Thomas Cook confirmed (09-Apr-2012) it is in discussions with a banking consortium regarding the extension of its financing arrangements. As previously reported by CAPA, the airline is reportedly close to a GBP1.2 billion refinancing deal with a consortium of 17 banks which will give it two more years to turnaround its business. The airline is also reportedly considering selling and leasing back its fleet in order to reduce expenses. Without the deal the airline will need to repay the majority of its debt by Apr-2013. [more - original PR]
Thomas Cook confirms financing discussions
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Over seven months after the UK voted in a referendum to leave the European Union, the longer term impact on aviation remains uncertain. The UK Prime Minister Theresa May will almost certainly gain parliamentary authority to trigger Article 50 by her planned deadline of the end of Mar-2017, taking the UK out of the EU by Mar-2019.
On 17-Jan-2017 Mrs May set out 12 principles which will guide the UK in its negotiations with the European Union over the terms of its exit. These principles formed the basis of a White Paper outlining the government's planned approach to the Brexit negotiations. Among other things, the UK does not plan continued membership of the EU Single Market and wishes to control immigration.
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