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9/23, 3:15 AM (Source: TeleTrader)
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Thomas Cook to undergo liquidation

The oldest British travel operator Thomas Cook Group plc announced it has entered "compulsory liquidation" and is now under the control of the Official Receiver.

"The UK business has ceased trading with immediate effect and all future flights and holidays are cancelled," the company said in a statement. The United Kingdom Civil Aviation Authority confirmed it will launch the "biggest ever peacetime repatriation" of more than 150,000 Thomas Cook's customers abroad. The operation will be conducted over the next two weeks on the request of the British government, according to the statement from the watchdog.

"We have launched, at very short notice, what is effectively one of the UK's largest airlines, involving a fleet of aircraft secured from around the world. The nature and scale of the operation means that unfortunately some disruption will be inevitable. We ask customers to bear with us as we work around the clock to bring them home. We urge anyone affected by this news to check our dedicated website, thomascook.caa.co.uk, for advice and information," said Richard Moriarty, Chief Executive of UK Civil Aviation Authority.

Breaking the News / NI