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Hundreds of thousands stranded due to British travel firm Thomas Cook collapse

The liquidation marks the end of one of Britain’s oldest companies that started life in 1841
09:55, 23 September 2019

British travel firm Thomas Cook
UNN

British Prime Minister Boris Johnson pledged to get stranded British travelers home and revealed that the government had rejected a request from Thomas Cook for a bailout of about 150 million pounds ($187.1 million) because that would have set up a “moral hazard”. Reuters agency reported this.

“It is a very difficult situation and obviously our thoughts are very much with the customers of Thomas Cook, the holiday makers who may now face difficulties getting home we will do our level best to get them home,” he told reporters on a plane as he headed to the UN General Assembly in New York.

The liquidation marks the end of one of Britain’s oldest companies that started life in 1841 running local rail excursions before it survived two world wars to pioneer package holidays and mass tourism.

Related: Water tourist routes developed in Chornobyl

The firm ran hotels, resorts and airlines for 19 million people a year in 16 countries. It currently has 600,000 people abroad, forcing governments and insurance companies to coordinate a huge rescue operation.

As it was reported earlier, the boat with passengers turned over in the Black Sea close to the village of Dzhubga of the Krasnodar Territory of Russia.

Related: Volume of tourist fee increases by 71,2% in Ukraine in 2019

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