Cook said in a trading update issued on Monday morning (12 August) the money was required in addition to the £750 million announced as part of a proposed recapitalisation of the group.
This process, said Cook, which had been slated for September, is now expected to take place in early October with the aim of dramatically reducing the operator’s debt.
Led by Cook’s largest shareholder, Chinese tourism firm Fosun, the deal will see Fosun take a majority stake in Cook’s tour operator business and a minority interest in its group airline.
