Peterborough-based Thomas Cook is expecting to see a breakthrough in its turnaround when it secures approval for two key disposals, without which the holiday giant has warned it could collapse.
The tour operator, which appointed a new chief executive on Thursday, needs investors to back the planned sale and leaseback of part of its aircraft fleet and the disposal of five Spanish hotels.
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Thomas Cook, which began life in Leicester 170 years ago, has agreed to a £1.4 billion finance deal.
The company which is based in Peterborough says the finance package with its banks will provide "further stability" to the business. Last year Thomas Cook announced it was cutting jobs and stores.
Holiday firm Thomas Cook is reportedly closing in on a loan deal, which could help secure its future.
Lenders including the Royal Bank of Scotland and Barclays are near to approving a refinancing that will extend the maturity on bank loans to 2015.
The Sunday Times reports the consortium of 17 banks will extract a heavy price for the new loans by including the right to take 5% of the company's shares, as well as higher interest and a one-off fee.
Peterborough-based Thomas Cook, which has an annual turnover of £9 billion and 30,000 employees, was in crisis last autumn before banks stepped in with an emergency £200 million loan.
It followed a disastrous year of three profit warnings, the departure of its chief executive and an earlier £100 million bail-out from its banks.