Troubled travel company Thomas Cook is in £750m rescue talks with banks and its largest shareholder, Fosun.

The measures, which have not been finalised, would see the Chinese investor buy the firm’s tour business.

Thomas Cook’s chief executive, Peter Fankhauser, said the proposal was “not the outcome any of us wanted” but insisted it was “pragmatic”.

He told the BBC that customers did not need to worry because their holiday bookings were “secure”.

“They can book with us without worries,” he said. “We have enough resources to operate our business so they can enjoy their holidays with us.”

The cash injection will give the group enough money to trade through to the end of next year and invest for the future.

The travel agent launched a strategic review earlier this year

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