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

x

Check Also

wow air, Russia, refuse, overflight, allow, asia, icelandair, Iceland, deny, charge

Russia denies attempt to block Iceland flights

The Russian Ministry of Transport has denied reports it tried to block use of Russian airspace for flights to Asia.

SAS, coffin, casket Gdansk, Poland, Kristiansand, Tromso, flight, wrong, cargo

Wrong coffin sent to Gdansk: SAS investigates

The casket containing the body of a Norwegian man was flown to Poland by mistake – and buried.

BRA, sundsvall, Gothenburg, goteborg, Brmma, Stockholm, Sweden, flights, routes, airline, NextJet, bankrupt, take over

BRA eyes more NextJet routes

Braathens Regional Airlines says it is in “intensive planning” to start two more routes in Sweden.

SAS, LOT, Heathrow, London, noise, aircraft, descent, MAX, Boeing, Continuous Descent Approaches, list, greenest, quietest

SAS is “quietest and greenest” at Heathrow

The airlines SAS and LOT have been singled out for praise by one of the busiest airports in the world.

Primera Air, delay, postpone, flights, cancel, delivery, Airbus, A321, charter, transatlantic, Birmingham, New York, London, Stansted, Boston, Toronto

Late Airbus delivery forces Primera to axe flights

The low-cost carrier is forced to postpone new transatlantic routes being launched from the UK.

SilkAir, SIA, low-cost, Asia, flights, airlines, routes, singapore airlines, merge, cabin, upgrade, lie-flat, business class, results, profit

SIA to upgrade – then merge with – SilkAir

The revelation comes a day after strong full-year results exposed SilkAir as a weak spot.