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Thomas Cook sell-off plan to turn business around

Peterborough-based Thomas Cook is asking shareholders to approve two sell-offs without which the holiday giant has warned it could collapse.

The tour operator, which appointed new chief executive Harriet Green on Thursday, needs investors to back the planned sale and leaseback of part of its aircraft fleet and the disposal of five Spanish hotels.

Failure to support the fundraising move could jeopardise the company's recent £1.4 billion deal with lenders to turn the business around.

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