Thomas Cook in ‘advanced discussions’ for £750 million cash injection

Thomas Cook is in ‘advanced discussions’ with its largest shareholder, and its banks, about an injection of £750 million. The talks with largest shareholder, Fosun Tourism Group, would provide liquidity for Thomas Cook to trade over the Winter 2019/20 season and the financial flexibility to invest in the business for the future. Upon completion of the talks, Fosun would own a significant controlling stake in the group tour operator and a significant minority interest in the group airline, Thomas Cook says. A significant amount of the group’s external bank and bond debt will be converted into equity. Existing shareholders will