Tour operator, Thomas Cook, has announced a £425 million fundraising with shareholders in a bid to cut debt.
The firm, based in Peterborough, has also revealed details of a £1.6billion refinancing plan. The news comes at a time when trade is "encouraging" and the travel agent say they have seen a 10% reduction in the number of holidays left to sell compared with last year.
Under new chief executive Harriet Green, Thomas Cook also said it cut losses to £275.6 million for the seasonally quieter half year to March 31.
More top news
East Midlands weather forecast, brought to you by Amanda Houston
Weather forecast for the West Midlands, brought to you by Amanda Houston
65 young people and children have died in prisons in England and Wales over the last four years, with 6 of them recorded in Glen Parva