Travel giant Thomas Cook fails to find private funds to avert collapse | The Malaysian Insight

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Travel giant Thomas Cook fails to find private funds to avert collapse

Passengers waiting in front of a Thomas Cook Airlines counter at Terminal 1 of Frankfurt International Airport in Frankfurt am Main, Germany, in June. Travel company Thomas Cook has failed to find the £200 million from private investors and will collapse unless the government intervenes. – EPA pic, September 21, 2019.

ICONIC British travel firm Thomas Cook has failed to find further private investment to stave off collapse and is now relying on an unlikely government bailout, a source close the matter told AFP today. The operator said yesterday that it needed £200 million – in addition to the £900-million rescue deal secured last month – or else face administration, which could potentially trigger Britain’s largest repatriation since World War II.

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