Hundreds of thousands stranded as British travel firm Thomas Cook collapses
The world’s oldest travel firm Thomas Cook (TCG.L) collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history.
British Prime Minister Boris Johnson pledged to get stranded British travelers home and revealed that the government had rejected a request from Thomas Cook for a bailout of about 150 million pounds ($187.1 million) because doing so would have set up a “moral hazard”.
