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