas Cook Peter Fankhauser apologized for the liquidation of the world’s oldest travel company.

“We have worked exhaustively in the past few days to resolve the outstanding issues on an agreement to secure Thomas Cook’s future for its employees, customers and suppliers. Although a deal had been largely agreed, an additional facility requested in the last few days of negotiations presented a challenge that ultimately proved insurmountable,” he said in a statement.

“It is a matter of profound regret to me and the rest of the board that we were not successful. I would like to apologize to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years. Despite huge uncertainty over recent weeks, our teams continued to put customers first, showing why Thomas Cook is one of the best-loved brands in travel,” the statement added.

Thomas Cook, the world's oldest travel company, employs around 22,000 people, including 9,000 in the United Kingdom, whose jobs are threatened immediately after the company ceases to operate.
 
There are no comments on this article.

Leave a comment