Sep 22, 2019

Thomas Cook in last-ditch talks to save tour operator

Thomas Cook's executives, banks and bondholders are in talks at a City law firm on Sunday in a last-ditch bid to save the 178-year old UK travel company from collapse. The lenders, which include Royal Bank of Scotland and Lloyds Banking Group, are seeking the money to ensure Thomas Cook can survive through the quieter winter period. Failure to rescue Thomas Cook would force the government to repatriate the 150,000 UK holidaymakers currently on holiday with the company. In a statement, Manual Cortes, general secretary of the TSSA that represents travel and transport staff, said: "Thomas Cook must be rescued no matter what. This is not just about the threat of losing jobs and an iconic brand from our high streets but the fact that if Thomas Cook goes under, we will be left with just one major travel operator - Tui - controlling the mass market." Even on Sunday morning, the Thomas Cook website was advertising discounts of up to £300 on holidays between January and October next year.

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