Thomas Cook Travel Group goes under

The morning of 23 September, Thomas Cook Travel Group ceased business. The iconic 178 year-old British travel company found itself without sufficient operating funds and unable to raise the necessary funds to continue business.

There are currently 150,0000 Thomas Cook travelers in limbo as they await the sorting out of their travel arrangements. Those who are abroad at this moment are protected by the UK’s ATOL program (a government program which guarantees UK group travel programs).

UK Civil Aviation Authority has launched a program to bring all Thomas Cook customers home. There is a two week window of opportunity - Monday 23 September to Sunday 6 October. The UK’s CAA provides this guidance:

• Thomas Cook has ceased trading so all Thomas Cook flights are now cancelled
• Customers in the UK yet to travel must not go to the airport
• UK Civil Aviation Authority to launch biggest ever peacetime repatriation
• Customers current overseas should check  thomascook.caa.co.uk  for advice and only go to the airport once they have an alternative flight confirmed
• 24-hour helpline: 0300 303 2800 from the UK and Ireland and +44 1753 330 330 from overseas

Thomas Cook is not the first travel company to go under in 2019. We saw WOW Airlines go under in early 2019 and Jet Airways as well. Thomas Cook was looking for hundreds of million in investment from a Chinese conglomerate, but at the 11th hour the entity required an additional $200 million be acquired from alternate funding sources. Thomas Cook was unable to accomplish this and shuttered the morning of 23 September.