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Thomas Cook shares stabilise after Tuesday's plunge | Thomas Cook shares stabilise after Tuesday's plunge |
(about 4 hours later) | |
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Shares in travel firm Thomas Cook have recovered slightly from Tuesday's sharp fall, closing at more than 11p. | Shares in travel firm Thomas Cook have recovered slightly from Tuesday's sharp fall, closing at more than 11p. |
On Tuesday, the company's shares fell from 41p to close at 10.2p after it said it was in talks with banks about increasing borrowings. | On Tuesday, the company's shares fell from 41p to close at 10.2p after it said it was in talks with banks about increasing borrowings. |
It has delayed releasing full year results until talks are finished. | It has delayed releasing full year results until talks are finished. |
Thomas Cook had also warned that trading had "deteriorated", due to political unrest in Egypt and Tunisia and floods in Thailand. | Thomas Cook had also warned that trading had "deteriorated", due to political unrest in Egypt and Tunisia and floods in Thailand. |
Customers have been told their bookings are fully protected. | Customers have been told their bookings are fully protected. |
Improving 'resilience' | Improving 'resilience' |
Last month, Thomas Cook announced it had arranged a new £100m credit agreement with its bankers. | Last month, Thomas Cook announced it had arranged a new £100m credit agreement with its bankers. |
The company is trying to negotiate about another £100m credit. | The company is trying to negotiate about another £100m credit. |
It is reported to be planning to close 200 of its 1,200 High Street travel agencies and bureaux de change. | It is reported to be planning to close 200 of its 1,200 High Street travel agencies and bureaux de change. |
Anyone booked for a package holiday with Thomas Cook is covered under the Air Travel Organisers' Licensing (Atol) scheme, which is funded by contributions from travel companies. | Anyone booked for a package holiday with Thomas Cook is covered under the Air Travel Organisers' Licensing (Atol) scheme, which is funded by contributions from travel companies. |
People who have only booked a flight with the company will be covered by the Atol scheme if they bought their tickets in a Thomas Cook shop. | People who have only booked a flight with the company will be covered by the Atol scheme if they bought their tickets in a Thomas Cook shop. |
However, they will not be covered if they bought plane tickets through the website and are advised to buy suitable travel insurance. | However, they will not be covered if they bought plane tickets through the website and are advised to buy suitable travel insurance. |