The UK expects to spend £100 million flying back stranded Thomas Cook passengers, which is only £50 million less than bailing out the company

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Thomas Cook

  • The UK government rejected a £150 million deal to bail out travel company Thomas Cook, this weekend. The failure of talks led to the struggling company declaring bankruptcy.
  • As a result, UK officials are organizing return travel for 150,000 British people, which is estimated to cost around £100 million.
  • 600,000 people are stranded around the world. The UK is chartering planes to bring the British ones home, a huge operation expected to last two weeks.
  • UK Prime Minister Boris Johnson said the government decided not to bail out Thomas Cook because it would set a bad precedent.
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    Source : BusinessInsider.Com

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