An emergency coalition of some of Europe’s biggest airlines, including British Airways and Virgin Atlantic, is on high alert to rescue Thomas Cook customers if the tour operator cannot be saved from collapse within 24 hours.
The Sunday Telegraph understands that the Civil Aviation Authority has held detailed conversations with a group of five airlines, which also includes easyJet, German travel operator Tui and package holiday firm Jet2.
Thomas Cook is expected to collapse into administration within hours after this weekend failing to secure a £200m rescue cash injection
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