Thomas Cook collapse puts 22,000 jobs at risk

Thomas Cook has collapsed putting 22,000 jobs at risk, leaving 150,000 holidaymakers stranded abroad.

The UK Civil Aviation Authority made the announcement at 2am this morning after the company failed to secure the extra £200 million it needed to survive. The firm will now cease trading with immediate effect.

The Chief Executive of Thomas Cook, Peter Fankhauser, said: “Despite huge efforts over a number of months - and further intense negotiations in recent days, we have not been able to secure a deal to save our business.”

He went on to say: “I know this outcome will be devastating to many people and will cause a lot of anxiety and disruption.”

Martin Lewis also joined just to offer advice for viewers who might be affected by the canceled flights.

According to sources, the government has chartered 40 aircrafts to bring the traveling Brits home - but this process could take at least two weeks.

Do you have a flight scheduled with Thomas Cook? Watch the video above to find out what you need to do…

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