Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.


Thomas Cook unveils fightback after bank deal

The troubled holiday firm Thomas Cook has tried to revive its dire trading with a price promotion that offers £170 off any summer holiday for UK consumers, following a rescue deal with its banks at the weekend. The £200m loan sent shares in the tour operator soaring by 3.3p, or 18 per cent, to 21.3p yesterday – more than double its closing price of 10.2p last Tuesday.

On that day, its shares crashed by 75 per cent after Thomas Cook, which has £900m of debt, warned it needed more money from its banks to help it through its seasonal low point .

But yesterday the debt-laden holiday company launched an aggressive price promotion, which played on the fact it was founded in 1841.