On Monday, the British travel group Thomas Cook declared bankruptcy after last-minute negotiations aimed at saving the 178-year-old holiday firm failed.
The UK Civil Aviation Authority (CAA) said the tour operator has “ceased trading with immediate effect”.
“Despite considerable efforts, those discussions have not resulted in agreement between the company´s stakeholders and proposed new money providers,” Thomas Cook said in a statement.
“The company´s board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect.”
The government said it had hired planes to fly home an estimated 150,000 holidaymakers to the UK, in an operation starting on Monday.
“Following the collapse of Thomas Cook and the cancellation of all its flights, Transport Secretary Grant Shapps has announced that the government and UK Civil Aviation Authority has hired dozens of charter planes to fly customers home free of charge,” a separate statement said, describing it as the largest repatriation in peacetime history.
“All customers currently abroad with Thomas Cook who are booked to return to the UK over the next two weeks will be brought home as close as possible to their booked return date.”
Thomas Cook chief executive Peter Fankhauser called it a “deeply sad day”.
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