Explainer: How Thomas Cook's collapse will be felt in South Africa

Explainer: How Thomas Cook's collapse will be felt in South Africa

- One of the globe's largest travel operators, Thomas Cook, closed up shop on Monday

- With thousands of tourists stranded, the company has initiated compulsory liquidation

- Briefly.co.za explores how this unfortunate debacle will trickle down to impact South Africans

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Travel behemoth Thomas Cook came to a standstill on Monday when it declared bankrupty in the early hours of the morning.

A look at the company's website confirms that the end has arrived for one of the world's largest travel operators:

“Thomas Cook UK Plc and associated UK entities have entered Compulsory Liquidation and are 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.”

IOL reports that 600 000 tourists have been left stranded after the company simply closed its doors, with stores and fuel producers set to take a massive financial knock.

Briefly.co.za explores how the effects of this situation will be felt in South Africa:

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Thomas Cook used to be one of the most affordable options for citizens seeking to travel to London, but this route is now a thing of the past.

Consumers looking to visit the UK city will be forced to consider more costly options now that the direct route no longer exists.

With unemployment already sky-high, South Africans are now facing job losses. Thomas Cook has numerous call centres and operational offices in the country.

The South African reports that the 180-year-old firm also owns training programmes in Mzansi, which are now set to close down.

Thankfully the massive company breathed its dying breath during the off-season in South Africa, but it remains unknown how many citizens have been left stranded overseas after the debacle.

Millions of pounds are expected to go towards rescue efforts to bring travellers home to their respective countries.

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Source: Briefly.co.za

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