

Thomas Cook travel company ceases trading

The company was unable to secure the extra STG200 million ($A368 million) needed to keep the business afloat following a full day of crucial talks with the major shareholder and creditors in the UK on Sunday.
Richard Moriarty, the chief executive of the UK Civil Aviation Authority (CAA), said the government had asked his organisation to launch "the UK's largest ever peacetime repatriation".
"Thomas Cook Group, including the UK tour operator and airline, has ceased trading with immediate effect," the CAA said in a statement.
Shapps the government and UK CAA was working round the clock to help people.
Unions representing Thomas Cook staff, of which there are 9,000 across the group in the UK, had previously urged the government to intervene financially.
A million customers will also lose their future bookings, although with most package holidays and some flights-only trips being protected by insurance, customers who have not yet left home will be given a refund or replacement holiday.
© AAP 2021

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