A passenger walks past a closed Thomas Cook office at Palma de Mallorca airport on Monday, Sept. 23, 2019. Spain's airport operator AENA says that 46 flights have been affected by the collapse of the British tour company Thomas Cook, mostly in the Spanish Balearic and Canary archipelagos. (AP Photo/Francisco Ubilla)

Thomas Cook's German unit gets loan, Polish one goes bust

September 25, 2019 - 5:10 am

WARSAW, Poland (AP) — The German unit of collapsed tour operator Thomas Cook has been promised rescue loans from the government there, though the Polish one has confirmed it is going bust.

German airline Condor says it has been promised 380 million euros ($419 million) from the German government and the state of Hesse to meet its cash needs for six months.

The airline says it's profitable but needs ready cash to operate over the winter.

In Poland, Thomas Cook's unit, Neckermann Polska, said Wednesday it is filing for bankruptcy.

The announcement by the company's president Maciej Nykiel came with about 3,600 people who booked vacations with the company outside of Poland.

Thomas Cook, the world's oldest travel company, ceased all operations Monday, leaving hundreds of thousands stranded around the world.

AP Editorial Categories: 
Comments ()