Prospects for saving travel giant Thomas Cook are slim, according to sources.
Crucial talks aimed at preventing the holiday giant going out of business were held throughout Sunday amid fears that tens of thousands of holidaymakers will be stranded.
Unions representing Thomas Cook staff have urged the UK’s Government to intervene.
British Foreign Secretary Dominic Raab has assured the firm’s worried customers that contingency planning is in place in the event the business cannot be saved.
Brian Strutton, general secretary of the British Airline Pilots Association, said: “Thomas Cook staff are going through hell as their livelihoods are put on the line; they have no idea if they will wake up tomorrow with a job or not.
“Their dignity in carrying on working for Thomas Cook customers under this pressure is a credit to them.”