Thomas Cook in Bank loan talks

Thomas Cook has delayed the release of full year results until it has concluded renegotiation talks with banks regarding lending facilities.

The second largest travel operator in Europe has been suffering from poor trading conditions all year, having issued three profit warnings and seeing their share price down by 80% over the period.

No doubt the internet has lured customers away but they have also lost large sums through the unrest in popular tourist destiinations in Arabic countries and extreme weather conditions elsewhere.

They are not currently in default in any way and but are looking to increase their financial flexibility going forward and have said that existing and future clients can travel and book with Thomas Cook with confidence.