Thomas Cook Collapse
Dear <<First Name>>!
You have no doubt heard that the Thomas Cook Group, one of the oldest travel firms in the world, has entered compulsory liquidation effective September 23.
This is sad news indeed for the company's staff and customers - it has left those on holidays stranded and those with future bookings worried about their losses.
The UK Civil Aviation Authority and the British government will arrange to bring the estimated 150,000 stranded British travellers home.
Thomas Cook was founded in 1841 by a business man who wanted to organise rail journeys for anti-alcohol campaigners between English cities. In its heyday Thomas Cook ran hotels, resorts, airlines and cruises for 19 million people a year. The company has not operated in Australia since 2000.
Why Thomas Cook went under
A crippling debt of USD 2.1 billion was the issue. Given until 11.59pm last Sunday to secure funds to pay off creditors, Thomas Cook was unable to meet the deadline.
The company has been beset by other financial problems and stopped paying dividends to shareholders in 2011.
There were other factors, such as Brexit which meant many British holidaymakers were delaying their plans; a long hot summer in the UK which made staying home attractive; and the availability of online travel packages.
Protection for travellers
In the UK travellers are protected by ATOL which stands for Air Travel Organiser’s Licence, a scheme designed to protect most air package holidays sold by travel businesses based in the UK. In Australia using a travel agent that is ATAS accredited and taking comprehensive travel insurance are measures of protection.
ATAS-accreditation is held by travel agents who meet strict standards and criteria set by AFTA (Australian Federation of Travel Agents). Many Australian wholesalers are also accredited but many on-line travel sellers are not.
We are your ATAS-accredited Mosman cruise and travel specialist
Always happy to research options for your travel anywhere!
Call 9968 1600 - email - or call in for the latest brochures.
Biba, Martin and Carol
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