As of around 2am this morning, budget airline and holiday company Thomas Cook has folded, leaving some 150,000 British holidaymakers abroad.
Last minute talks to save the company last night proved to be in vein, as the company could not be rescued, in what the CEO Peter Fankhauser expressed was a "matter of profound regret". All flights and holidays with the company have been cancelled, and the government has called on the Civil Aviation Authority to assist with helping those left abroad to make a safe return.
Reaction to this news has, as expected, been one of outrage. Many of those stuck abroad will have to rely on other airlines to come back, and those who had made it to the airport to travel this morning will have to turn around and go home. Many have compared the fall of Thomas Cook to that of Monarch almost two years ago, which also came to a sudden halt disrupting the travel plans of 860,000 people.
Read the latest on what is going on here.