Heavily indebted British travel company Thomas Cook said on Friday it was in tal...
LONDON - Heavily indebted British travel company Thomas Cook said on Friday it was in talks with its lenders about bolstering its finances, following recent media speculation about the firm’s ability to pay its debts.
The firm, which put its profitable airline business up for sale in February, has endured a tumultuous few days on markets, with its shares closing down 15 percent on Thursday. Thomas Cook declined to comment on a Bloomberg report on Thursday that three of its lenders accepted steep losses to exit a loan facility to the company.The world’s oldest travel company struggled in 2018 when a heatwave in northern Europe deterred holiday makers, leading to two major profit warnings.
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