Thomas Cook customers begin flying home bbc.com

The tour firm's failure means more than 150,000 British tourists will need to be brought back. The UK's Civil Aviation Authority (CAA) is co-ordinating the repatriation, the biggest in peacetime, after the tour operator "ceased trading with immediate effect".

Thomas Cook's administration puts 22,000 jobs at risk worldwide, including 9,000 in the UK.

Boss Peter Fankhauser said the collapse was a "matter of profound regret".

Thomas Cook, whose roots go back to 1841, went bust after last-ditch talks to raise fresh funding failed. The BBC understands the government was asked to fund a bailout of £250m, which was denied.