UK's CAA plans to repatriate over 16,500 travellers affected by collapse of Thomas Cook

The UK Civil Aviation Authority on Tuesday said it planned to repatriate more than 16,500 travellers who have been affected by the collapse of British tour operator Thomas Cook Group.

"Today, there will be 74 flights bringing back more than 16,500 passengers," the CAA tweeted.

On Monday, the Greece Tourism Ministry said nearly 50,000 tourists were stranded in the country, following the bankruptcy announcement, Sputnik tweeted.

UK travel giant Thomas Cook collapsed under a pile of debt after talks with creditors failed, stranding hundreds of thousands of travellers, but the move will not have any impact on its India operations.

In a statement, the company said its board concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect.

However, Thomas Cook India Ltd (TCIL) said in a statement that it is a completely different entity since August 2012 when it was acquired by Fairfax Financial Holdings, a Canada-based multinational with varied interests across the globe.

Thomas Cook's Chief Executive Peter Fankhauser apologised to customers, employees, suppliers and partners. The collapse spells the demise of what is one of Britain's best-known brands and caps months of talks with its investors led by Fosun Tourism Group.

Thomas Cook scrambled over the weekend to avoid collapse after the Royal Bank of Scotland and other banks demanded that Thomas Cook Group Plc find 200 million pounds in funding by this upcoming week.

The troubled group blamed a series of issues for its problems including political unrest in holiday destinations such as Turkey, last summer's prolonged heatwave and customers delaying booking holidays because of Brexit.