Thomas Cook collapses, stranding travellers around the world
The sudden failure of one of the world's oldest travel companies left hundreds of thousands abroad and shook the industry.
Thomas Cook, one of the world's oldest and best-known travel companies, collapsed this September after 178 years in business, abruptly ceasing operations and leaving hundreds of thousands of holidaymakers stranded abroad in a shock to the global travel industry.
The British firm, which had pioneered the package holiday and become a household name over generations, had struggled for years under a heavy debt load, intense competition from online booking sites and budget airlines, and changing travel habits. Last-ditch efforts to secure a rescue deal failed.
Its collapse triggered the largest peacetime repatriation in British history, as authorities scrambled to bring home the many thousands of travellers left abroad when their flights home vanished overnight. Hotels in some destinations reportedly demanded payment from guests whose bills the failed company could no longer cover.
The failure was a stark illustration of the upheaval reshaping the travel industry, as traditional operators that bundled flights, hotels and transfers struggled to compete in an age when travellers increasingly assembled their own trips online and flew with low-cost carriers.
For the industry, the demise of such a storied name was a sobering moment, and a reminder of the risks that can lurk behind even the most familiar brands. For travellers, it underscored the value of protections like travel insurance and bonded schemes, and the vulnerability of being far from home when the company that got you there disappears overnight.