Holidaymakers held in Tunisia hotel over Thomas Cook crisis

22 Septembre, 2019, 22:35 | Auteur: Auguste Feret
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The company's board will then meet in the early evening to decide the company's fate, with it potentially going into administration in the early hours of Monday.

But sources said Thomas Cook presents an "unprecedented" challenge because it is a larger operator and runs package holidays.

Foreign Secretary Dominic Raab says contingency plans to rescue customers are in place if the firm can not be rescued from collapse.

Thomas Cook is meeting with the firm's biggest shareholder along with creditors at a City law firm on Sunday in a final bid to piece together a rescue deal.

Peter Fankhauser, chief executive of Thomas Cook, said: "After evaluating a broad range of options to reduce our debt and to put our finances onto a more sustainable footing, the Board has chose to move forward with a plan to recapitalise the business, supported by a substantial injection of new money from our long-standing shareholder, Fosun, and our core lending banks".

Guests have said security staff are refusing to let people leave - even those who have flights to catch - unless they pay extra money, despite the fact they've already forked out for their holiday.

Thomas Cook In Last Minute Crisis Talks. The company is scrambling to borrow more money in order to survive.

"And obviously they are concerned, and they come down and ask why and they are just being told to pay". The tour operator recently raised 900 million pounds ($1.12 billion) in new capital, including from its leading Chinese shareholder Fosun. The Government are in talks with the company, with one option now being to organise the UK's biggest peacetime mission to get them all home.

"This has now been resolved and customers flew home as planned". The person familiar with the situation put the cost of that move at around £600 million ($990 million Cdn).

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An official from Germany said, under that country's rules, it would fall to insurance companies to help get customers home.

Thomas Cook customers Maddie Clamp, 26, and her boyfriend, Shaun Holmes, 30, from Derby described how they had been locked within their holiday complex as management, apparently wrong-footed by the news of the travel giant's financial troubles, tried to secure payment from their guests. "The Condor flights are now being operated on a regular basis".

"A Thomas Cook representative is trying to sort things out with the hotel, but they're just not interested", Mr Ryan said.

That is draining the company of the liquidity it needs to keep operating and ramping up the pressure on one of Britain's oldest and much-loved companies.

The British Consulate in Tunisia has reportedly been made aware of the situation at the hotel.

"We've still not heard anything from Thomas Cook". We continue to support our customers in all our resorts.

British foreign minister Raab sought to reassure vacationers that they would not end up stuck overseas.

"The hotel reception told us we need to pay £4,000 to be allowed to leave", he said.

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