Fall of Thomas Cook creates 'tsunami' of losses for tourist resorts

, industry professionals were agonizing over the huge sum in unpaid bills.

And Italy's Confindustria Alberghi, one of the organizations representing the hotel industry, said the collapse of Thomas Cook could have a"very heavy" impact on the tourism sector. In Tunisia, the hotel federation said the collapse of Thomas Cook had left it with"65 to 70 million euros" in unpaid bills.

In the Canary Islands, 1 in 4 holidaymakers were flown in by the package holiday specialist, the local hotel federation said. "The collapse of Thomas Cook is having a domino effect on suppliers, tourist buses, car hire companies, etc," said Michalis Vlatakis, who heads Crete's tourist agencies association.Individual businesses also had their own concerns.

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London repatriates 10% of Thomas Cook's UK customersBritain's Civil Aviation Authority is managing its biggest repatriation since World War II, following the bankruptcy of travel giant Thomas Cook.
Source: rapplerdotcom - 🏆 4. / 86 Read more »