Thomas Cook Germany Files for Insolvency
Thomas Cook travel companies in Germany have filed for insolvency, as the group tries to limit the fallout from its UK parent’s liquidation and attract investment.
Initially, insolvency applications will be made for Thomas Cook Germany, Thomas Cook Touristik and Bucher Reisen, and Öger Tours. Other companies in the German group may also be affected.
A company statement said all business operations have been discontinued, including all sales of travel with Thomas Cook tour operators. The businesses affected include Thomas Cook Signature, Neckermann Reisen, Bucher Reisen, Öger Tours and Air Marin.
Thomas Cook’s German airline Condor is still flying after it received a bridge loan guarantee from the federal and Hesse state governments. The federal government is now considering an application for a bridging loan from Thomas Cook Germany.
Thomas Cook Airlines Scandinavia cancelled several flights on Wednesday, with more delayed as it tries to survive its parent’s failure. Thomas Cook Austria has also filed for insolvency.
Repatriation flights continued on Wednesday with over 70 flights operated on behalf of the UK CAA, which has been tasked by the British government to get Thomas Cook customers home over the next two weeks.