it has been my privilege to lead thomas cook. it is deeply distressing to me that it has not been possible to save one of the most loved brands and travel. thank you. do you take personal responsibility? the overnight collapse of thomas cook has been described as "very sad news" by the government. the transport secretary, grant shapps, has been speaking to the bbc this morning and says he considered very carefully whether the government could step in to help the company. it is certainly something i looked very carefully at, because obviously a travel company with a 178 year history, household name, everyone would love it to succeed and survive. in the end, there was a huge amount of debt. £1.7 billion of debt in the company. they have not really kept pace with the times where people booked so many things online and match holidays and travel and cars and everything together. so there were real systemic problems there. we felt if money was put into it, something the government would not usually do for a travel company anyway, we w

no more thomas cook flights. people due to flyer, they shouldn't turn up at the airport because their flights will not be going on for people abroad on thomas cook holidays, a huge operation is being put in place across europe to make sure people can get back to their home countries. the civil aviation authority is primarily concerned with the situation here in the uk. it says around 150,000 british citizens are currently on thomas cook holidays at the moment. a huge operation is being launched to ring them back for the next couple of weeks. and we really not seen anything on the scale of the airline industry before. monarch went bust a short while ago and in that case, the british government organised the return of around 100,000 passengers. here we are talking about 150,000 uk citizens being returned us in other parts of europe, and thought another a50,000 people, a lot of journalists, scandinavian holidaymakers and the governments there will be looking at putting similar plans in place the people aren't left s

in the event that thomas cook colla pses in the event that thomas cook collapses and it has collapsed. what is your estimated cost? over 40 planes, 1000 flights over the period, we estimate at the moment that this will cost roughly twice what the repatriation cost a couple of years ago which is in the order of years ago which is in the order of £50 million so something into the order of £100 million. 200 million to bail out thomas cook to keep going and it will cost half that to just get people home? it is the directors of the company who are responsible for the financing and the ongoing solvency of the business and it is they who have decided to put the company into liquidation and that was given effect this morning. 0ur sole focus is about the repatriation effort and bringing those 150,000 customers back to the uk. another question which you may 01’ uk. another question which you may or may not be able to answer. for those who have booked thomas cook holidays but are flying with other companies like easyjet, there flights are still in place but the accommodation provided by thom

deal to thomas cook. 0bviously a great deal to thomas cook. obviously it's of a different era and it wasn't ready for 21st century. a lot of people will be asking, how did this happen? do you think there was partial mismanagement or as you say, itjust didn't keep up with the times?m was using a model that was great for the second half of the 20th century where people would immediately go into their travel agency and book a package holiday for one week or two weeks and go off and enjoy it. now, of course, everybody can pretend they are a travel agent at least, they've got access to all the airline seats, or the car rentals in the world and they can put things together themselves and thomas cook, even though it's great of —— full of great professionals, it simply wasn't differentiating enough, it wasn't differentiating enough, it wasn't making the most of its expertise and its mighty brand name soa expertise and its mighty brand name so a great deal of sadness that this company has folded and many, many

don'tjust book it, thomas cook it. becoming one of the world's best known holiday brands, opening hundreds of high street shops. it merged with the owner of this brand in 2007 to create a european travel giant, but its finances soon became stretched. thomas cook was a business with a huge amount of debt, it almost went bustin huge amount of debt, it almost went bust in 2011 and it has not had the financial resilience to weather the huge changes in the market, with a low caste curry is coming along, people booking online rather than through traditional high street agents and more recent factors, we have had brexit, consumer confidence has been knocked, weather conditions, all sorts going on and it has added up to a perfect storm for thomas cook. by may this year, the warning lights were flashing, thomas cook slumping to a 1—5p loss. last month, a £900 million rescue plan was hatched. it planned to sell large parts of its business to its largest shareholder, chinese company fosun and then a last—minute demand from t

it has been my privilege to lead thomas cook. it is deeply distressing to me that it has not been possible to save one of the most loved brands in travel. thank you. do you take personal responsibility? the overnight collapse of thomas cook has been described as "very sad news" by the government. the transport secretary, grant shapps, has been speaking to the bbc this morning and says he considered very carefully whether the government could step in to help the company. it is certainly something i looked very carefully at, because obviously a travel company with a 178—year history, household name, everyone would love it to succeed and survive. in the end, there was a huge amount of debt. £1.7 billion of debt in the company. they have not really kept pace with the times where people booked so many things online and match holidays and travel and cars and everything together. so there were real systemic problems there. we felt if money was put into it, not something the government would not usually do for a travel company anyway,

don'tjust book it, thomas cook it. becoming one of the world's best known holiday brands, opening hundreds of high street shops. it merged with the owner of this brand in 2007 to create a european travel giant, but its finances soon became stretched. thomas cook was a business with a huge amount of debt, it almost went bust in 2011 and it has not had the financial resilience to weather the huge changes in the market, with low—cost carriersjet2 coming along, people booking online rather than through traditional high street agents and more recent factors, we have had brexit, consumer confidence has been knocked, weather conditions, all sorts going on and it has added up to a perfect storm for thomas cook. by may this year, the warning lights were flashing, thomas cook slumping to a 1—5p loss. last month, a £900 million rescue plan was hatched. it planned to sell large parts of its business to its largest shareholder, chinese company fosun and then a last—minute demand from the banks for 200 million to keep it goin

where did thomas cook go wrong? can i add my condolences to all of the staff and employees affect and buy all this. it is a real shame. it is all this. it is a real shame. it is a legacy brand, a famous british brand. to understand the issues you have to go back a decade or more, a large merger which thomas cook went through with mind travel with debt taken into the business. the debt pile has grown. while it is undoubtedly a troubling period for travel businesses at the moment, loss of its competitors are not having those problems. as you say, it had a huge debt pile which is a massive burden for the company but also, the way we book holidays, where we are going and why, and the weather has made a huge shift which thomas cook has tried to adapt to but couldn't. a travel company of this size and scale gets impacted by pretty much everything that goes on in the world, whether it is a crisis in the world, whether it is a crisis in the gulf with oil prices, a major hurricane like hurricane dorian. travel businesses are

thomas cook brought $400000.00 tourists a year. but after the sudden bankruptcy with $70000.00 less tourists are coming this season it's not just bad for the airport it's also bad for tourism partners in the region the airport is considering shifting away from the charter airlines the package store companies rely on and focusing instead on increasing the number of individual tourists to the region and to many hotels are likely to follow suit as the fallout from the thomas cook bankruptcy continues. according to the world's travel and tourism council tourism is turkey's 2nd most important sector of the construction it accounts for 12 percent of turkey's g.d.p. and our correspondent joins us now from istanbul to what actual damage was already caused by the thomas cook insolvency the way you will. well here is temple well i am right now is probably a different story but the south and coastal resorts around mom are isn't fadia that are particularly popular with british tourists are likely to be among the worst hit . tourists continue t

cook holidays or thomas cook flights. many different moves taking place to try and make that happen. let's get an update on what has been taking place in the last hour. we go back to simon calder, live. what can you tell us a sense this has happened? live. what can you tell us a sense this has happened ?|j live. what can you tell us a sense this has happened? i am afraid things have been moving pretty fast. a great deal of upset here. i am at the arrivals at manchester airport, the arrivals at manchester airport, the busiest airport in the uk. we have had planes arriving, from turkey, from greece, cyprus is due very shortly and then within transatlantic flights from cuba, jamaica, mexico and the us will touch down but once they arrive, i am afraid the group will learn that they have lost theirjob. —— the crew, and the aircraft will be impounded by airport authorities until the airport charges have been paid at which stage the leasing companies that owned them will fly them off somewhere else but if you can imagine the

more on thomas cook later. japan should today for a public holiday, that is the close on friday, as a bleak reopening tomorrow. in asia, a bit ofa reopening tomorrow. in asia, a bit of a mixed day, if not quite negative, the price of oil edging higher, talk about that in a moment. let's look at shares in europe. i mentioned easyjet shares up, ryanair up mentioned easyjet shares up, ryanair ‘7. mentioned easyjet shares up, ryanair up 3%, companies that may well benefit from the collapse of thomas cook. tui also. maybe dry to swap what was a thomas cook holiday with perhaps a tui holiday. we'll talk about that in a moment. and vivienne nunis has the details of what's ahead on wall street today. the manufacturing sector here in the us has been contracting lately amid a series of global economic headwinds, worries about brexit, the us china trade war and the global slowdown have all put a dampener on business activity. on monday, it will get a fresh chance to assess the health of us industry activity when the lat

the boss of thomas cook there. take us the boss of thomas cook there. take us through some of the immediate practical implications. there are about 150,000 british practical implications. there are about 150 , 000 british people practical implications. there are about 150,000 british people on holiday with thomas cook and several thousand from other countries. in terms of the people, the british people abroad, the civil aviation authority has launched a major operation to make sure they can get home. thomas cook sold package tours which benefit from protection and that means the people already on holiday shouldn't really have too much to worry about. their hotels will be paid for, they may have to move but they will still have a roof over their heads and they will be brought back again. the same goes incidentally for people who simply bought flights by thomas cook was make airline. although they are not covered, the civil aviation authority says as it did with monarch a few years ago, when they went bust, it will bring those people home as well but thos

time is running out for thomas cook. u nless is running out for thomas cook. unless a rescue deal is done by tonight, the firm will fold. we have just flown in from bristol, we are rather concerned obviously with regards to what is going to happen, whether we will be able to fly home or not. i really couldn't care less, ifi or not. i really couldn't care less, if i get stockier against the care. last night tourists on holiday with with thomas cook were temporarily not allowed to leave their hotel in tunisia. the coach is trying to get in to collect people to go to the airport to leap to go home, and management aren't allowing it. hotel management aren't allowing it. hotel management apparently worried they might not get the money owed to them by the company. and then there is people like andrew and sharon, uncertain if their dream vegas wedding, but with thomas cook, will happen. your heart sinks, everything planned to the minute detail and then all of a sudden everything could come apart at the last moment and it is just appealing could come apart at the last

anna: thomas cook shuts up shop. the travel company folds under the weight of its debt, leaving tens of thousands of tourists stranded. brexit goes stateside. boris johnson takes his bid for a deal to the general assembly in new york. labor divisions threaten to undermine its party conference in brighton. brent resumes gains on concerns over aramco's output. iran's foreign minister sounds a tough tone after a u.s. troop deployment to saudi arabia. >> i'm not confident we can avoid a war. we are confident we will not start one, but i'm confident that whoever starts one will not be the one who finishes it. half-hour less than a hour to go until the european open. i'm taking a look at a month-long chart of oil. you can see the break away to the upside when those aramco facilities were attacked. we then recovered to some extent, but we are coming back up in terms of the group rice. those tensions are building backup. take a look at what we are expecting in terms of the cash equities open. we have the ftse, cac, and dax f

i brought in thomas great to have you with us the world's oldest travel company thomas cook has collapsed after failing to secure a last minute bell out more than half a 1000000 people worldwide are at this hour on holiday with that group the u.k. civil aviation authority is beginning the operation to bring home some 150000 british customers stranded abroad. head tim johnson had this message for thomas co travelers if customers passengers have a flight booked out from the u.k. today unfortunately your flight has been canceled. for the please don't go to the airport if you're overseas on a thomas cook holiday and you can continue to enjoy your holiday the cia is launching. this is the largest since the 2nd world war. so what about the many people who are stranded at this hour here's some reactions from british travelers in spain at new york as airport. one man they mistrust. no one has really pulled through can you do we want to show in the news 15 days what's happening. there no one has spoken does no one has emailed the 2 planes and just one but i. thought you were flying once assuming n

tourism one of cook's investors had been in talks to acquire a controlling stake in thomas cook for around 450000000 pounds but of course those talks collapsed. well over to europe a steep drop in german manufacturing is dragging down the eurozone economy that according to a key survey of business exacts the purchasing managers index which offers a snapshot of private sector activity dropped to a 6 year low in september that suggest the eurozone economy is stalling in close recession news that the euro down 4 tenths of a percent against the dollar on monday economic powerhouse germany saw its factory activity shrink at its fastest rate for a decade during september. and for more on this let's go to our financial correspondent in new york yes korda nice to see you and his european markets didn't like this negative p.m.i. reading did wall street react well i mean analysts on wall street at least the cold those numbers plain all fall and it's not that the u.s. is immune to turmoil overseas but on the other side what is still holding the u.s. economy together is u.s. consumption and at

thomas cook brought $400000.00 tourists a year. but after the sudden bankruptcy of $70000.00 less tourists are coming this season it's not just bad for the airport it's also bad for tourism partners in the region the airport is considering shifting away from the charter airlines the package tour companies rely on and focusing instead on increasing the number of individual tourists to the region and to many hotels are likely to follow suit as the fallout from the thomas cook bankruptcy continues according to the world's travel and tourism council tourism is turkey's 2nd most important sector of the construction it accounts for 12 percent of turkey's g.d.p. our correspondent joins us now from istanbul to what actual damage was already caused by the thomas cook insolvency the way you will. well here is temple where i am right now is probably a different story by the south and coastal resorts around mom or us and fadia that are particularly popular with british tourists are likely to be among the worst hit . tourists continue to leave

thomas cook, though, has been struggling for a decade. it almost collapsed in a 2011 after mergers had left it with 1,200 high street stores, just as customers were moving online. just as customers despite cutting those stores, it announced a loss of £1.5 billion back in may, which pushed it deeper into debt. a private deal, involving the chinese company and club med owner fosun, fell apart when it emerged the company was still in need of an additional £250 million. these desks should be buzzing with 5000 people checking in on 23 flights out of manchester airport. they are silent. thomas cook, another victim of that classic company killer, debt. when you owe £1.7 billion, not much needs to go wrong to tip you over the edge. the private sector couldn't find an answer, and the government refused to step in. it's not had the financial resilience to weather the huge changes in the market, with the low cost carriers coming along, jet2 holidays, people booking online rather than using traditional high street agents, perhaps. and more recent

what is your message to thomas cook?|j understand is your message to thomas cook?” understand it is atoll protected but they should still get in touch with us. they should still get in touch with us. at least send an e—mail, keep us involved. —— atol. if it does go to the wire, where our negotiations? if it looks like it will be a positive outcome, just do not know. the headlines on bbc news: millions of people protest around the world to demand greater action on climate change. labour's ruling body is to hold a vote on whether to abolish the post of deputy leader, currently held by tom watson. thousands ofjobs are at risk and british holiday makers could be left stranded, if thomas cook faces collapse. an american woman who says she had sex with prince andrew as a teenager, has spoken in detail about the allegations for the first time. virginia roberts giuffre told nbc news in america, that she was "trafficked" to prince andrew, whom she described as "an abuser". her allegations first came to light in court papers lodged against the billionaire businessman je

what will happen next to thomas cook? well, the compa ny‘s will happen next to thomas cook? well, the company's shareholders have been meeting with creditors, hoping to get an extra £200 million. that's roughly $250 million us in extra funds. of course, there are concerns that if the company colla pses, concerns that if the company collapses, around 150,000 british holidaymakers around the world could be stranded. the uk government has already said it is ready to fly them home. foreign secretary dominic raab was also asked if the government would consider rescuing the company itself. we don't systematically step in with taxpayer money when businesses are going under. not unless there is a good strategic national interest for doing so. well, thomas cook is the oldest travel agent in the united kingdom, founded in 18111. it has been facing quite a lot of challenges, because of online holiday booking companies, which have become a lot more popular, as well as low—cost airlines, providing tough competition. our europe correspondence gavin lee is at palma airport on the spanis

has at some point traveled with thomas cook a know somebody who has traveled with thomas cook so why the question did the u.k. government not to save the company basically they did the numbers and they said it wasn't profitable at all thomas cook has been in debt 1700000000 and when the u.k. government crunched the numbers there they figured that it wouldn't be profitable in the long term that they were a systemic problems and that it just wouldn't be worth saving and sure the question which also needs to be did briggs it really ruin all of this. well it played at least some pod i think of the u.k. government not saving thomas cook for example they didn't also want to set a precedent there are many companies at the moment currently with the uncertainty of brecht's that and the u.k. struggling and the u.k. government didn't want to say for comment thomas cook and set the precedent for other companies but on the other hand thomas cook struggled also because of bricks and because of that uncertainty a lot of travelers in the u.k. decided to cancel plans to travel abroad and that is why

thomas cook, though, has been struggling for a decade. it almost collapsed in a 2011 after mergers had left it with 1,200 high street stores, just as customers were moving online. despite cutting those stores, it announced a loss of £1.5 billion back in may, which pushed it deeper into debt. a private deal, involving the chinese company and club med owner fosun, fell apart when it emerged the company was still in need of an additional £250 million. these desks should be buzzing with 5000 people checking in on 23 flights out of manchester airport. they are silent. thomas cook, another victim of that classic company killer, debt. when you owe £1.7 billion, not much needs to go wrong to tip you over the edge. the private sector couldn't find an answer, and the government refused to step in. it's not had the financial resilience to weather the huge changes in the market, with the low cost carriers coming along, jet2 holidays, people booking online rather than using traditional high street agents, perhaps. and more recent factors, we've had

after three, shout good luck thomas cook. one, two, three. good luck, thomas cook! thank you so much. obviously that was before everything went wrong yesterday. deirdre hutton, what else can you tell us about the repatriation programme? just before i do that, cani programme? just before i do that, can i say that absolutely my heart goes out to the thomas cook employees? this is the world but '5 oldest travel company and it is incredibly sad to see it go like this. as your lady said, 9000 jobs in the uk, people waking up to horrible news for theirjobs and livelihoods and they are very much in our thoughts. we have been asked by the government to repatriate 150,000 people and that is a pretty massive job. it is like building the uk's massive job. it is like building the uk's fourth—largest aircraft from nothing. i uk's fourth—largest aircraft from nothing. lam uk's fourth—largest aircraft from nothing. i am very focused on that. we have 61 flights today. we are bringing people back from 18 countries from 55 airports in the next two weeks. people should stay and

on in berlin while we begin with the collapse of the world's oldest travel company thomas cook it stopped operating after failing to secure a last minute bailout that's left more than half a 1000000 holidaymakers around the world stranded what have more on that in a minute but here's a look back at the iraq that's now come to an end it all began 178 years ago as a father and son outfit offering modest trips between english cities but it grew into a multi $1000000000.00 travel firm with global reach and $22000000.00 customers at the turn of the century the group expanded rapidly buying up tour operators hotels and airlines across europe along the foreign subsidiaries are tour operator necromancer which offers trips to customers in germany switzerland austria and others to that coax planes the groups airline business comprise comprises of thomas cook airlines and condor germany together they have one $105.00 jets despite the group's collapse condor remains an operation flights are running normally but it's requested a bridging loan from the government and has said it cannot on our bookings

after the collapse of the world's oldest travel company thomas cook the tourism industry is worrying about ripple effects central to the war as is the company's german subsidiary condo or as well as the questions with the other financial failures. almost a day after the bankruptcy announcement by one of europe's largest travel operators thomas cook branded planes remained parked tourists stranded at airports still clueless as to how to get to their destinations or back home. we were told that all the lights canceled and there was no one. so we actually were told to go. their own 15000 holiday makers on thomas cook books travel have been flown home once the company went bankrupt many more will be brought back within the next few days if you're overseas on a thomas cook holiday and you can continue to enjoy your holiday at the cia is launching . this is the launch. since the 2nd world war and we will be bringing home every party. back to the u.k. as close as possible to their return date. tourists however are not the only ones worried thomas cook book vacations for millions of customer

not wanted really before would hold your thought can you do if you're overseas on a thomas cook holiday and you can continue to enjoy your holiday the cia is launching. this is the largest repression since the 2nd world war and we will be bringing home every party. back back to the u.k. as close as possible to their return date 150000 brits need to be flown home in all 600000 holidaymakers are affected. the farm has been struggling in recent years mounting debts at high interest rates alongside changing consumer habits combine to create rough conditions in the travel and aviation market uncertainty surrounding breaks it didn't help matters things came to a head last month in order to raise cash quickly the bosses put the airline business and condo up for sale before scrapping the proposal and presenting a rescue plan to investors despite huge if it's over the number of months. and that intense negotiations in recent days we have not been able to secure at the usual to say business for some. of the $20000.00 workers at europe's 2nd biggest travel company there may be smiles but the futur

cook and to try and get hold of thomas cook, which of these it was pointless. the local rep, to be fairto him, he was pointless. the local rep, to be fair to him, he doesn't know if he is going to get paid on monday, he was trying to arrange the payment so that the management would allow us to leave. it was apparently the owner who was in italy and hejust made a commitment that no one was to leave unless you got this payment from thomas cook. a second coach then turned up and was turned away by then of course it was getting a bit fraught. tempers were fraying. i have seen some reports that the guards were armed. there were not armed. a lot of them are the guys who were on the beach patrol. they we re who were on the beach patrol. they were just what they were told to do, prevent us from leaving. a lot of talking but there was no actual, any physical restraint. it started to rain. everyone went back inside and for the next two hours we all stayed in there. then they wouldn't let our luggage be released and then one of the lads managed to get inside the luggage s

have you been with thomas cook before? no. first time? they arranged the holiday, i am just a tag—along. looking at the situation, you are one of the last passengers to get on the last flight arriving here on a sunday. well, hopefully it will all go well! we are only here for a week. a british pragmatist at its best, good luck! well, that is the feeling, quite reflective, a few people say we are worried, we have been looking at the news — most people say, let's see what happens, it is a holiday, there are worse places to be. the situation at the moment from palma airport. that was gavin lee there. the headlines on bbc news: jeremy corbyn says he'd serve a full term as prime minister if labour won the next general election and plays down criticism of his leadership from a senior aide. meanwhile, labour is promising free prescriptions for all, as it tries to put policy back in the spotlight at a party conference overshadowed by internal rows. thomas cook is holding emergency talks as it tries to agree a rescue deal to prevent it from go

the world's oldest travel company thomas cook stuff for failing to secure a last minute bailout more than half a 1000000 people worldwide holiday with the group. beginning an operation to bring customers stranded abroad back to britain but it is unclear whether the. holiday makers as well. thomas cook holiday makers in the spanish island of majorca wondering how they are going to get home. they just how disconnected out of the iberia desk we should get more information from them that we're not too sure they still say. our flight is delayed to. go one hour and passengers yet to begin their trips looking for clarity. our customers passengers have a flight booked out from the u.k. today unfortunately your flight has been canceled don't go to the please don't go to the ports if you're overseas on a thomas cook holiday then you can continue to enjoy your holiday at the cia is launching. this is the largest repulsion since the 2nd world war and we will be bringing home everybody. back back to the u.k. as close as possible to their return date 150000 brits need to be flown home in all 60000

what thomas cook is still offering offering these packages it's got these expensive high street shops you know who is it who goes into a high street shop to book their holiday now. hardly anybody does so they've got that as well they haven't really adapt to changing tastes change trends changing consumer behavior and that shows in their profitability date they haven't got any profitable business lines really but we so of course a few years ago the collapse of monarch airlines thomas cook now is a major blow for internationally renowned a respected brands what lessons are there in this for other companies who are watching on from the sidelines. but i think the lesson is going to be much quicker to realize what the trends are in the industry and adapt respond to them and make sure their heads occur and also writing is a warning for all companies really which is to don't set yourself a huge amounts of debts because that can come back and bite you francis coppola and london thank you very much pleasure. the un is warning world leaders attending its climate change summit in new york that t

what can you do if you're overseas on a thomas cook holiday and you can continue to enjoy your holiday he's launching. this is the low. since the 2nd world war and we will be bringing haram every party . back back to the u.k. as close as possible to their return date 150000 brits need to be flown home in all 600000 holidaymakers are affected. the farm has been struggling in recent years mounting debts at high interest rates alongside changing consumer habits combine to create rough conditions in the travel and aviation market uncertainty surrounding breaks it didn't help matters things came to a head last month in order to raise cash quickly the bosses put the airline business and condo up for sale before scrapping the proposal and presenting a rescue plan to investors despite huge if it's over a number of months. and that intense negotiations in recent days we have not been able to secure a deal to safe business for some of the 20000 workers at europe's 2nd biggest travel company there may be smiles but the future is far from clear. for more let's bring in clifford coonan from our bus

thomas cook for around 450000000 pounds but of course those talks collapsed. well over to europe a steep drop in german manufacturing is dragging down the eurozone economy that according to a key survey of business exacts the purchasing managers index which offers a snapshot of private sector activity dropped to a 6 year low in september that suggest the eurozone economy is stalling in close recession the news that the euro down 4 tenths of a percent against the dollar on monday economic powerhouse germany saw its factory activity shrink at its fastest rate for a decade during september. and for more on this let's go to our financial correspondent in new york yes korda ins nice to see you and his european markets didn't like this negative p.m.i. reading did wall street react well i mean analysts on wall street at least the cold those numbers plain all fall and it's not that the u.s. is immune to turmoil overseas but on the other side what is still holding the u.s. economy together is u.s. consumption and at this point it still looks rather healthy there was no

don'tjust book it, thomas cook it. running a huge travel firm with several airlines has been made all the harder by fluctuating oil prices and a weaker pound, pushing costs up. the package holiday‘s prominence in the travel market has fallen. just think of the fierce competition from budget airlines and the vast array of options when you book a holiday today. people on or booked on a thomas cook package holiday are protected under the atol scheme. if you booked just a flight it would be travel insurance or a claim to your credit or debit card company. scenes of near normality in places like palma today but real uncertainty about tomorrow. tom joins me now. what's the latest you're hearing tonight? iam i am told tonight that dozens of aircraft which were on standby have now been mobilised. that means basically they are in the air and travelling to destinations where there are thomas cook tourists that might, and might is the important word, might need bringing home tomorrow. it is still a big if, but if thomas cook go

social of the there was that was a thomas cook c.e.o. expressing his regret now why didn't his company get the financial lifeline it was desperately seeking. well it was quite an emotional statement from the c.e.o. and i think this news has hit the u.k. quite hard we know it's the oldest travel agency one of the world's largest so it's the news really has hit the u.k. and everybody basically in the u.k. has at some point traveled with thomas cocoa know somebody who has traveled with thomas cook so why the question did the u.k. government not to save the company basically they did the numbers and they said it wasn't profitable at all thomas cook has been in debt 1700000000 and when the u.k. government crunched the numbers there they figured that it wouldn't be profitable in the long term that there was systemic problems and that it just wouldn't be worth saving and shouldn't the question which also needs to be did briggs it really ruin all of this. well it played at least some pod i think of the u.k. government not saving thomas cook for

more now on the collapse of thomas cook. emma coulthurst is a travel expert from the holiday price comparison site, travelsupermarket. thank you forjoining us. 0k, thank you forjoining us. ok, this is affecting many thousands of people. we have been talking about it most of the day, the kind of response that has been put in place, what kind of protection people have. how would you sum up where we are right now because yellow people are coming home, the repatriation scheme is now under way, flights are being put in place to bring people back and they are leaving within ten minutes or sometimes within a couple of hours. if people are not going to the original airport they flew from, transport is being provided by the caa to take them home. anyone in the next two weeks, whether they are flight next two weeks, whether they are flight only or on a package, the government has stepped in for the flight government has stepped in for the flight only travellers, and everyone else's at all protected and part of the caa scheme and is

we know thomas cook had a lot of dead. the times goes into some of the people that have owed money to including some hotels which is really sad we think about individual hotels in various countries that were owed money so it had sets. we know that brexit has been cited as a reason, not the reason but a reason. volatility of the pound are people not necessarily wanting to go abroad when the uncertainty in stirling is like that. and know that people are changing how they book their holidays. did thomas could not change quickly enough for the times? people book their holidays online now, don't they? and a question that has me going for 150 is that if people are changing, there is not a place for that type of business any more. but they could have adapted. that no way and excuses how this club so suddenly how it came out of nowhere. someone knew it was going down. someone knew it was going down. someone must have known. the times article has more detail about the bosses pay but it also says here, there is an interesting man th

don'tjust book it, thomas cook it. running a huge travel firm with several airlines has been made all the harder by fluctuating oil prices and a weaker pound, pushing costs up. the package holiday‘s prominence in the travel market has fallen. just think of the fierce competition from budget airlines and the vast array of options when you book a holiday today. people on or booked on a thomas cook package holiday are protected under the atol scheme. if you booked just a flight it would be travel insurance or a claim to your credit or debit card company. scenes of near normality in places like palma today but real uncertainty about tomorrow. tom gave us the very latest update a short time ago. iam i am told tonight that dozens of aircraft which were on standby have now been mobilised. that means basically they are in the air, travelling to destinations where there are thomas cook tourists who might, might the important word here, need bringing home tomorrow here. now if, but is still a big if, thomas cook goes into admi

this is a large bankruptcy for in the case of thomas cook remember that thomas cook is a tour package operator with an airline as well. for sure i would say repercussions for the whole industry temporarily on a more positive mode for some of their competitors and may pick up some of the slack in terms of business but in the longer term, it's still the market is there for most operator for the airlines let's not forget the airlines have moved into the tour packages as well so essentially it's all about the growing share of spending among consumers. longer term, actually the thomas cook brand remains a good brand. it's all down to who may be interested in the brand and reinstated the business somehow in the future. >> can i ask you about in some way it was sticking to its guns for the negotiation, didn't try to rescue thomas cook at this point. it relied on the banks does it say something about a ready buyer or the amount of cash that some of the buyers have to swoop on some of the assets should there be some concerns about the ready buyers >> like i said earlier, this is a business tha

it's a low season for thomas cook — in more ways than one. the weak pound makes it more expensive for it to buy the flights and hotels it pays for in euros and dollars. it is in a competitive market where profits are small and it has a lot of costs — hundreds of shops and 22,000 staff. now heading into the winter period, the debt—laden company has a cashflow crisis. if we book a holiday with thomas cook, we will pay for it before we go, obviously, but they actually do not pay the hotel until after we are back, so they pay 60 to 90 days later, which means that everybody that went on holiday through the summer, it is now that thomas cook is beginning to have to pay the hotels. they simply can't and, if they can't pay the suppliers, then the company faces a pretty tough time. the company lenders say it needs an extra £200 million on top of the money it's already secured for a bailout. with a vote on that lifeline next friday, the company is hoping it can get over the next few days to reach that finish. it's a nervous time for customers. we

british tour operator thomas cook is seeking a last minute rescue deal to avoid financial collapse over half a 1000000 holidaymakers a travelling with the company and could be stranded if it fails the company says it's operating as normal. and we reported rape has been following the thomas cook story and he joins me now gerard what's the latest what's going on with the company well it's not looking too good this is a company that's 178 years old it's a british travel icon it's got a global presence it's very very well known it runs hotels and airlines and resorts but over the last year its share price has basically collapsed fallen by something like 90 percent and long story short the company now needs around $250000000.00 to stay afloat if one sits asked the british government will it suggested that the british government could bail it out it's not looking like that's going to happen and now it needs some private investors to step in and that's also looking a little bit shaky to how many people would be affected eve thomas who does go on for instance if it does go under basically immed

what is your message to thomas cook right now? my message to thomas cook right now? my message would be, i understand it is protected but they should still get in touch with us, at least send an e—mail. keep us involved in the chain of what is happening and will be interesting to know that, yeah, if it does go to the wire, are asked —— where negotiations are at. if it looks like a positive outcome, we just don't know. that was steve wardle. the headlines on bbc news: millions of people protest around the world to demand greater action on climate change. thousands ofjobs are at risk and british holiday makers could be left stranded, if thomas cook faces collapse. the woman who claims she was abused by prince andrew speaks out. sport and for a full round up, from the bbc sport centre, here's connie mclaughlin. good evening to you. yes, the waiting is over. the rugby world cup is finally underway injapan. it's the first time the tournamet has ever been played in asia and it's expected to draw in a huge global audience. like samurai warriors, the hosts kicked thing

i think it's important to remember, thomas cook is a specific example. it isn't necessary what represents a wider problem. it's vy specific. >> but given that,ed you menti crete, a couple other places th are feelihe impact of thomas cook. tat do they have t to do now a local economi make up for the gap that will be present and the lack of iome andevenue that will be present without thomas cook. reek government has convened a cabinet meeting to discuss this, again, it's a reminder that tourism is a very important economic driver. it's not that fun thing we can . may enact tax cuts to stimulate the ecomy in the wake of this. ere are a lot of insurances. and it does look like thomas cook may follow thrgh with some of the payments. longer term, they'll have tore turn to dif tmarkets. this was very muchorthern european, looking for warm weather stinations. theye going to be looking for different sources of customers. they're going to lookurther to china, to america, to make markets they didn't traditionally focus on to fill those rooms. >> mark, thank you so

thomas cook brought $400000.00 tourists a year. but after the sudden bankruptcy with $70000.00 less tourists are coming this season it's not just bad for the airport it's also bad for tourism partners in the region the airport is considering shifting away from the charter airlines the package store companies rely on and focusing instead on increasing the number of individual tourists to the region and to many hotels are likely to follow suit as the fallout from the thomas cook bankruptcy continues. and that's it for me in the business team here in berlin you can find more all new stories online at www dot com slash business i'm saying there's a let's watch. did you know it costs $0.50 to feed the hungry child for one full day. the fee for coffee. with a share of the meal you can share with children with just $0.50 and a tap on your smartphone together. please download the app. to take one step further. and face the possible. here on this side of love really tough to search the on the fire for the troops out of the for. the 1st time

hundreds of thousands of travelers fear they could be that stranded if 2 operated thomas cook collapses the company seeking a last minute rescue deal to stay afloat. and in the bundesliga defendant defending champions by munich are in rampant for and against cologne in the varians just couldn't stop scoring. i'm rebecca ritter's welcome to the program hong kong has same another weekend of fiery clashes between pro-democracy protesters and police sunday's protests began pace fully with demonstrators taking over a shopping mall but later turned violent with one group vandalizing and nearby nearby subway station and setting barricades ablaze riot police responded with tear gas and made multiple arrests. as so often the protests started out peacefully crowds down a bit saying what has become the anthem of the protest movement glory to hong kong . i. i the atmosphere was largely festive as protesters filled all the free spaces in the shopping mall some folded paper origami birds as a symbol of hope and peace then they produced a chinese flag and began trampling on it in a clear provocation a

and those will remain closed until thomas cook c.e.o. peta fine counsel has also made a statement 1st let's have a listen to what he had to say i would like to say. to all our customers those who are in holy though you with us now but those who have poked with us in the coming months it is deeply distressing to me that it has no to be impossible to say for all of the most loft grads in travel. social of the there was that was a thomas cook c.e.o. expressing his regret now why didn't his company get the financial lifeline it was desperately seeking. well it was quite an emotional statement from the c.e.o. and i think this news has hit the u.k. quite hard we know it's the oldest travel agency one of the world's largest so it's the news really has hit the u.k. and everybody basically in the u.k. has at some point traveled with thomas cocoa know somebody who has traveled with thomas koch so why the question did the u.k. government not to save the company basically they did the numbers and they said it wasn't profitable at all thomas cook has

don‘tjust book it, thomas cook it. running a huge travel firm with several airlines has been made all the harder by fluctuating oil prices and a weaker pound pushing costs up. but the package holiday‘s prominence in the travel market has fallen. just think of the fierce competition from budget airlines and the vast array of options when you book a holiday today. people on or booked on a thomas cook package holiday are protected under the atol scheme. if you have booked just a flight it would be travel insurance or a claim to your credit or debit card company. scenes of near normality in places like parma today, but real uncertainty about tomorrow. tom burridge, bbc news. alice hancock is a leisure industry reporter at the ft, who told me that some of thomas cook‘s problems are rooted in the firm over—extending itself when it bought out other companies. everything is in the air, but what we‘re seeing from the meeting at the moment, sources say it is looking less and less likely and there are so many different op

people on or booked on a thomas cook package holiday are protected under the atol scheme. if you've booked just a flight, it will be travel insurance or a claim to your credit or debit card company, but the company is, for now at least, still operating normally. our correspondent angus crawford is in central london. lots of talks going on today, angus, what do we know so far? well, to quote an industry insider, this is really the last throw of the dice for thomas coke. we know that there isa for thomas coke. we know that there is a high—level taking place in the city here, we have got the board of thomas cook around a table with the banks and major shareholders, including the biggest shareholder, a chinese company, fosun, trying to work out how to get another £200 million invested into the business. one insider has said they are hopeful of a deal in the next few hours and that no—one wants to be the person that pulls the plug. so what happens next? that is likely to bea what happens next? that is likely to be a board meeting of thomas cook later this afternoon or this

let's start with thomas cook, and yasmin, let's start with the daily mail. thomas cook fatcats had careened off £47 million, and a mind—boggling amount, and the chief executive had been paid £8 million over the last five years. that's on a lot of different pages, they have got on this fatcat story. this is the highest figure i think we have seen the highest figure i think we have seen so the highest figure i think we have seen so far. £47 million bonus... as the firm headed for the rocks. how long ago was the firm heading for this collapse? we don't know. what we re this collapse? we don't know. what were the accountants doing? there are so many were the accountants doing? there are so many questions about this and i hope there is an enquiry, and another part of me thinks what to enquiries ever achieved? it did almost collapse in 2011, and i have been reading up, in 2013 it raised £425 million from shareholders, so it is not as if this has come completely out of the blue, is it? it has been facing problems for many yea rs, it has been facing problems f

thomas cook pioneered the package holiday and rode the wave. don'tjust book it, thomas cook it. one of the world's best known holiday brands, but it's finances then became stretched. thomas cook was a business with a huge amount of debt. it almost went bust in 2011 and it has not had the financial resilience to weather the huge changes in the market, with the low—cost carriers coming along, jet2 holidays, people booking online more than through traditional high street agents, perhaps, and more recent factors — we have had brexit, consumer confidence has been knocked, there have been weather conditions. there's been all sorts going on. slick marketing, but trading's been poor and the challenge has ultimately proved too great. it is deeply distressing to me that it has not been possible to save one of the most loved brands in travel. but he hasn't done too badly — earning more than £8 million since taking charge in 2014, before overseeing the collapse of one of the oldest names in british business. emma simpson, bbc news. our business editor simon jack is at manchester airp

obviously very sad for thomas cook customers. and something you've noticed this week which again, so much going on, it slips off the radar, manufacturing data coming from europe which was pretty dire for germany, wasn't it? yes, pretty low number yesterday. a lot of that really is to do with current manufacturing which is suffering both from worries about the trade war but also changes in regulation and just technological changes, really, so it's pretty significant stuff. the german figure was 41, something around there, anything below 50 is really seen as shrinking industry or market. anything above 50 means the economy is still growing so it's not good news. jane, thank you for now, you are back later, think about what you would give up, the one thing or may be more than one? maybe you have already come to do your bit for the planet? indeed. we'll be talking about that at the end of the planet in light of greta thunberg talking yesterday. still to come — chef's choice... a bakery that's now gone vegan has had a few bumps alon