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You can find the current article at its original source at https://www.theguardian.com/business/2019/sep/21/thomas-cook-planes-put-on-standby-to-rescue-travellers-as-talks-go-to-wire
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| Thomas Cook: planes put on standby to rescue travellers as talks go to wire | Thomas Cook: planes put on standby to rescue travellers as talks go to wire |
| (31 minutes later) | |
| An emergency fleet of airlines is on standby to rescue 150,000 UK holidaymakers as talks continue between Thomas Cook and the government over a last-minute bailout. | An emergency fleet of airlines is on standby to rescue 150,000 UK holidaymakers as talks continue between Thomas Cook and the government over a last-minute bailout. |
| Sources described the negotiations to save the UK’s oldest travel agent as “complex” and “pressured” as attempts to find £200m in extra funds to prevent its collapse appeared increasingly fruitless. | Sources described the negotiations to save the UK’s oldest travel agent as “complex” and “pressured” as attempts to find £200m in extra funds to prevent its collapse appeared increasingly fruitless. |
| It is believed a number of airlines have been contacted in case they are required to bring home around 150,000 British Thomas Cook customers currently abroad if talks with the government fail to prevent the 178-year-old company falling into administration. | It is believed a number of airlines have been contacted in case they are required to bring home around 150,000 British Thomas Cook customers currently abroad if talks with the government fail to prevent the 178-year-old company falling into administration. |
| On Saturday, the Transport Salaried Staffs Association, which represents workers at the company, pleaded with the government to step in with “real financial support”. The general secretary, Manuel Cortes, called for an urgent meeting with the government’s business secretary, Andrea Leadsom. | On Saturday, the Transport Salaried Staffs Association, which represents workers at the company, pleaded with the government to step in with “real financial support”. The general secretary, Manuel Cortes, called for an urgent meeting with the government’s business secretary, Andrea Leadsom. |
| He said in a letter: “It is incumbent upon the government to act if required and save this iconic cornerstone of the British high street and the thousands of jobs that go with it. | He said in a letter: “It is incumbent upon the government to act if required and save this iconic cornerstone of the British high street and the thousands of jobs that go with it. |
| “Thomas Cook can be a highly successful business and must be given every opportunity to flourish. I urge you to stand ready to assist Thomas Cook with real financial support. | “Thomas Cook can be a highly successful business and must be given every opportunity to flourish. I urge you to stand ready to assist Thomas Cook with real financial support. |
| “The company must be rescued no matter what. No British government in its right mind would countenance the loss of so many jobs and the prospect of just one major travel operator – TUI – controlling the mass market.” | “The company must be rescued no matter what. No British government in its right mind would countenance the loss of so many jobs and the prospect of just one major travel operator – TUI – controlling the mass market.” |
| People on package holidays are Atol-protected, meaning the government would be compelled to launch the biggest peacetime repatriation of British citizens at an estimated cost of £600m to the taxpayer. | |
| When Monarch Airlines collapsed in 2017 the government and the industry regulator the Civil Aviation Authority set up what was in effect the UK’s fifth largest airline from scratch, hiring 60 planes to fly to more than 30 destinations to bring home 100,000 stranded Britons. | When Monarch Airlines collapsed in 2017 the government and the industry regulator the Civil Aviation Authority set up what was in effect the UK’s fifth largest airline from scratch, hiring 60 planes to fly to more than 30 destinations to bring home 100,000 stranded Britons. |
| Holiday nightmare: big debts and bad luck push Thomas Cook to the brink | Holiday nightmare: big debts and bad luck push Thomas Cook to the brink |
| Among the airlines used then included Easyjet, Go2Sky, Qatar Airways and ironically, Thomas Cook. | Among the airlines used then included Easyjet, Go2Sky, Qatar Airways and ironically, Thomas Cook. |
| The company employs more than 21,000 people, including 9,000 in Britain, where it has 544 high-street travel agents. | The company employs more than 21,000 people, including 9,000 in Britain, where it has 544 high-street travel agents. |
| Last night sources with knowledge of the ongoing talks said they were continuing with multiple investors, but would not comment on timings or even speculation that the company could fall into administration as early as Sunday. “They need to keep bashing their heads together. The stark nature of what happens if a deal doesn’t get done is there for all to see,” said the source. | Last night sources with knowledge of the ongoing talks said they were continuing with multiple investors, but would not comment on timings or even speculation that the company could fall into administration as early as Sunday. “They need to keep bashing their heads together. The stark nature of what happens if a deal doesn’t get done is there for all to see,” said the source. |
| They added that the decision last week by lenders including Royal Bank of Scotland to pull out of a proposed Thomas Cook rescue deal was “very last minute” and placed the firm in an extremely fragile position. “It has left them scrabbling around to find that money and it’s not easy to find,” added the source. | They added that the decision last week by lenders including Royal Bank of Scotland to pull out of a proposed Thomas Cook rescue deal was “very last minute” and placed the firm in an extremely fragile position. “It has left them scrabbling around to find that money and it’s not easy to find,” added the source. |
| If the company does collapse an emergency cabinet meeting would be called immediately to put the massive repatriation plan, codenamed Operation Matterhorn, into action. | If the company does collapse an emergency cabinet meeting would be called immediately to put the massive repatriation plan, codenamed Operation Matterhorn, into action. |
| However, the travel expert Simon Calder urged holidaymakers already abroad on Thomas Cook holidays not to panic. Those with Atol-protected package holidays should be able to continue as normal with hotel bills paid and new flights provided by the Civil Aviation Authority (CAA) in the event of the company going into administration. “All you need to do is to wait to be told when your replacement flight will be departing,” he said. | However, the travel expert Simon Calder urged holidaymakers already abroad on Thomas Cook holidays not to panic. Those with Atol-protected package holidays should be able to continue as normal with hotel bills paid and new flights provided by the Civil Aviation Authority (CAA) in the event of the company going into administration. “All you need to do is to wait to be told when your replacement flight will be departing,” he said. |
| Is Thomas Cook about to go bust? Your questions answered | Is Thomas Cook about to go bust? Your questions answered |
| Yet frantic queries to Thomas Cook were being made by customers, some of whom have spent tens of thousands of pounds on holidays and weddings, about whether booked trips would go ahead and concerns that those overseas could be stranded. | |
| The CAA would not comment on the financial situation of individual businesses. | The CAA would not comment on the financial situation of individual businesses. |
| Thomas Cook, one of the world’s largest travel companies, was founded in 1841 to operate temperance day trips, and has annual sales of £9bn. The company has had an eventful history, including being nationalised in 1948 and owning the boisterous Club 18-30 brand, which it recently closed after failing to find a buyer. | Thomas Cook, one of the world’s largest travel companies, was founded in 1841 to operate temperance day trips, and has annual sales of £9bn. The company has had an eventful history, including being nationalised in 1948 and owning the boisterous Club 18-30 brand, which it recently closed after failing to find a buyer. |
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