Thomas Cook seeks £400m

DEBT-laden travel group Thomas Cook is looking for a £400m loan as it braces for a brutal winter.

The company last night admitted it had opened talks with banks about getting a cash injection.

It said its balance sheet was strengthening on the back of the key summer booking period but that it wanted to build up reserves for the coming winter.

The move comes as the company grapples with a £1.6bn debt mountain. It is seeking a £400m loan to cushion its finances further, according to Sky News.

Peter Fankhauser, the firm’s chief executive, said: ‘We have taken a number of prudent early steps to de-risk our business.’

Shares - which have fallen 84pc in the past year - closed down 1.9pc, or 0.43p, at 21.68p last night.