Thomas Cook news - live: 150,000 British holidaymakers wait for repatriation after Boris Johnson refuses to bail collapsed firm out
Thomas Cook, the package holiday giant, has collapsed after last-ditch attempts to save the company failed.
The UK Civil Aviation Authority (CAA) said the tour operator has “ceased trading with immediate effect”, putting more than 20,000 jobs at risk worldwide and triggering the biggest ever peacetime repatriation.
More than 150,000 British holidaymakers need to be brought home, with the government and CAA hiring dozens of charter planes to fly customers home free of charge.
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Boris Johnson admitted he had refused the company's request for a £150m rescue package, insisting that doing so would create a "moral hazard".
