LONDON (Reuters) - Thomas Cook’s ( TCG.L ) collapse boosted shares in TUI ( TUIGn.DE ) and budget airlines easyJet ( EZJ.L ) and Ryanair ( RYA.I ) on Monday as investors pinned hopes on the tour operator’s closure cutting capacity in the saturated European holiday market. The world’s oldest travel firm went out of business on Monday, stranding some
LONDON (Reuters) - The world’s oldest travel firm Thomas Cook ( TCG.L ) collapsed on Monday, stranding more than half a million holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history. The liquidation marks the end of a British company that started in 1841 running local rail excursions before pioneering
ISTANBUL (Reuters) - The Turkish finance and tourism ministries are working on a loan support package for local companies affected by the collapse of travel firm Thomas Cook ( TCG.L ), the Tourism Ministry said on Monday. It said on Twitter that 21,033 Thomas Cook customers were currently on holiday in Turkey, adding the package will be put into effect
MILAN (Reuters) - Vivendi ( VIV.PA ) has decided not to exercise withdrawal rights over its Mediaset holding ( MS.MI ) as a deadline to liquidate the stake in the Italian broadcaster expired at the weekend, two sources close to the matter said on Monday. The French media group had until midnight on Saturday to sell its 29% stake back to Mediaset, following
(Reuters) - Aircraft leasing companies are launching moves to recover dozens of Airbus passenger planes after the collapse of British travel group Thomas Cook ( TCG.L ), market sources said. The overall group operates a fleet of 85 Airbus planes and 31 Boeing jets, or a total of 116 aircraft based across Europe, according to data from UK-based aviation
BRIGHTON, England (Reuters) - Thomas Cook bosses should have to pay back any bonuses they have received, Britain’s opposition Labour Party finance spokesman John McDonnell said on Monday following the travel firm’s collapse. McDonnell, asked if executives should have to repay bonuses, said: “Too right.” “I think they need to really examine their own
THE UK Civil Aviation Authority (CAA) has launched Britain’s largest peacetime repatriation to bring home stranded Thomas Cook passengers. There are 600,000 Thomas Cook travellers who have been left stuck at 51 destinations in 17 countries – but how will they return home to the UK? The world’s oldest travel firm Thomas Cook has collapsed, stranding
ATHENS (Reuters) - About 50,000 tourists are stranded in Greece, mainly on islands, as a result of British travel firm Thomas Cook’s collapse, a Greek tourism ministry official told Reuters on Monday. The tourists, mainly British, were vacationing in the islands of Zakynthos, Kos, Corfu, Skiathos and Crete, the official said. “The top priority now
SYDNEY (Reuters) - Most Asian share markets slipped on Monday as investors waited for more clarity on the Sino-U.S. trade talks after recent negotiations, while oil gained more than 1% as Middle East tensions remained elevated. Analysts said investor sentiment was fragile with civil unrest in Hong Kong, tensions in the Middle East and worries over
LONDON (Reuters) - Shares in European airlines and travel operator TUI ( TUIGn.DE ) are expected to rise on Monday after the collapse of Thomas Cook ( TCG.L ), which will cut some overcapacity that has hurt profits and weighed on holiday prices in recent years, traders said. Rival TUI could increase as much as 4%, two dealers said. “Thomas Cook’s collapse
THOMAS Cook has ceased trading with immediate effect after collapsing overnight – here’s what happens next for holidaymakers stranded abroad and those who have trips planned. The world’s oldest travel firm, which had been operating for 178 years, was unable to secure a rescue deal after failing to pay the £200million bill it owed to creditors . PA:Press
BERLIN (Reuters) - Thomas Cook’s ( TCG.L ) German holiday airline Condor has asked the German government for a bridging loan, the company said on Monday, adding that it would continue its flight operation despite its parent company’s insolvency. “Condor ... is continuing operations,” the German airline said in a statement.
BRIGHTON, England (Reuters) - The British government should have stepped in with a temporary rescue package for collapsed travel firm Thomas Cook, the opposition Labour Party’s finance spokesman John McDonnell said on Monday. “I’m disappointed ... I just think the government should have been willing to just do more: intervene, stabilize the situation
KUALA LUMPUR (Reuters) - Indonesian Lion Group’s Malaysian subsidiary Malindo Air said on Monday that two former employees of its e-commerce contractor were responsible for its passenger data breach. Malindo Air made the breach public last week after Moscow-based cybersecurity firm Kaspersky Lab said in a report that the details of around 30 million
(Reuters) - Package holiday provider On The Beach ( OTB.L ) said on Monday it would book a one-time charge for the year as it makes alternate arrangements for passengers affected by the collapse of travel firm Thomas Cook ( TCG.L ). On The Beach, which did not specify the amount of the charge, had already warned on profit in August as it was hit by
SINGAPORE (Reuters) - Scores of airlines wrote jointly to the Hong Kong government earlier this month to seek airport fee waivers as they struggle to deal with the financial fallout from anti-government protests that have led to a sharp drop in traveler demand. The Board of Airline Representatives (BAR) of Hong Kong, which represents more than 70 airlines
LONDON (Reuters) - 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
SINGAPORE (Reuters) - Oil prices rose more than 1% on Monday on doubts over how fast Saudi Arabia can bring back its full crude output after an attack earlier this month on its largest processing facility and as tensions in the Middle East remained at high levels. Brent crude futures LCOc1 increased to as much as $65.50 a barrel. The front-month contract
NEW YORK/HOUSTON (Reuters) - Decades ago, a distiller in Scotland discovered the marketing power of “single malt” whisky, untouched by blending - a technique now being embraced by sellers of Texas crude oil. The United States is selling more oil overseas than ever, and refiners in Europe and Asia are scrutinizing the quality of that oil after some
NEW YORK (Reuters) - British Prime Minister Boris Johnson on Monday questioned whether the directors of companies such as collapsed travel company Thomas Cook were properly incentivized to avoid bankruptcy. Thomas Cook ( TCG.L ), the world’s oldest travel firm, collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and