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World’s Oldest Travel firm and British travel giant Thomas Cook collapses, stranding hundreds of thousands

Thomas Cook , the World’s Oldest and British travel giant firm on Monday, September 23, declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back stranded passengers.

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[vc_row][vc_column][vc_column_text]Thomas Cook , the World’s Oldest and British travel giant firm on Monday, September 23, declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back stranded passengers.

The 178-year-old operator had been desperately seeking £200 million ($250 million) from private investors to save it from collapse.

“Despite considerable efforts, those discussions have not resulted in agreement between the company’s stakeholders and proposed new money providers,” Thomas Cook said in a statement. “The company’s board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect,” it added. 

Chief Executive Peter Fankhauser said it was a matter of profound regret that the company had gone out of business after it failed to secure a rescue package from its lenders in frantic talks that went through the weekend.

“I would like to apologise to our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years,” Fankhauser said in a statement.

“It is a matter of profound regret to me and the rest of the board that we were not successful,” he added.

“This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world,” he further said.

British Prime Minister Boris Johnson pledged to get stranded British travellers home and revealed that the government had rejected a request from Thomas Cook for a bailout of about 150 million pounds ($187.1 million) because doing so would have set up a “moral hazard”.

“It is a very difficult situation and obviously our thoughts are very much with the customers of Thomas Cook, the holiday makers who may now face difficulties getting home we will do our level best to get them home,” he told  reporters on a plane as he headed to the UN General Assembly in New York.

The government said it had hired planes to fly home an estimated 150,000 holidaymakers to the UK, in an operation starting on Monday.

British Transport Minister Grant Shapps said the government had managed to “acquire planes from across the world” to get people home, and call centres had been established to answer travellers’ queries.

Transport Secretary Grant Shapps also announced that the government and UK Civil Aviation Authority has hired dozens of charter planes to fly customers home free of charge,” a separate statement said, describing it as the largest repatriation in peacetime history.

“All customers currently abroad with Thomas Cook who is booked to return to the UK over the next two weeks will be brought home as close as possible to their booked return date,” he said. 

The firm’s creditors held a marathon meeting on Sunday, September 22, to try and work out a deal, followed by a meeting of the board of directors.

 Reports said a collapse of the group would mean the repatriation of 600,000 tourists, including around 150,000 seeking government help returning to the UK.

Two years ago, the collapse of Monarch Airlines prompted the British government to take emergency action to return 110,000 stranded passengers, costing taxpayers some £60 million on hiring planes.

Not only the grounding of its planes, Thomas Cook has been forced to shut travel agencies, leaving the group’s 22,000 global employees, 9,000 of whom are in Britain, out of a job.

Holidaymakers had already reported problems, with guests at a hotel in Tunisia owed money by Thomas Cook being asked for extra money before being allowed to leave, according to reports.

Ryan Farmer, from Leicestershire, told BBC Radio Five’s Stephen Nolan the hotel had on Saturday afternoon summoned all guests who were due to leave to go to reception “to pay additional fees”.

With many tourists refusing to pay on the grounds they had already paid Thomas Cook, security guards were keeping the hotel’s gates shut, refusing to allow guests out, or to let new visitors enter.

“We can’t leave the hotel. I’d describe it as exactly the same as being held hostage,” Farmer said.

Thomas Cook in May revealed that first-half losses widened on a major write-down, caused in part by Brexit uncertainty that delayed summer holiday bookings. The group, which has around 600 stores across the UK, has also come under pressure from fierce online competition.

Cabinet maker Thomas Cook created the travel firm in 1841 to carry temperance supporters by train between British cities. It soon began arranging foreign trips, being the first operator to take British travellers on escorted visits to Europe in 1855, to the United States in 1866 and on round-the-world trips in 1872.

The company was also a pioneer in introducing “circular note” — products that would later become traveller’s cheques.

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General Asim Munir reaffirms Pakistan’s hardline stance on Kashmir and Balochistan

In a speech abroad, General Asim Munir reignites Indo-Pak tensions by reiterating Pakistan’s claims on Kashmir and dismissing concerns about terrorism and separatist movements.

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In a provocative address to overseas Pakistanis, Pakistan Army Chief General Asim Munir has reiterated Islamabad’s uncompromising position on Kashmir, asserting that it remains Pakistan’s “jugular vein” and would never be forgotten. His remarks, delivered while addressing a gathering of Pakistanis abroad, are likely to provoke a strong diplomatic reaction from India.

General Munir described those residing overseas as Pakistan’s “ambassadors” and urged them to uphold what he called a “superior ideology and culture.” He framed his statements within the context of the two-nation theory, which served as the ideological foundation for the creation of Pakistan in 1947. Emphasising civilizational differences, he said, “Our forefathers thought that we are different from the Hindus in every aspect of life… our religions, our customs, traditions, thoughts and ambitions are different.”

The two-nation theory, championed by Muhammad Ali Jinnah, has long been a source of ideological division between India and Pakistan. It directly opposes the vision of a united India based on secular values and shared heritage.

Assertion on Kashmir and national identity

Referring to the ongoing dispute over Kashmir, General Munir said, “It was our jugular vein, it will be our jugular vein, we will not forget it.” He further added, “We will not leave our Kashmiri brothers in their heroic struggle,” framing the Kashmir issue as central to Pakistan’s national narrative and identity.

In a broader nationalist tone, General Munir urged Pakistanis to keep narrating the country’s creation story to future generations to maintain a strong bond with the nation.

Stance on terrorism and Balochistan separatism

Touching upon concerns related to terrorism and investment, the Pakistan Army chief dismissed doubts about the country’s stability, stating, “The 1.3 million-strong Indian Army, with all its wherewithal, if they cannot intimidate us, do you think these terrorists can subdue the armed forces of Pakistan?”

On the issue of Balochistan, where separatist movements have long challenged the central authority, Munir declared the province to be “Pakistan’s pride” and warned against any illusions of secession. “You won’t be able to take it in 10 generations,” he said, pledging that the military will decisively counter separatist groups.

Implications for India-Pakistan relations

The Indian Ministry of External Affairs is yet to issue an official response, but given the sharply worded statements, diplomatic engagement or condemnation is anticipated. General Munir’s comments underscore the enduring friction between the two nations and reinforce the Pakistan Army’s dominant role in shaping Islamabad’s foreign and domestic policies.

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China halts Boeing jet deliveries amid trade war with US

This halt in Boeing deliveries could have significant repercussions for both China’s aviation industry and the American aerospace sector.

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In a significant escalation of trade tensions between China and the United States, Beijing has directed its airlines to stop receiving aircraft from American aerospace manufacturer Boeing, according to a report released on Tuesday.

Additionally, Chinese authorities have ordered their carriers to cease purchasing aircraft-related equipment and components from U.S. companies.

This development, initially reported by Bloomberg News, comes amid rising tensions in the ongoing trade conflict between Washington and Beijing, which began following the introduction of “reciprocal tariffs” under former President Donald Trump.

Since Trump took office in January, the two largest economies in the world have engaged in a reciprocal trade war, with the U.S. imposing tariffs as high as 145 percent on certain Chinese imports.

In retaliation, Beijing has described Washington’s actions as illegal “bullying” and has implemented counter-tariffs of 125 percent on American goods, claiming that further tax increases would be futile.

The recent Chinese government order to suspend Boeing deliveries, affecting both state-owned and private airlines, is interpreted as part of China’s broader strategy to address the U.S. tariffs.

This halt in Boeing deliveries could have significant repercussions for both China’s aviation industry and the American aerospace sector.

On the same day, China emphasized its commitment to forging stronger trade relationships, with the foreign ministry stating its preference for cooperation over conflict. Lin Jian, a spokesperson for the foreign ministry, remarked during a briefing that China aims to “tear down walls” and foster connections instead of creating barriers.

Meanwhile, the World Trade Organization has cautioned that the intense trade dispute between the two nations could lead to an 80% reduction in goods shipments between them and could severely impact global economic growth.

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Barack Obama backs Harvard University after Trump freezes $2.3 billion funding, says attempt to stifle academic freedom

The demands also called for banning face coverings—viewed as targeting pro-Palestinian protesters—and dismantling the university’s diversity, equity, and inclusion (DEI) programs, which the government criticized as fostering “simplistic racial stereotypes.”

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Former United States President Barack Obama on Tuesday lauded Harvard University for resisting the Trump administration’s decision to withhold $2.3 billion in federal funding after the institution rejected a series of White House demands. Calling Harvard’s stance a beacon for other colleges, Obama praised its commitment to academic freedom amid intensifying political pressure.

Harvard President Alan Garber firmly rebuffed the administration’s conditions, which included overhauling admissions to prioritize “merit-based” criteria, curbing student activism, auditing diversity initiatives, and derecognizing certain student groups. The demands also called for banning face coverings—viewed as targeting pro-Palestinian protesters—and dismantling the university’s diversity, equity, and inclusion (DEI) programs, which the government criticized as fostering “simplistic racial stereotypes.”

“Harvard’s rejection of this heavy-handed attempt to undermine academic freedom sets a powerful example for higher education,” Obama wrote on X, commending the university for fostering “intellectual rigor, open debate, and mutual respect.”

The clash escalated after the Department of Education’s antisemitism task force accused Harvard of neglecting civil rights laws and fostering an “entitlement mindset” while failing to protect Jewish students amid campus disruptions.

The White House argued that elite universities, flush with federal funds, have tolerated unrest tied to pro-Palestinian protests since Israel’s war in Gaza began, with some demonstrations accused of endorsing Hamas—a group the US labels a terrorist organization following its October 7 attack on Israel.

Garber, in a defiant open letter, declared, “No government, regardless of party, has the right to dictate what private universities teach, who they admit or hire, or what research they pursue.” Hours later, the Trump administration froze $2.3 billion in funding, marking a dramatic escalation in its campaign to reshape higher education.

Harvard’s stand makes it the first major US university to openly challenge such federal directives, which also urged cooperation with immigration authorities and the withdrawal of support for student groups linked to violence or harassment. The university’s endowment, valued at over $50 billion, may cushion the financial blow, but the standoff signals deeper tensions over campus autonomy.

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