Gloria Guevara at the breakfast meeting in Madrid. | Europa Press

Gloria Guevera, the president of the World Travel & Tourism Council, said in Madrid yesterday that an American company is interested in recruiting thousands of employees affected by the collapse of Thomas Cook.

At a breakfast organised by the Madrid Hoteliers Association, Guevera didn't reveal the name of the company but explained that it is a "very large" American company which has some 55,000 personnel in the UK as well as offices (travel agencies, it would appear); it isn't a tour operator. The company is said to have expansion plans and is willing to invest. Recruitment would apparently be in other countries, e.g. Spain, and not just the UK.

Commenting on the Thomas Cook collapse, Guevera believed that this was the result of internal issues regarding the flow of capital and of a combination of factors, such as political uncertainty and Brexit. "The mother of all crises is political instability. It is worse than a terrorist attack and other types of crisis." She was confident, however, that there will be a "rearrangement" of jobs and that the tourism sector will continue to grow.