Thousands of Travelers Left Stranded After Collapse of Thomas Cook Travel Agency
Thousands of Travelers Left Stranded After Collapse of Thomas Cook Travel Agency The United Kingdom’s most famous travel agency, Thomas Cook, recently collapsed after 178 years of service.
More than 150,000 U.K. customers have been left stranded abroad as a result, with all future flights and bookings cancelled.
The agency’s failure is reportedly due to the government’s refusal to bail-out the business, which had more than £1.7 billion in debt.
According to Prime Minister Boris Johnson, intervening to save Thomas Cook would have created a “moral hazard.” Boris Johnson, via Business Insider.
A repatriation effort, codenamed Operation Matterhorn, is currently in effect and will bring an estimated 16,000 people home to the U.K. daily.