‘Don’t panic’ says £1.5bn loss hol firm

Sunday Mirror (Northern Ireland) - - News - BY STEPHEN HAY­WARD

THOMAS Cook in­sisted it was “busi­ness as usual” yes­ter­day amid fears for hol­i­days this sum­mer.

Share prices in the 178-year-old travel gi­ant plunged by 40 per cent on Fri­day af­ter a City an­a­lyst branded them worth­less.

This fol­lowed Thomas Cook, with 20,000 staff and 21 mil­lion cus­tomers a year, re­port­ing a record £1.5bil­lion loss.

But Thomas Cook in­sid­ers say it has the full back­ing of its banks and there is no need for panic.

It hopes to sell its fleet of 105 jets to pay off its debts.

It is also clos­ing 21 high street travel agents and cut­ting some 300 jobs.

Fear­ful tourists swamped the firm’s Face­book page. One said: “Just booked for Turkey... hope you don’t go into liq­ui­da­tion.” Its hol­i­days are ATOL-pro­tected so if the worst hap­pened peo­ple would get a re­fund or re­place­ment.

SELL-OFF Thomas Cook jet

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.