{"id":14882,"date":"2019-08-28T11:19:33","date_gmt":"2019-08-28T10:19:33","guid":{"rendered":"http:\/\/www.fiveminutesspare.com\/news\/?p=14882"},"modified":"2019-08-28T11:19:33","modified_gmt":"2019-08-28T10:19:33","slug":"thomas-cook-rescue-deal","status":"publish","type":"post","link":"https:\/\/www.fiveminutesspare.com\/news\/thomas-cook-rescue-deal\/","title":{"rendered":"Thomas Cook accepts a \u00a3900m rescue deal by investors and lenders"},"content":{"rendered":"<p><span style=\"color: #000000;\">Thomas Cook has reached a &#8220;substantial agreement&#8221; on a rescue deal with investors and lenders. Forsun will take a 75% stake in its tour operating business and have a 25% stake in its airline business. Forsun will also put in \u00a3450m for the business to help save the airline.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-14884\" src=\"http:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/shutterstock_600031202-1.jpg\" alt=\"\" width=\"842\" height=\"547\" srcset=\"https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/shutterstock_600031202-1.jpg 1000w, https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/shutterstock_600031202-1-300x195.jpg 300w, https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/shutterstock_600031202-1-768x499.jpg 768w\" sizes=\"auto, (max-width: 842px) 100vw, 842px\" \/><\/p>\n<p><span style=\"color: #000000;\"> Lenders will put another \u00a3450m in and convert much of the company debt pile which is over \u00a31bn into shares.<\/span><\/p>\n<p><span style=\"color: #000000;\">Thomas Cook has issued three profit warnings in a year and is struggling to reduce its debts. The company has also been trying to sell its airline business for a long time.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">The \u00a3900m cash injection will take place by early October and will help the company avoid bankruptcy.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><strong>Thomas Cook said<\/strong>: \u201cThe execution of the transaction remains subject to a legally-binding agreement being reached amongst the parties to the recapitalisation plan and, where appropriate, the group&#8217;s other key stakeholders.\u201d<\/span><\/p>\n<p><span style=\"color: #000000;\">In August 2018, 200 Thomas Cook shares were worth the equivalent of a week&#8217;s package holiday in Greece in the September month however now they are worth less than \u00a313.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thomas Cook has reached a &#8220;substantial agreement&#8221; on a rescue deal with investors and lenders. Forsun will take a 75% stake in its tour operating business and have a 25% stake in its airline business. Forsun will also put in \u00a3450m for the business to help save the airline. Lenders will put another \u00a3450m in&#8230;<\/p>\n","protected":false},"author":59,"featured_media":14884,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"footnotes":""},"categories":[34],"tags":[123,576,79,1606,43],"class_list":["post-14882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-123","tag-airline","tag-headline","tag-thomas-cook","tag-uk-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/comments?post=14882"}],"version-history":[{"count":2,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14882\/revisions"}],"predecessor-version":[{"id":14885,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14882\/revisions\/14885"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media\/14884"}],"wp:attachment":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media?parent=14882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/categories?post=14882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/tags?post=14882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}