Thomas Cook Group
Thomas Cook Group plc was one of the world’s leading leisure travel groups, headquartered in London, UK. The group operated several airline subsidiaries serving destinations across Europe, North and South America, the Caribbean, Africa and Asia. Thomas Cook subsidiaries included the following:
- Condor Flugdienst;
- Thomas Cook Airlines;
- Thomas Cook Airlines Scandinavia, and;
- Thomas Cook Airlines Balearics
On 20-Sep-2019, Thomas Cook Group announced discussions with a range of key stakeholders and lending institutions to secure final terms on the recapitalisation and reorganisation of the group failed to reach an agreement. As a result, Thomas Cook's board concluded it has no choice but to enter compulsory liquidation. Thomas Cook confirmed that all the UK companies in its group have ceased trading, including Thomas Cook Airlines.
Condor stated its flight operations will continue despite Thomas Cook Group plc filed for insolvency. The German airline has applied for a state-guaranteed bridging loan, which is currently under review by the Federal Government. Thomas Cook Airlines Balearics will also continue to operate services under the German carrier. Ving Group, a subsidiary of Thomas Cook, separated from the bankrupt travel group and confirmed Thomas Cook Scandinavia resumed service operations on 24-Sep-2019.
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