Thomas Cook needs GBP 200 million more to survive

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Thomas Cook says this Friday on its website that it needs extra financial resources to secure an emergency rescue deal. The company says it needs another 200 million pounds for the coming winter season (when tour operators traditionally have less cash flow) before a crucial meeting next Friday after a last-minute demand from its lenders

That amount is in addition to the 900 million pounds package that the company announced late last month and which is about to be finalised.

If the company cannot secure the extra funding, it risks going bust. The Civil Aviation Authority would then be forced to pick up the estimated 600 million pounds cost of bringing home 150,000 Britons on the UK’s biggest repatriation operation of all times.

3 COMMENTS

  1. I have booked two package holidays with Thomas Cook for next year, if they go bust, will I receive my money back if both holidays are cancelled and when? I’m a pensioner, I can’t afford to lose all that money. I really hope that Thomas Cook recovers from this slump and can be in operation again, good luck.

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