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Thomas Cook's German unit gets loan, Polish one goes bust

WARSAW, Poland (AP) — The German unit of collapsed tour operator Thomas Cook has been promised rescue loans from the government there, though the Polish one has confirmed it is going bust. German airline Condor says it has been promised 380 million euros ($419 million) from the German government and the state of Hesse to meet its cash needs for six months.

The airline says it's profitable but needs ready cash to operate over the winter. In Poland, Thomas Cook's unit, Neckermann Polska, said Wednesday it is filing for bankruptcy. The announcement by the company's president Maciej Nykiel came with about 3,600 people who booked vacations with the company outside of Poland.

Thomas Cook, the world's oldest travel company, ceased all operations Monday, leaving hundreds of thousands stranded around the world.

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