Sep 23, 2019

Thomas Cook: in defence of the package holiday

The collapse of Thomas Cook, Britain's oldest travel group and one of the biggest names in package holidays, has left tens of thousands of people stranded, thrown thousands out of work and wiped out investors. It does not mean the package holiday is dead. The human cost of the failure of Thomas Cook, which went into compulsory liquidation early on Monday after talks to secure a £1.1bn rescue deal failed, is significant: 150,000 holidaymakers have to be brought back from overseas, 21,000 people have lost their jobs and more could go in the supply chain. The modern Thomas Cook was the model of an integrated holiday company, offering booking, flights and accommodation through its own agencies, airline and hotels. Despite Thomas Cook's collapse, the package holiday remains for many an attractive proposition. The name Thomas Cook may not survive, but the holiday package will live on.

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