Distressed tour operator Thomas Cook has reached a new deal with bankers for an additional £200 million loan.

Airport news for Travel,Flights on 28/11/2011.

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Friday saw the company announce that it had secured the sum with the help of several lenders including RBS, UniCredit, Barclays and HSBC, with the facility lasting through April of 2013.

Shares for Thomas Cook, Britain’s oldest travel firm, dropped by 75 percentage points last week when news broke that it was looking for additional capital following numerous profit warnings in the months prior. Officials for the company say that unrest in North Africa and the Middle East in addition to Thailand’s ongoing flood crisis have hit the business hard in the past year.

The new loan replaces the short-term credit of £100 million announced in mid-October and brings Thomas Cook’s total debts in excess of £1 billion.

The tour operator’s chief executive, Sam Weihagen, said that he was thankful that the banks had been able to act swiftly and added that he was “delighted” that the two sides were able to reach a deal.

But in spite of “profitability problems” for Thomas Cook UK, as Mr Weihagen calls them, the firm’s ventures in Scandinavia and German have been able to maintain positive performance in 2011. Nonetheless, company officials say there will be a full review of the international business in the coming months.

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