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
-
Would you delay retirement to help your children through university?Parents are missing out on as much as £45,000 that could have gone into their pensions because they are using that money to pay their children’s way through university, according to new research
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoidA couple faces a substantial stamp duty bill after trying to reduce the amount they owed
