Thomas Cook Group
Greek tourism set to grow despite Thomas Cook collapse
Tourism, which accounts for about a quarter of Greece's gross domestic product, will grow in 2020 despite the blow dealt to the sector last year by the collapse of British travel giant Thomas Cook, Tourism Minister Haris Theocharis said on Thursday.
One of the Largest Tour Operators in Bulgaria Declared Bankruptcy
Astral Holidays, one of the largest tour operators in Bulgaria, has announced that it is starting bankruptcy proceedings. This was reported by the agency on its official website.
The company is the Bulgarian partner of the failed British tourist operator Thomas Cook.
The Agency assures that it has taken all measures to protect its clients.
Losses from Thomas Cook at 2.5 bln euros by 2020
The cost to the entire Greek economy of UK tour operator Thomas Cook's collapse will come to some 2.5 billion euros, or about 1.4 percent of the country's gross domestic product, according to a study by the Hellenic Chamber of Hotels.
The sum of 2.5 billion is made up of the following:
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Thomas Cook Belgium, Netherlands announce bankruptcy
U.K.-based global travel group Thomas Cook's Belgium and Netherlands subsidiaries on Sept. 30 announced their bankruptcy.
Half a Billion Euros in Damage to Greece From the Bankruptcy of Thomas Cook
About half a billion euros have been lost to Greek tourism by the bankruptcy of British tourism company Thomas Cook, Kathimerini reports, citing an interview with Greek Tourism Minister.
He announced new measures by the government to soften the effects on the industry, according to BGNES.
The Bankruptcy of Thomas Cook May Cost the Greek Tourism Half a Billion Euros
The Greek tourism lost аbout half a billion euros from the bankruptcy of the British tourism company Thomas Cook, Kathimerini reports, citing an interview with Greek Tourism Minister Haris Theoharis at ANA-MPA.
He announced new measures by the government to mitigate the effects on the industry.
Tui prepared to cover the void left by Thomas Cook
German tour operator Tui AG is signing new, long-term contracts with Greek hoteliers who were not previously in its portfolio, in a bid to expand further in Greece after the collapse of rival British company Thomas Cook.
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Tui jumps in to fill Thomas Cook's gap
As the latest estimates regarding just how hard Greek hotels have been hit by the collapse of UK travel giant Thomas Cook are pointing to unpaid invoices of some 230 million euros, and the government is assessing its options in terms of response measures, the now-dominant European tour operator, Tui AG, is sending one of its big bosses to Greece.
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Serious threat
The consequences arising from the collapse of British tour operator Thomas Cook cannot be easily tackled. However, the clock is ticking and the insecurity felt by the Greek tourism industry - both for businesses and employees - is deepening.
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58 Bulgarian Hotels Have Contracts with Thomas Cook
In connection with the announcement of the bankruptcy of the Thomas Cook tour operator subsidiaries, the Ministry of Tourism has created an expert group for emergency work and a 24-hour hotline. This was announced at an extraordinary press conference by the Minister of Tourism Nikolina Angelkova, quoted by the BNR.