About 430 jobs are at risk at Thomas Cook after the beleaguered tour operator revealed plans to cut its aircraft fleet to slash costs. The UK's second-biggest travel company aims to reduce the number of planes it operates from 35 to 31, returning four aircraft at the end of their lease term.
Thomas Cook said it expects the move to hit 430 staff – including pilots and cabin crew.
The group, which was recently forced to ask its banks for an extra £200m in loans, has scaled back its own airline in the past year and entered a partnership with Easyjet. Its air travel division currently employs just over 3,100 staff and the cuts will be made across the board.
Thomas Cook has already sold five Spanish hotels and its Indian arm to help cut its £1bn debt mountain.