Thomas Cook liquidation: tour operators, airlines and lessors affected

Thomas Cook Group's entry into liquidation on 23-Sep-2019 is a sad end for the business that started in 1841, invented the package holiday, and became one of the most enduring brands in the travel industry.

The group's UK airline, Thomas Cook Airlines, ceased operations immediately, as did its Scandinavian airline subsidiary (but the Scandinavian airline's website subsequently indicated that flights were to resume on 24-Sep-2019).

However, together with two other non-UK charter focused airlines (Thomas Cook Airlines Balearics and Thomas Cook Aviation), the group's German airline Condor is still operating its own flights (but cannot board passengers that have booked a package holiday through Thomas Cook Group companies). Condor has applied for a bridging loan guaranteed by the German government.

Headlines are plentiful about the need to repatriate 150,000 UK citizens that would otherwise be stranded on holiday in locations across Europe, North Africa and the Americas. However, the impact on the tour operator, airline and lessor industries and on airports will be felt long after that operation - carried out by the UK Civil Aviation Authority - has been completed.

The situation is fluid and will continue to change, but this report gives CAPA's initial analysis of the possible impact of Thomas Cook Group's liquidation.