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Thomas Cook Group (TCG)

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Friday 03 May, 2019

Thomas Cook Group

Statement re bank financing

RNS Number : 0829Y
Thomas Cook Group PLC
03 May 2019


Statement re bank financing

3 May 2019 - Thomas Cook Group plc notes the recent media speculation regarding discussions in relation to its financing requirements.

As stated in our first quarter trading announcement of 7 February 2019, Thomas Cook kept a healthy level of liquidity headroom through the last winter cash low period, maintaining a minimum liquidity buffer within our targeted range of £150 million to £200 million.

Since that update, the business has moved into its key summer booking period where the Group's liquidity position continues to strengthen. Looking ahead to Winter 2019/20, we have taken the proactive step of engaging in discussions with our lending banks now to ensure we have both the financial flexibility necessary to maintain an appropriate liquidity buffer through the winter, and also the ability to continue to invest in our strategy of growth.

Peter Fankhauser, Chief Executive Officer of Thomas Cook, said: "We have taken a number of prudent early steps to de-risk our business by taking out capacity in a challenging consumer environment. We have also taken the proactive step to approach our financing partners and are engaged in constructive discussions to ensure we have the flexibility and resources to continue investing behind our plans over the long-term."

We will provide an update on current trading on the publication of our H1 2019 interim results, due on 16 May 2019.



About Thomas Cook Group Plc.

Thomas Cook Group plc. is one of the world's leading leisure travel groups, with sales of £9.6 billion in the year ended 30 September 2018. It is supported by 21,000 employees and has 200 own-brand hotels. It operates from 16 source markets and serves over 22 million customers annually. Thomas Cook Group plc's shares are listed on the London Stock Exchange (TCG).


Contact Details:


Analysts & Investors:

Tej Randhawa, Thomas Cook Group

+44 (0) 20 7557 6487


Alice Macandrew, Thomas Cook Group

Matthew Magee, Thomas Cook Group

+44 (0) 20 7294 6409

+44 (0) 1733 417272




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