Spain launches US$330 million plan after Thomas Cook collapse
British passengers wait for news on cancelled Thomas Cook flights at Palma de Mallorca airport on Sept. 23, 2019. (Francisco Ubilla / AP)
MADRID -- The Spanish government says it has planned measures amounting to 300 million euros (US$329 million) to deal with the fallout of the collapse of British tour operator Thomas Cook.
Caretaker Tourism Minister Reyes Maroto says the scheme will include a 200-milion-euro credit line for affected businesses, stimulus for job creation and a discount in airfares to the two Spanish archipelagos most affected by the crisis.
Spain's Cabinet will approve an urgent decree with the measures on Oct. 11, Maroto told reporters on Thursday.
She says the Canary Islands off Africa's northwestern coast are expected to lose 400,000 tourists this winter while the Balearic Islands, east of the Iberian Peninsula, will see 300,000 fewer visitors.
The government says 3,400 jobs depending directly on contracts with Thomas Cook are at risk.