The official administration according to our sources will take place at 2am GMT when all flights have taken off and the largest number of planes have grounded.
Flight operations will then be ceased.
The UK Civil Aviation Authority has given go ahead to position UK for rescue flights which will take up to 2 weeks to take 150,000 passengers back to the UK.
British Government tonight have ordered staff to commence Operation Matterhorn having already chartered dozens of aircraft to be deployed.
This will see the largest repatriation since world war 2.
The last flight of Thomas Cook looks likely to be MT2641 landing at Manchester from Las Vegas. The plane is currently over Nebraska as we update.
The group operates a fleet of 85 Airbus jets and 31 Boeing jets 1116 jets in total.
As these planes land tonight our exclusive sources to the Euro Weekly News in the aviation business say it is highly likely administration will commence by KPMG appointed administrators.
9,000 staff will lose their jobs with immediate effect.