Thomas Cook

Thomas Cook is returning to European hands, as its Chinese owner has agreed to sell it to a Polish group, five years after its bankruptcy.

The tourism industry in Türkiye's popular holiday destination Antalya is facing risks from the bankruptcy of the German tour operator FTI.

Earlier this week, FTI, Europe's third-largest tour operator, filed for insolvency in a court in Germany.

It said on June 3 trips that haven't yet started will be canceled or scaled back.

Britain yesterday unveiled long-awaited reforms to the country's corporate reporting and audit regime via a new regulator after a swathe of recent high-profile bankruptcies - but the revamp is a watered-down version of an originally mooted shake-up.    

Britons eager to travel amid promising vaccination efforts against the coronavirus are expected to visit one of their favorite destinations - Turkey. 

"Last year, Turkey's tourism sector saw a fall in tourist demand from the EU, but the UK remained out of this picture," Firuz Bağlıkaya, the head of the Association of Turkish Travel Agencies (TÜRSAB), said Monday.

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.

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.

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:

U.K.-based Turkish tour operators have raised concerns over British global travel group Thomas Cook's collapse and are seeking urgent help from the Turkish government to avoid losing their market share.

U.K.-based global travel group Thomas Cook's Belgium and Netherlands subsidiaries on Sept. 30 announced their bankruptcy. 

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.