British Prime Minister Boris Johnson says the government was right not to bail out tour company Thomas Cook, arguing that travel firms should do more to ensure they don't collapse.
The 178-year-old tour operator ceased trading on Monday after failing to secure 200 million pounds in rescue funding.
Johnson said the government would help repatriate 150,000 stranded British travellers.
But, he said bailing out the company would have established "a moral hazard" because other firms might later expect the same treatment.
The liquidation marks the end of one of Britain’s oldest companies that started in 1841 - running local rail excursions before it survived two world wars to pioneer package holidays and mass tourism.
- African News Agency
