Thomas Cook secures increased bank loan

Operator now has “increased headroom to deal with unexpected events”

Late on Friday evening, Thomas Cook Group issued a statement that it had managed to secure the loan of more than €200 million that it was seeking from its banks. The new loan replaces an earlier one that was about half the size announced in October. The statement also thanked its partners, suppliers and customers for their support over the last week.
Thomas Cook said that the loan gives the operator “much increased headroom to deal with unexpected events and the effects of an uncertain economic environment.” It added: “For over 170 years Thomas Cook has provided customers across the world with fantastic travel experiences. Today they can look forward confidently to holidays with us for many years to come.” It will announce preliminary results for the year ending 30 September in about two weeks’ time.
TravelMole

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