Thomas Cook battles for survival with final creditor meeting

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Thomas Cook has been fighting for its survival after lenders threatened back out of a rescue deal that has been months in the making. FMTNews

LONDON: Bosses at Britain’s Thomas Cook were meeting lenders and creditors on Sunday to decide whether the world’s oldest travel company could survive until Monday, or face a chaotic collapse that would be felt around the world.

The company, founded in 1841, has been fighting for its survival after its lenders threatened to pull the plug on a rescue deal that has been months in the making. “We have not given up,” the person said on Saturday, declining to be named due to the sensitivity of the situation. In Germany, where some 300,000 are abroad with the operator, it will fall to their insurance companies to help get them home.

“Hi Annie, I understand your father might be unsettled by all the news surrounding Thomas Cook and our business recently, but our flight operations continue to operate as normal,” the company said in response to one worried customer.

 

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