Britons who travel with the financially troubled tour operator Thomas Cook need not fear that they will end up in vacation countries should the company fall over unexpectedly. British Foreign Minister Dominic Raab said Sunday that there is an emergency plan ready to get travellers back.
Thomas Cook has not yet succeeded in finding private investors to prevent bankruptcy. The company will talk to lenders and creditors about the future on Sunday. Thomas Cook would also hope for a British government rescue operation. Raab did not comment on any steps that the government might take to assist the world’s oldest tour operator.
His colleague Minister Brandon Lewis (Security) expressed the hope that negotiations on the future of Thomas Cook could be brought to a successful conclusion on Sunday. Lewis also refused to comment further on what steps the government is willing to take.
Thomas Cook said before the weekend that it needs extra financial resources for a rescue plan. It would be a loan of another 200 million pounds (227 million euros), in addition to the 900 million pound rescue plan that was concluded last month. Thomas Cook is burdened by, among other things, a large debt burden. It is also struggling with online competition and geopolitical uncertainty.
Thomas Cook operates various hotels, resorts, airlines and cruise ships. Hundreds of thousands of travellers worldwide are said to be on holiday with the tour operator. If the company collapses, insurers and governments are waiting for a monster job to get home.