Virgin Atlantic's involvement in the auction comes just months after it participated in the takeover of the UK-based regional carrier Flybe.The company is already preoccupied with the turnaround of Flybe, as well as its own fate as it awaits regulatory approval for a three-way deal with Air France-KLM and Delta Air Lines that would reduce Sir Richard's stake to 20%.
People close to Thomas Cook have stressed that it does not require additional funding money to see it through the crucial summer holiday season. The move to seek a bigger debt buffer from its lenders underscores the problems facing the business as it contends with an inflated high street cost base even as consumers increasingly turn to digital channels to book holidays.If an agreement is reached with its lenders, the £400m of additional borrowing firepower should provide insurance against any further sharp downturn in the company's performance.
Source: News Formal (newsformal.com)
I hope they don’t sell to Virgin. I like Cancun but won’t travel by Virgin.
More price hikes then
Do you fly Thomas Cook airlines?
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