(Video) Rajya Sabha TV (RSTV) In Depth: World's Oldest Travel and Tour Firm Thomas Cook Collapsed

Topic: World's Oldest Travel and Tour Firm Thomas Cook Collapsed

Topic Description:

The world's oldest travel and tour firm, Thomas Cook has collapsed. In a statement released on Monday, the British company said it had no choice but to take the drastic step to enter into compulsory liquidation with immediate effect. The move has left thousands of holidaymakers around the globe stranded, sparking the largest peacetime repatriation effort in British history. The 178-year-old firm also ran hotels, resorts and airlines for 19 million people a year in 16 countries.Currently, it has 600,000 people abroad, forcing governments and insurance companies to coordinate a huge rescue operation. Today in IN DEPTH we analyse what led to the collapse of Thomas Cook and what impact it will have worldwide.