Not only did 15,000 passengers in Cyprus lose their flight out after the collapse of Thomas Cook, but the cost to the island’s tourism industry in the short to medium-term will be a hefty 250,000 visitors, close to €200m in revenues and €50m in unpaid bills that are due to hoteliers.
It will also mean a general rise in air fares by other airlines in the short term as was seen with the collapse of a number of companies in recent years.
Deputy minister for tourism Savvas Perdios painted the grim picture after a crisis meeting Monday morning with all...