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See BBC report:
A real shame... such an iconic and historical company.
I'd love to know what caused their demise - they seemed to be breaking even the last 5 years, then suddenly swung to a 1.5bn loss in the first half of this year!
The airline itself was making a profit but the holiday side of the business was where the problems were. I wouldn't be surprised if the administrators sold the airline on as a going concern given it's profitability as long as a decent offer is received however I would imagine it would be renamed either to distance the airline from the stigma of the Thomas Cook name (people who lost holiday would probably not book with them again) or because the company buying them from the administrators is an existing brand and wants their name on the plane's.
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