Thomas Cook has performed poorly after revealing it requires an additional loan.
Those who have booked holidays through tour operator Thomas Cook may be checking their travel insurance policies after the company witnessed a tumble on the stock market.
It emerged yesterday (November 22nd) that the organisation has been in talks with its banks about borrowing more money.
Thomas Cook is said to need an extra £100 million to see it through the winter months and the revelation has caused concern among investors.
Its FTSE 100 share price toppled by 75 per cent yesterday as people began to worry whether the business could survive the difficult time.
However, chief executive Sam Weihagen has reassured holidaymakers that they are still in a strong position and have only asked for the sum so they are prepared for any poor spells during the coming months.
He said he is confident that the banks will be supportive and help the company at this tricky point.
Thomas Cook's history dates back to 1841 and is now responsible for millions of holidays taken by Britons every year.
In a message on its Twitter feed yesterday, the company stated: "Thomas Cook reassures all customers it is business as usual.
"Our holidays are fully protected and can be booked with complete confidence."
One of the reasons for its poor performance lately is that it has seen bookings fall in certain parts of Europe.
As a result of the eurozone crisis, the organisation has seen fewer people visit areas such as France and Belgium, while Egypt has also witnessed lost bookings as a result of the continued political uncertainty.
By Dennis Clarke
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