The Chinese-owned Thomas Cook brand relaunched Wednesday as an online travel agency following the British group's collapse last year.
"The new 'COVID-ready' travel company will initially sell holidays to destinations on the government's safe travel corridor list," said Thomas Cook, which is owned by Fosun Tourism Group.
"Thomas Cook has a proud heritage and after acquiring the brand last year we wanted to quickly return it to its home in the UK," said Fosun's chairman and chief executive, Jim Qian.
"Supporting the growth of the brand in China and its relaunch in the UK is a big step in our plan to turn Thomas Cook into a global success story and a key milestone in the development of the Fosun Tourism Group's strategy," he said.
Fosun, which also owns France-based resort giant Club Med, acquired the brand and online assets of Thomas Cook in November.
Thomas Cook's demise one year ago sparked 22,000 job losses worldwide and triggered Britain's biggest repatriation since World War II, with the government paying to fly home 140,000 stranded tourists.
The 178-year-old British company had declared bankruptcy after an attempt to secure $250 million from private investors fell through.
Thomas Cook's stores across the UK had struggled against fierce online competition, while the company had blamed Brexit uncertainty for a drop in bookings before its collapse.
Transport Secretary Grant Shapps said the company's collapse was "very sad news for staff and holidaymakers".
He urged holidaymakers to be "understanding with staff" amid the "enormous" task of bringing people home.
Mr Shapps has announced that the government and CAA has hired dozens of charter planes to fly customers home free of charge.
The emergency operation, codenamed Operation Matterhorn, is aiming to bring home Britons currently on holiday with the firm.
On Sunday, empty aircraft had already started to be flown overseas, ready to bring British tourists home on Monday.
One of the world's best known holiday brands, the business was founded in 1841 in Leicestershire by cabinet-maker Thomas Cook.
How will holidaymakers get home?
All
customers currently abroad with Thomas Cook who are booked to return to
the UK over the next two weeks will be brought home "as close as
possible" to their booked return date, the Department for Transport
(DfT) has said.
Customers will be brought home to the UK on special free flights or booked onto another scheduled airline at no extra cost.
The DfT added that a "small number" of passengers may need to book their own flight home and reclaim the costs.
Customers
have been urged not to cut short their holiday or go to the airport
without checking the website for more information about their return
journey.
The CAA is also contacting hotels accommodating Thomas
Cook customers, who have booked as part of a package, to tell them that
the cost of their accommodation will be covered by the government,
through the Air Travel Trust Fund and Air Travel Organiser's Licence
scheme (Atol).
The CAA said in a statement: "All Thomas Cook bookings, including flights and holidays, have now been cancelled.
"We know that a company with such long-standing history ceasing
trading will be very distressing for its customers and employees and our
thoughts are with everyone affected by this news."
Tim Johnson,
policy director of the CAA, told BBC News it has chartered "more than
40" aircraft, which are already in position, to bring passengers home.
He
urged customers in the UK who were due to travel not to go to the
airport "because very sadly your flight has been cancelled".
Mr
Johnson added: "For those who have not yet started their holiday, we
will be publishing details of how they can claim a refund on the
website, no later than next Monday."
Business Secretary Andrea
Leadsom has said she will write to the Insolvency Service urging them to
"fast-track" their investigation into the circumstances surrounding
Thomas Cook going into liquidation.
The DfT said the investigation will also consider the conduct of the directors.
Travel expert Simon Calder told BBC News that planes at Manchester
airport have already begun to be impounded following news of the
collapse.
"Shortly after midnight, we saw the airport putting a
notice of detention on some Thomas Cook aircraft because of unpaid
airport bills," he said.
What went wrong?
Thomas
Cook had secured a £900m rescue deal led by its largest shareholder
Chinese firm Fosun in August, but a recent demand from its lending banks
to raise a further £200m in contingency funding had put the deal in
doubt.
Fosun said in a statement it was "disappointed" following news of the collapse.
It
added: "Fosun confirms that its position remained unchanged throughout
the process, but unfortunately other factors have changed.
"We extend our deepest sympathy to all those affected by this outcome."
The
holiday company had spent all Sunday in talks with lenders trying to
secure the additional funding and salvage the deal, but to no avail.
It had also asked the government for financial aid, a solution also urged by Labour and union groups.
Customers
on a package holiday have Atol protection - a fund paid for through
industry levies - which will cover the cost of their holiday and
repatriation.
Thomas Cook has blamed a series of issues for its
problems including political unrest in holiday destinations such as
Turkey, last summer's prolonged heatwave and customers delaying booking
holidays because of Brexit.
But the firm has also faced fierce competition from online travel agents and low-cost airlines.
In addition, many holidaymakers are putting together their own holidays and not using travel agents.
What are your rights?
If you are on a package holiday you are covered by the Atol scheme.
The scheme will pay for your accommodation abroad, although you may have to move to a different hotel or apartment.
Atol will also pay to have you brought home if the airline is no longer operating.
If you have holiday booked in the future you will also be refunded by the scheme.
If
you have booked a flight-only deal you will need to apply to your
travel insurance company or credit card and debit card provider to seek a
refund.
When Monarch Airlines collapsed in 2017, the government
organised to bring home all the stranded passengers, whether they were
covered by Atol or not.
Are
you a Thomas Cook customer or member of staff? If you've been affected
by the issues raised here, you can get in touch by emailing haveyoursay@bbc.co.uk.
Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways:
Unable to adapt to the move online as smaller, nimbler travel
companies thrive, Thomas Cook, the household name in international
travel, is close to financial collapse. And the collapse could leave up
to 150,000 British tourists stranded overseas.
The iconic British
travel giant Thomas Cook say they’ve failed to find any further private
investment to stave off collapse and now relies on an unlikely
government bailout. The group is blaming “Brexit uncertainty” as the
major problem with their current malaise.
The operator announced
they needed £200 million (US$250 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 – customers who are currently overseas.
A source close to the negotiations told AFP the company had failed to
find the £200 million from private investors and would collapse unless
the government intervened. Without another bailout by its Chinese major
shareholder Fosun, the brand’s financial options are few.
But
ministers are unlikely to step in due to worries about the pioneering
operator’s longer-term viability leaving it teetering on the brink of
collapse and stranding up to 150,000 British holidaymakers abroad.
“We
will know by tomorrow if agreement is reached,” the source told AFP.
The firm’s shareholders and creditors are scheduled to meet from 9 am
(0800 GMT) on Sunday morning, followed by a meeting of the board of
directors in the afternoon.
The Transport Salaried Staffs Association, which represents workers at the company, called on the government to rescue the firm.
“It is incumbent upon the government to act if required and save this
iconic cornerstone of the British high street and the thousands of jobs
that go with it,” said TSSA General Secretary, Manuel Cortes.
“The company must be rescued no matter what.”
Two
years ago, the collapse of Monarch Airlines prompted the British
government to take emergency action to return 110,000 stranded
passengers, costing taxpayers some £60 million on hiring planes.
The government at the time described it as Britain’s “biggest-ever peacetime repatriation”.
Thousands
of workers could also lose their jobs, with the 178 year old company
employing about 22,000 staff worldwide, including 9,000 in Britain.
Chinese
peer Fosun, which was already the biggest shareholder in Thomas Cook,
agreed last month to inject £450 million into the business. In return,
the Hong Kong-listed conglomerate acquired a 75% stake in Thomas Cook’s
tour operating division and 25% of its airline unit.
Creditors and
banks agreed to inject another £450 million under the recapitalisation
plan announced in August, converting their debt in exchange for a 75%
stake in the airline and 25 percent of the tour operating unit.
Thomas
Cook in May revealed that first-half losses widened on a major
write-down, caused in part by Brexit uncertainty that delayed summer
holiday bookings. The group, which has around 600 stores across the UK,
has also come under pressure from fierce online competition.
