Thomas Cook still committed to Fosun rescue deal
Thomas Cook has said it is fully committed to pushing through the proposed rescue deal package with major investor Fosun.
The tour operator and airline group was forced to reinforce its position after reports the deal was in doubt.
UK media reported some investors could attempt to block the deal with the China based conglomerate.
Thomas Cook was in last-minute talks with bondholders to get the takeover approved. It needs the backing of three quarters of bondholders to succeed.
A possible collapse of the deal is apparently being taken seriously by the UK’s Civil Aviation Authority, which has reportedly been drawing up contingency plans for a potential repatriation of customers from overseas if the company collapses.
Additionally the Telegraph newspaper reported insolvency experts from advisory firm AlixPartners are on standby ‘should rescue talks with Chinese conglomerate Fosun and other lenders fail’.
Thomas Cook hasn’t directly commented on the media speculation and remains ‘focused on completing the transaction’ it said.
"We have reached substantial agreement with Fosun and our creditors regarding key commercial terms of the recapitalisation of Thomas Cook."
Fosun also owns global resort group Club Med.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists