More than 1,500 jobs have been lost in the Balearics with the collapse of the Anglo-German tour firm, Thomas Cook, the Balearic government said this morning.
There is also concern over the amount of money which is left owing to Majorcan hoteliers by the travel giant. The local government said that it was a very "grave situation."
Meanwhile, at Palma airport officials from the British government are co-ordinating a massive repatriation operation to bring thousands of stranded Thomas Cook passengers home.