Thomas Cook’s imminent collapse will be devastating for The Gambia tourism sector.

The UK’s oldest travel agent could collapse by Sunday unless it secures the extra £200m in funds needed to secure its future.

The company has around 24 hours to agree a rescue deal before it falls into administration, according to stakeholders including banks such as RBS and Lloyds.

Sources told Sky News that last-ditch plans were being ditched and the company could become insolvent “within hours”.

This could be devastating for The Gambia tourism sector that relies heavily on the steady flow of tourists from the U.K. Around 60,000 Britons visit The Gambia each year. And nearly two thirds of the country’s economy relies on the service industry including tourism.

Thomas Cook is the UK’s biggest holiday operator and the leading travel agent flying British tourists to The Gambia.

Thomas Cook shuttles around 1,500 British tourists to the Gambia every week in the peak winter period which starts in December.

The firm operates several direct flights from London, Birmingham and Manchester to the capital Banjul every week.

Apart from the firm’s all inclusive holiday packages to The Gambia, it also provides cheap flights-only services that benefit The Gambian diaspora in the UK.

Officials of The Gambia tourism ministry and Tourism Board have been contacted for comments.

Founded in 1841, Thomas Cook is one of the world’s largest travel companies.

But it has struggled in recent years under intense competition in popular destinations, high debt levels and an unusually hot summer in 2018 which reduced last-minute overseas bookings.

What if I booked a holiday with Thomas Cook?

People who have booked a holiday with Thomas Cook from the UK will be protected through the Civil Aviation Authority’s (CAA) Air Travel Organiser’s Licence (Atol) scheme. That means they can get refunds on the cost of their holiday.

However, those who have only booked flights with the firm’s airline must contact their debit or credit card provider to try and recover their money.