Thomas Cook Collapse: UK Government to Repatriate 160,000 Travellers

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Extraordinary news about the 178-year-old British tour operator Thomas Cook entering liquidation today.

The UK government is preparing to launch Operation Matterhorn, led by the Civil Aviation Authority, to repatriate 160,000 stranded Brit travellers at an estimated cost of 100 Million Pounds. It’s the biggest peacetime repatriation operation in British history.

Not only have Thomas Cook ruined a lot of holidays, and left thousands of people unemployed, but they’ve just cost the British taxpayer a huge amount of money. I doubt anyone will be held accountable, but it was nice of them to leave a goodbye Tweet before announcing that their Twitter account will no longer be monitored.

In Australia Webjet has been impacted by the collapse but has managed to claw its way back from early losses this morning to be just 2.3% down at $11.25.

No apparent indication this corporate collapse was coming but it sure is a whopper.


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