British tour operator Thomas Cook could fall into administration this weekend, potentially stranding hundreds of thousands of travelers.
Without this injection, the company could collapse over the weekend.
On Twitter, the company was telling concerned customers that “media speculation” was unsettling, but that flights and operations were still running as normal.
Thomas Cook confirmed to CNN that it currently has 600,000 customers on vacation, including 160,000 from the UK. A collapse of the company could leave many people stranded.
James and Rebecca Hyam, from Lichfield, England, are currently on their honeymoon in Cancun, Mexico. They are due to fly back to Manchester with Thomas Cook Monday evening.
Speaking to CNN, James Hyam said: “There are quite a few of us here with Thomas Cook at the hotel where we are staying. Everyone is quite concerned.”
He added that the uncertainty over Thomas Cook’s future had “transformed a nice, relaxing honeymoon holiday to a Twitter frenzy trying to find out what happens next.”
Lisa Forbes, the Member of Parliament for Peterborough, where Thomas Cook is based, told CNN that the government should intervene: “It would save the taxpayer money, save thousands of jobs and an iconic British business if the government showed leadership on this issue and demanded the banks support Thomas Cook instead of pushing them towards a cliff edge.”
She added: “RBS and Lloyds, who were bailed out by the taxpayer, are demanding an extra £200 million. RBS is still 62% owned by the government. Meanwhile, the cost of repatriation could mount to around £600 million ($750 million).”
The UK’s Civil Aviation Authority confirmed to CNN that it had a repatriation plan, Operation Matterhorn, on standby with a projected cost of $750 million.
Asked for comment by CNN, a Department for Transport spokesperson said: “We do not speculate on the financial situation of individual businesses.”
Established 178 years ago, Thomas Cook is one of Europe’s biggest tour operators.
The announcement by RBS is the latest blow in an agonizing 12 months for the company. Since May 2018, shares have fallen by more than 96%. The group has blamed a fall in sales due to uncertainty over Brexit, the knock-on effect of a hot summer in 2018, and intense competition in the tourism sector.