Struggling tour operator Thomas Cook lives to fight another day after shareholders overwhelmingly backed plans to sell assets to raise much needed cash.
There were hardly any dissenters at the general meeting called to ratify the decision to sell the company's interest in HCV to Iberostar, and the company's aircraft sale and leaseback agreements with Guggenheim Aviation Partners LLC and Aircastle Advisor (International) Limited.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The message seems to have got through, with 99.99% of votes cast being cast in favour of the sales.
The company can now concentrate on executing its recovery plan under new Chief Executive Officer, Harriet Green, who joined the company last week from electronic components supplier Premier Farnell.
JH
-
The UK cities where it’s cheaper to buy a house than rentFor people in some areas of the country, home ownership is a distant dream. But for others it can be surprisingly affordable.
-
Review: The Grill at the DorchesterThe Grill at the Dorchester has a new, easy-going atmosphere, but the food is serious: from punchy beef wellington to grown-up tarte tatin, says Dan McEvoy
