BELEAGUERED Thomas Cook sought a state bailout and held survival talks with multiple potential investors.
Bosses also met the Civil Aviation Authority (CAA) — as call centre staff were primed to help with a potential £600million repatriation effort should the firm go bust.
The 178-year-old operator will fold at 11.59pm on Saturday unless £200million extra funding is found.
With the chance of a cash injection receding there was even talk of bringing forward the deadline to Saturday.
Airports indicated they would not allow Thomas Cook planes to take off or land fearing they could end up stuck.
Brits could be stranded for weeks. Some face returning to different cities from where they took offf.
The CAA — responsible for issuing firms with an ATOL licence to operate — started bringing in 400 call centre workers.
'VERY HUSH-HUSH'
Staff provider Teleperformance began offering £10-a-hour jobs starting immediately. A source said: “It’s very hush-hush. Recruits only realised what the job was when they turned up to train.
“A call centre at Newry, Northern Ireland, will be running from 2am Saturday, and a Gateshead base from 7am.”
Up to 21,000 jobs could be lost worldwide if the firm, founded by businessman and ex-preacher Mr Cook, above, in 1841, goes bust.
With the Cook fleet grounded, the CAA would form its own temporary airline.
A senior aviation source said: “At the moment no public funds will be used for the repatriation.
“Money is put aside from the cost of holiday packages to fund such a situation.”
Thomas Cook, which has 550 UK shops, had hoped to seal a rescue led by China’s Fosun. But creditor banks demanded it find an extra £200million.
CRISIS FOR CUSTOMERS
WILL I lose my booking if Thomas Cook collapses?
Anyone buying a package holiday through the firm will be covered by the Air Travel Organiser’s Licence (ATOL).
It means the full cost will be refunded. Most Thomas Cook holidays are packages.
WHAT if I booked flights only?
You won’t be protected by ATOL so will need to claim on your travel insurance. If you paid using a credit card you will likely be protected by Section 75 rules that entitle you to a full refund so long as you did not book through a third-party website.
WHAT if I cancel before any collapse?
Experts warn not to do this. Cancelling usually carries a financial penalty. It would be safer to wait for an ATOL refund.
WHAT about those currently on holiday?
Anyone on a package holiday is protected by the ATOL scheme.
You’ll be able to enjoy your getaway as planned and be flown home at no extra cost.
It is likely the Civil Aviation Authority and Department for Transport will launch a major repatriation mission to get you home.
This could take days or even weeks.
The firm has been struggling with a £1.6billion debt for years. It needs to sell 300million holidays a year to break even.
Expert Frank Ofonagoro, at Quantuma, said Thomas Cook had been outmuscled out by low-cost competitors. Customers have also cut flying habits to go green.
Thomas Cook said talks were ongoing. The CAA said: “We are in regular contact with all large ATOL holders and constantly monitor company performance.”
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