This archive report was first published on 23 September 2019.
On September 23, 2019, Thomas Cook, the world's oldest travel company, announced its collapse, leaving hundreds of thousands of travelers stranded and scrambling to find a way home.
The company's collapse was the result of last-minute negotiations to obtain necessary financing for its debt-ridden business falling apart.
"We are sorry to announce that Thomas Cook has ceased trading with immediate effect," the company said in a post on Twitter.
With debts approaching £2 billion, Thomas Cook was forced to enter negotiations with shareholders and creditors to obtain at least an additional £200 million, which eventually failed.
The UK government announced plans to bring back 150,000 Britons, with an estimated 600,000 people believed to be stranded around the world.
The Civil Aviation Authority chartered 45 jets to get people home, with airlines including easyJet and Virgin providing planes.
Transport Secretary Grant Shapps cautioned that the repatriation effort, known as "Operation Matterhorn," would not be entirely smooth sailing.
Thomas Cook's collapse has set in motion what is being described as the biggest peacetime repatriation in British history.
