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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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India closely monitoring situation in Iran, urges nationals to leave

India has advised its citizens in Iran to leave the country as authorities closely monitor the deteriorating security situation, with nearly 9,000 Indians currently residing there.

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The Indian government on Friday said it is closely monitoring the evolving security situation in Iran and has advised Indian nationals currently in the country to leave using available means. The Ministry of External Affairs (MEA) stressed that ensuring the safety and well-being of Indian citizens remains a priority.

Speaking during the weekly media briefing in New Delhi, MEA spokesperson Randhir Jaiswal said approximately 9,000 Indians are presently residing in Iran, with students forming the majority of the community. He said the government has issued multiple advisories in response to recent developments.

“In light of the situation, we have advised Indian citizens in India not to travel to Iran at this time, and those currently residing there have been asked to leave the country by whatever means are available,” Jaiswal said.

The spokesperson added that the government is maintaining close vigilance over developments and is prepared to take necessary steps for the welfare of Indian nationals.

Embassy advisories and travel warnings

The Indian Embassy in Tehran has issued an advisory asking Indian citizens — including students, businesspersons, pilgrims and tourists — to depart Iran through available transport options, including commercial flights, citing the evolving security environment.

Separately, the MEA reiterated its advisory urging Indians to avoid travel to Iran until further notice. It also recalled an earlier warning issued on January 5, advising Indian nationals in Iran to remain cautious and refrain from participating in protests or demonstrations.

Indian citizens in Iran have been asked to keep essential travel and identification documents, including passports, readily accessible. Those living in the country on resident visas have also been advised to register with the Indian Embassy.

Protests and regional tensions

The advisories come against the backdrop of nationwide protests in Iran, which began at Tehran’s Grand Bazaar in late December following a sharp fall in the Iranian rial. The demonstrations later spread across the country amid mounting economic challenges, including inflation, unemployment, power outages and water shortages.

Regional tensions have also risen amid international warnings of possible military action if the situation escalates further. These developments have prompted several countries, including India, to review travel advisories and safety measures for their citizens in Iran.

India has maintained long-standing ties with Iran, though officials have indicated that recent international trade-related announcements linked to Tehran are expected to have a limited impact, given the relatively small share of bilateral trade in India’s overall commerce.

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Trump calls it a wonderful gesture as Machado presents him Nobel Peace Prize medal

Donald Trump described it as a “wonderful gesture” after Venezuela’s opposition leader Maria Corina Machado presented him with her Nobel Peace Prize medal during a White House meeting.

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US President Donald Trump has described it as a “wonderful gesture” after Venezuela’s opposition leader Maria Corina Machado presented him with her Nobel Peace Prize medal during a meeting at the White House.

Trump praised Machado publicly after the interaction, saying she had been through “so much” and that the act reflected “mutual respect.” He said the medal was given to him for the work he has done, according to his post on his social media platform.

The gesture, however, has drawn attention as the Nobel Institute has clarified that a Nobel Peace Prize cannot be transferred to another individual.

Nobel Institute rules out transfer of prize

The Nobel Institute has stated that Machado is not permitted to give her Nobel Peace Prize to Trump. Despite this, a White House official confirmed that Trump intends to keep the medal, even if the act remains symbolic.

Trump has long expressed interest in the Nobel Peace Prize, making the episode particularly notable despite the formal limitations placed on such honours.

Political context behind the meeting

Machado had been widely regarded as Venezuela’s democratic leader-in-waiting before Trump’s recent policy decisions regarding the country. Earlier this month, Trump declined to fully back her challenge to Venezuela’s ruling regime and instead signalled openness to engaging with leaders linked to the existing power structure.

Trump has publicly questioned Machado’s ability to lead, saying she lacks sufficient support and respect within Venezuela. Her political party is believed to have won the 2024 elections, results that were rejected by President Nicolas Maduro.

Trump has also indicated a willingness to work with acting President Delcy Rodriguez, who previously served as Maduro’s deputy.

What Machado said after the meeting

Speaking to reporters after leaving the White House and heading to Capitol Hill, Machado said she presented the medal to the US president as recognition of his “unique commitment” to Venezuela’s freedom.

She added that Trump did not provide detailed assurances during their closed-door discussion, including on the issue of elections in Venezuela. No further specifics of the meeting were disclosed.

Afterwards, Machado greeted supporters gathered near the White House gates, hugging several of them. Addressing the crowd, she said they could count on President Trump, prompting brief chants of appreciation from those present.

Machado’s recent public appearance

Before her visit to Washington, Machado had largely stayed out of public view since travelling to Norway last month, where her daughter accepted the Nobel Peace Prize on her behalf. She had spent nearly a year in hiding in Venezuela before appearing at the ceremony.

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US freezes immigrant visa processing for 75 countries, India not in list

The United States suspends immigrant visa processing for 75 countries, excluding temporary visas, as part of stricter immigration measures.

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The United States has indefinitely suspended immigrant visa processing for 75 countries, targeting individuals seeking permanent residency based on nationality. The move, set to take effect on January 21, excludes tourist and temporary work visas, but is expected to have a significant impact on family-based immigration.

Reasons behind the visa freeze

The US State Department said the suspension aims to prevent the entry of foreign nationals likely to require government welfare and public benefits. “The Trump administration is bringing an end to the abuse of America’s immigration system by those who would extract wealth from the American people,” said State Department spokesman Tommy Pigott.

While the administration cites the risk of immigrants draining government resources, studies by the Cato Institute and other research groups suggest immigrants generally use fewer benefits than US-born citizens.

Who will not be affected

Temporary visas for tourists, business travelers, and sports fans remain unaffected. Exceptions are also allowed for individuals with dual nationality, a valid passport from a country not on the list, or travel serving an “America First” national interest. Approved visas that have not yet been printed must be refused according to the State Department.

Countries affected

The visa freeze covers nations across Africa, Asia, Latin America, the Middle East, and Eastern Europe. Some of the most affected countries include Pakistan, Bangladesh, Somalia, Russia, Iran, Afghanistan, Brazil, Nigeria, and Thailand.

Other countries on the full list include Albania, Algeria, Armenia, Azerbaijan, Bahamas, Barbados, Belarus, Belize, Bhutan, Bosnia and Herzegovina, Myanmar, Cambodia, Cameroon, Cape Verde, Colombia, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Dominica, Egypt, Eritrea, Ethiopia, Fiji, The Gambia, Georgia, Ghana, Grenada, Guatemala, Guinea, Haiti, Iraq, Jamaica, Jordan, Kazakhstan, Kosovo, Kuwait, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, North Macedonia, Moldova, Mongolia, Montenegro, Morocco, Nepal, Nicaragua, Republic of the Congo, Rwanda, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Senegal, Sierra Leone, South Sudan, Sudan, Syria, Tanzania, Togo, Tunisia, Uganda, Uruguay, Uzbekistan, and Yemen.

Trump administration immigration record

The Trump administration has already imposed stricter vetting procedures over the past year, revoking over 100,000 visas and deporting more than 605,000 people, with 2.5 million others leaving voluntarily. Critics highlight that the policy disproportionately affects immigrants from non-European countries.

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