Travel agent and airline Thomas Cook has ceased trading but what does that mean for TUI holidaymakers?
Holidaymakers have had their world turned upside down this week thanks to the collapse of Thomas Cook.
The collapse of the travel agent and airline has left around 150,000 British holidaymakers, 600,000 in total, stranded abroad and looking for means of getting home.
However, the collapse of Thomas Cook has holidaymakers worried about the prospects of other companies in the industry. One such brand being TUI who have close ties to Thomas Cook.
Naturally, customers are worried if their TUI holidays are going to be affected by the collapse of Thomas Cook.
What's happened to Thomas Cook?
After several months and years of financial turmoil, Thomas Cook entered administration at 2am on the morning of September 23rd after a last-minute buyout of the company fell through.
The news means the over 600,000 passengers, including 150,000 Brits have been left stranded abroad.
Are TUI holidays affected by the collapse?
While TUI and Thomas Cook are not part of the same business, a number of TUI holiday packages are known to use Thomas Cook flights.
As a result, these flights are now unlikely to go ahead leaving passengers stranded at home or overseas.
For official guidance from TUI check out the link in the tweet below.
However, it has been reported that planes from other airlines including EasyJet and Virgin Atlantic are being used by the CAA (Civil Aviation Authority) to repatriate stranded holidaymakers.
We're sorry to hear that Thomas Cook have ceased trading. Our latest customer updates can be found here: https://t.co/BhAyjcbP4X— TUI UK (@TUIUK) September 23, 2019
The history of Thomas Cook
The travel agent and airline is the oldest of its kind anywhere in the world.
The company was founded by a man called, you guessed it, Thomas Cook in 1841.
While the company ended up delivering holidays across much of Europe and indeed the world, the very first excursion offered by Thomas Cook was a train journey from Leicester to Loughborough, a journey of just 11 miles, when he arranged for a group of Leicester temperance campaigners to travel to a teetotal rally in the neighbouring town.
Over the next 178 years, the Thomas Cook business grew into the multinational corporation it was until today with bases across much of Europe and even China.
The collapse of Thomas Cook is a dark day for the industry and shows how fragile the market is if, in just a few years, Thomas Cook can go under in such a fashion.
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