Tag: Thomas Cook Airlines

Investigators begin probe into Thomas Cook auditing

Investigators begin probe into Thomas Cook auditing

Following the collapse of leisure company Thomas Cook, UK financial investigators have initiated a probe into the auditing of the Group's last full-year financial statement Thomas Cook Group's audit was carried out by EY which had secured the right to be the company's external auditor in 2017. ...

Forty aircraft recruited to repatriate Thomas Cook customers

Forty aircraft recruited to repatriate Thomas Cook customers

Leisure firm Thomas Cook’s collapse has triggered a huge repatriation effort to ensure that over 150,000 holidaymakers will be able to return. All Thomas Cook flights have been cancelled as a result of the firm’s failure. The UK Civil Aviation Authority says it has recruited about 40 airc...

Birmingham Airport issues statement as Thomas Cook collapses

Birmingham Airport issues statement as Thomas Cook collapses

Thomas Cook has ceased trading with immediate effect - meaning all flights, bookings and holidays are cancelled. An estimated 150,000 Brits will be stranded abroad now the world's oldest travel firm has collapsed following a last-ditch attempt to secure a rescue deal. Passengers travelling wi...

Thomas Cook told to find an extra £200m to secure future

Thomas Cook told to find an extra £200m to secure future

Thomas Cook Group has been told by its lenders that it has to find an extra £200 million in extra funding to secure its future, putting the tourism operator at risk of collapse if the cash is not found. The cash-strapped operator had hoped that this week it would seal a rescue deal led by Fosun...

Thomas Cook Group secures £900m rescue deal with Fosun

Thomas Cook Group secures £900m rescue deal with Fosun

Struggling Thomas Cook Group said it has achieved a “substantial agreement” regarding key commercial terms over the recapitalisation of the company, securing the future of the travel firm and the airline arm. As part of the rescue deal, main shareholder Fosun Tourism Group will inject £450 ...

Thomas Cook Group looking for a further £150m cash injection

Thomas Cook Group looking for a further £150m cash injection

The Thomas Cook Group said today it is in “advanced discussions” of an additional cash injection of £150 million, on top of the previously £750 million announced on 12 July. The group is looking to get the extra money from its largest shareholder, Chinese company Fosun Tourism Group a...

Thomas Cook Group in talks with main shareholder for £750m cash injection

Thomas Cook Group in talks with main shareholder for £750m cash injection

Cash-strapped Thomas Cook Group is in advanced discussions with the Group’s largest shareholder over a cash injection of £750 million. The Group, which includes airline arm Thomas Cook Airlines is in talks with the Fosun Tourism Group and its affiliates and Thomas Cook’s core lending banks ...

Grounding of Boeing 737 Max helps drive growth at Avion Express in 1H19

Grounding of Boeing 737 Max helps drive growth at Avion Express in 1H19

The largest narrow-body aircraft, crew, maintenance and insurance (ACMI) operator in the world Avion Express has expanded its fleet and increased production results in the first half of 2019 (1H19) as the grounding of the Boeing 737 Max helped it grow its operations. This summer the company is o...

Virgin Atlantic enters the race for Thomas Cook airline, reports claim

Virgin Atlantic enters the race for Thomas Cook airline, reports claim

Virgin Atlantic has entered into the battle for struggling Thomas Cook's airline operations by lodging a preliminary offer for the travel operator's UK long-haul business, according to reports. Sky News reports that the carrier part-owned by Sir Richard Branson's Virgin Group submitted an initia...

Thomas Cook to carry out strategic review, as it mulls selling airline unit

Thomas Cook to carry out strategic review, as it mulls selling airline unit

Travel company the Thomas Cook Group has today said it could put its airline business unit up for sale in a bid to raise more than £1 billion to pay down debt, according to reports. The company said it had begun a “strategic” review of the airline to “increase financial flexibility and acc...

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