Monday, 23 September 2019

British travel giant Thomas Cook goes bankrupt

More signs of financial 
crisis?




Global chaos as Thomas Cook collapses, enters compulsory liquidation


Goldman Sachs Has Just Issued An Ominous Warning About Stock Market Chaos In October

British travel giant Thomas Cook goes bankrupt, leaving 600,000 tourists in limbo


RT,
23 September, 2019



One of the world’s oldest travel firms, Thomas Cook Group, has entered compulsory liquidation effective immediately. With all flights and tours cancelled, the collapse will affect hundreds of thousands travelers around the world.

It is estimated that at least 600,000 people all across the globe will be affected, forcing governments to coordinate with insurance companies and other airlines to help their citizens return home.

All Thomas Cook bookings, including flights and holidays, have now been cancelled.

The UK’s civil aviation watchdog has pledged to help 150,000 Brits currently abroad, but the fate of the remaining customers remains unclear. Foreign Secretary Dominic Raab reassured British travelers that “in the worst-case scenario, the contingency planning is there to avoid people being stranded.”

Overburdened by a crippling $2.1 billion debt, one of the oldest and largest travel companies in the world entered compulsory liquidation after last-ditch efforts to negotiate restructuring failed.



The company has a history dating back to 1841. It had nearly 22,000 employees serving 19 million customers per year, running hotels, flights and cruises across 16 countries



1 comment:

  1. According to news reports , British travel group Thomas Cook on Monday ( 23 September 2019 ) declared bankruptcy after failing to reach a last -ditch rescue deal. The 178-year old operator had been desperately seeking 200 million pounds ( USD 250 million ) from private investors to save it from collapse. In this context , it is apt to refer readers to this Vedic astrology writer’s predictive alert through article - “ World trends from April to August 2019” - brought to public domain widely in March and subsequently on 5 April 2019. The predictive alert had said that during a period of four and a half months from mid- April to August 2019 , more care and appropriate strategy was called for on the part of UK also in relation to the following :-
    “ 1. Economic and financial aspects may reflect major worrisome concerns;
    2. AVIATION SECTOR , BOTH MILITARY AND CIVIL , LOOKED TO BE WORRISOME.” A review of these predictive alerts carried out by this writer sometime in May 2019 , had suggested that the need for more care and appropriate strategy could reach out to as far as mid- October , while the period from about 7 August to 9 October 2019 would be particular. And within that , the period from 20 September ( 28- 29 September ) to 9 October , 2019 looked to be more particular. It seems the predictive alert has been meaningful.
    Note :- This writer’s yet another predictive work most relevant to the US in particular and world in general in 2019 and 2020 can be visited at wisdom-magazine.com/Article.aspx/5060/.


    ReplyDelete