New Delhi: Thomas Cook, known as the world's oldest travel company, has gone bankrupt. The company, which has been facing a shortage of funds, has closed its business. The company did not get any bailout package from the government and private sector due to which it took this decision. The bankruptcy of this 178-year-old UK travel company will not affect Thomas Cook India. The bankruptcy of Thomas Cook will not affect India because the Thomas Cook India group is a separate entity altogether. In 2012, Fairfax Financial Holdings took a stake in Thomas Cook India.

Thomas cook India later owned Fairfax. Fairfax is a Canada-based multinational investment company. Thomas Cook India has also said in a statement that after buying 77% shares in Thomas Cook India Limited (TCIL) by Fairfax Financial Holdings in 2012, it has continued to grow successfully as an independent entity for the last seven years. Thomas Cook India made it clear on Saturday last week that it does not belong to the UK-based Thomas Cook plc. The company also insisted that Thomas Cook India was a separate independent entity. After the bankruptcy of the company, a large number of jobs are expected to be affected.

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