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Thomas Cook Saved!!

Wales, United...
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2,891 posts
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Thomas Cook Saved!!

this may help people who had concerns over this company

'The debt-ridden tour operator Thomas Cook has secured its future with a £1.4billion bank loan.

Yesterday Thomas Cook announced the deal with 17 lenders, including Barclays and RBS, which will come a a huge relief for millions of holidaymakers who were worried about their bookings.

The Sun reports that the company ended up £890million in debt last year.

The loan, which has been expanded from a £200million deal granted in November, gives the company three years to get back into shape.

A huge restructuring is planned and a permanent new chief executive could be announced in days.

Acting Chief Executive Officer Sam Weihagan said: "This announcement highlights the confidence our lenders have in Cook's."

North Wales uk
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1. Re: Thomas Cook Saved!!

Thanks for the info....must admit I was slightly worried.

Dewsbury, United...
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1,709 posts
17 reviews
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2. Re: Thomas Cook Saved!!

Not exactly saved unless business turns around..banks wont fund a dead duck forever.

Scotland
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132 posts
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3. Re: Thomas Cook Saved!!

Heck of a loan for an already struggling company to service though.

Leeds
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1,079 posts
1 review
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4. Re: Thomas Cook Saved!!

I doubt it.! He'd be nearly 300 years old if he was alive today. Still would make a nice story though.

Wales, United...
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2,891 posts
28 reviews
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5. Re: Thomas Cook Saved!!

NGM1 - I agree it's bad enough trying to make a profit without shelling out for loans as well.

Lanarkshire
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46 posts
3 reviews
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6. Re: Thomas Cook Saved!!

Good News as I am travelling with Thomas Cook in the summer.

Message for those travelling from Glasgow on the 4th July. Thomas Cook have changed the flights and you now have to travel via Manchester. You may have received an e-mail from TC but the detail was buried.

The flight leaves 3 hours earlier so I am pretty sure that some poor family will miss out on their holiday of a lifetime because Thomas Cook don't want to publicise a negative change in their schedule.

If you know anyone that is going from Glasgow on 4th July make sure that they know their flight leaves at 7.00am

Dewsbury, United...
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1,709 posts
17 reviews
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7. Re: Thomas Cook Saved!!

The Manchester/Glasgow situation happens all the time during June/July...They seem to do it whenever they fancy it.

Lanarkshire
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46 posts
3 reviews
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8. Re: Thomas Cook Saved!!

They obviously are struggling financially so you cannot complain if they change to fill flights, but they should be open about it as it could have serious consequences for some poor families that don't see the change

9. Re: Thomas Cook Saved!!

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Removed on: 22 June 2013, 22:17