Tour company Thomas Cook ceases trading, bookings canceled

Tour company Thomas Cook ceases trading, bookings canceled
FILE - In this May 19, 2016 file photo, a Thomas Cook plane takes off in England. More than 600,000 vacationers who booked through tour operator Thomas Cook were on edge Sunday, wondering if they will be able to get home, as one of the world's oldest and biggest travel companies teetered on the edge of collapse. The debt-laden company, which confirmed Friday it was seeking 200 million pounds ($250 million) in funding to avoid going bust, was in talks with shareholders and creditors to stave off failure. (Tim Goode/PA via AP, file)

LONDON (AP) — British tour operator Thomas Cook has ceased trading and all its hundreds of thousands of bookings canceled after the firm failed to secure rescue funding.

The Civil Aviation Authority announced the film’s collapse early Monday. More than 600,000 vacationers had booked through the company.

CAA said 150,000 are British customers now abroad who will have to be repatriated.

The group’s four airlines will be grounded and its 21,000 employees in 16 countries, including 9,000 in the UK, will be left unemployed.

The debt-laden company had said Friday it was seeking 200 million pounds ($250 million) to avoid going bust, was in talks with shareholders and creditors to stave off failure.