Tour operator Thomas Cook has entered compulsory liquidation after last-minute deals aimed at rescuing the company collapsed.
According to the UK Civil Aviation Authority (CAA), Thomas Cook has started compulsory liquidation and has "ceased trading with immediate effect". The collapse of the company left over 150,000 British holidaymakers stranded overseas.
Peter Fankhauser, chief executive officer of Thomas Cook, called the company's collapse as a "matter of profound regret" and apologized to the firm's "millions of customers, and thousands of employees" following the announcement of the compulsory liquidation. The company's failure places  22,000 employees at risk globally, including 9,000 in the UK.
Department of Transport (DfT) Secretary Grant Shapps said that this was "very sad news for staff and holidaymakers" and that the government and the CAA has launched an emergency operation called Operation Matterhorn, which is aimed at repatriating Britons currently on holiday with Thomas Cook.
Shapps asked holidaymakers to be "understanding with staff" amid the "enormous" task of bringing people home. On Sunday, several aircraft have started to be sent overseas as part of the operation on Monday.
According to the DfT, all Thomas Cook customers currently abroad who are booked to return over the next two weeks to the UK will be repatriated "as close as possible" to their scheduled return date. Starting Monday, passengers will be brought home on special free flights or booked onto another scheduled airline at no extra cost.
A dedicated website will be used to post details of each flight.
However, the DfT said that a "small number" of customers may need to book a flight home on their own and reimburse the costs. The transport department also called on Thomas Cook customers to avoid cutting their holiday short or going to the airport without checking the website for more information about their return.
The CAA has released a statement saying "All Thomas Cook bookings, including flights and holidays, have now been cancelled.
