Thomas Cook was heading into insolvency on Sunday night as the world’s oldest holiday company faced a collapse that will strand 150,000 UK holidaymakers overseas and put 9,000 British jobs at risk.
Flights were pulled from booking websites at around 10pm after all-day talks failed to produce a £200m lifeline to keep the firm afloat.
The government and the aviation regulator have triggered the UK’s largest ever peacetime repatriation – codenamed Operation Matterhorn – to bring holidaymakers home.
It is understood that the official administration will take place at about 3am on Monday, when the largest number of the 94-strong fleet of planes are on the ground. » | Simon Goodley, Kalyeena Makortoff and Caroline Bannock | Sunday, September 22, 2019