Following the collapse in September of tour operator Thomas Cook UK, its German subsidiary, Thomas Cook GmbH, has announced that it has cancelled all its scheduled trips for 2020.
Thomas Cook Germany is the second-largest tour operator. It’s cancellations leave 660,000 customers and 2,100 employees affected. The cancellations also apply to any bookings made through Thomas Cook Signature, Thomas Cook Signature Finest Selection, Neckermann Reisen, Oeger Tours, Bucher Reisen and Air Marin, as well as flights booked through Swiss company Thomas Cook International.
Thomas Cook GmbH had filed for protection from its creditors in September and had failed to find a buyer. Insurer Zurich Germany said it had already received 150,000 claims by 1 November totalling over €250 million euros not including the cost of repatriating stranded holidaymakers.
According to Greek Travel Pages:
“insurer Zurich Germany said it was looking into reimbursement claims adding that any compensation would unlikely cover the full costs paid.”
NavInvest Greece supports hotel and tourism accommodation investments in Greece, and has extensive experience in due diligence on tourism and property investments. Please contact us for more information relating to hotel and property investments in Greece.
Thomas Cook Germany Goes Down Too
Greek Travel Pages, 13 November 2019
Thomas Cook Germany cancels all trips for 2020
Deutsche Welle Germany, 12 November 2019
Thomas Cook Germany to close as administrators fail to find buyer
Travel Weekly UK, 8 November 2019
Photo (c) Thomas Cook