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

The collapse of Thomas Cook group leaves 600,000 people stranded, and the UK is launching a massive effort to get 150,000 British people home.

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.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BusinessInsider /  🏆 729. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ailing Thomas Cook in talks with UK government and investors for rescue dealBritain's Thomas Cook is in talks with the government and potential investo...
Read more »

UK PM Johnson questions whether Thomas Cook bosses 'properly incentivized'British Prime Minister Boris Johnson on Monday questioned whether the directors ...
Read more »

Government should have saved travel firm Thomas Cook - UK Labour PartyThe British government should have stepped in with a temporary rescue package fo...
Read more »

I will be guided by my Labour Party on Brexit, says UK leader CorbynBritish Labour leader Jeremy Corbyn said on Sunday he would be guided by his opp...
Read more »

Let's decide our Brexit referendum stance now, says UK Labour's foreign policy chiefBritain's main opposition Labour Party should make a decision on what to ca...
Read more »

UK will respect Supreme Court ruling on suspension of parliament: Foreign ministerBritain will accept the Supreme Court's upcoming ruling on whether the gove...
Read more »