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Travel industry news

20 May 2019

BY Jennifer Morris


Thomas Cook: Customers can have 'complete confidence' booking with us

Thomas Cook responded to a number of concerns from customers on social media over the weekend, insisting they can “have complete confidence in booking their holiday" with the brand.

Thomas Cook tailfin livery

Cook plunged on Friday when a city analyst said the company’s shares were worth nothing

It comes after shares in Cook plunged on Friday (17 May) when a city analyst said the company’s shares were worth nothing.


A spokesperson said: “We have taken a number of proactive steps in recent months to strengthen our financial position.


“We have the support of our lending banks and major shareholders, and just this week we agreed additional funding for our coming winter cash low period.


“We have ample resources to operate our business and at the same time, as usual, our liquidity position continues to strengthen into the summer period.

“As an Atol-protected business, all of our holidays are protected under the package travel directive, so our customers can have complete confidence in booking their holiday with us.

“We’re looking forward to the summer season with 20 new own-brand hotels openings and some great offers for customers.”

Elsewhere, over the weekend it emerged that Thomas Cook’s Nordic payment card processor wanted to extend the period it held on to customers’ cash to several weeks over concerns around Cook’s financial pressures.


A Cook spokesperson said: "In the last few days we have had a number of discussions with our suppliers to explain the ample resources we have to continue to do business as well as our strengthening liquidity position.

"We remain in discussions with our Nordic card supplier and we are confident that we will reach an acceptable solution in the coming days."


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