Astral Holidays, one of the largest tour operators in Bulgaria, has announced that it is starting bankruptcy proceedings. This was reported by the agency on its official website.

The company is the Bulgarian partner of the failed British tourist operator Thomas Cook.

The Agency assures that it has taken all measures to protect its clients.

All Thomas Cook subsidiaries in three European countries - Germany, Austria and Poland - have declared bankruptcy.

“With great regret and disappointment, we would like to inform you that we have to cease operations and start bankruptcy proceedings of Astral Holidays International AD on October 7, 2019 after almost 24 years of presence on the tourist market and despite the incredible efforts of management and employees.

This decision was made after a great deal of discussion, effort and attempt to secure financing for the company. The reasons to get here are complex, but what we are left with are the memories, the incredible moments when you were happy and when we were the reason for your good mood and good rest. Over the years, we have always strived to achieve the highest quality of our services and to provide maximum comfort to our customers, as well as unforgettable experiences.

We assure you that the management of Astral Holidays International AD has taken all necessary measures and fulfilled all its obligations under the Law on Tourism to protect you, its customers. Astral Holidays International maintains a valid Tour Oprator's Liability Insurance so that where our extraordinary efforts are not enough, we can be supported by our partners Unica Insurance Company.

The trips of all clients who have purchased holidays from Astral Holidays International AD, which are currently abroad, are fully paid, so there is no danger of problems with flights or the refusal of accommodation in hotels or other tourist services.

Astral Holidays International will not be able to carry out future planned trips for some of its clients after 07.10.2019.” the company said in a statement.