The world’s oldest travel company, Thomas Cook, has ceased trading after failing to obtain £200m of extra funding. The news puts 9,000 jobs at risk in the UK, and leaves 150,000 Thomas Cook customers potentially stranded overseas. The Prime Minister Boris Johnson confirmed the Government refused to step in to rescue the company, saying such a move would create a “moral hazard”. Shadow chancellor John McDonnell said the government should have made a “financial intervention” to give the situation “some breathing space”.
