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Thomas Cook warn shareholders it could face 'administration'

Failure to back the disposals, which include the sale and leaseback of its aircraft, Credit: Dave Thompson/PA Wire

Thomas Cook has warned its shareholders that their failure to back two planned disposals, which include the sale and leaseback of part of its aircraft fleet and the disposal of five Spanish hotels, could lead to the firm going into administration.

In a circular, the tour operator confirmed losses of £262.7 million for the winter, but said it was confident that shareholders would vote for the disposals.

A spokesman for Thomas Cook said: "We fully expect the hotel sale and sale and leaseback to go ahead as planned."

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