Thomas Cook - results, write-offs and layering

All,

Results out this morning.
Two key notes:- Airline sale - have received multiple bids, including for the whole airline.  Currently assessing the bids and will provide update in due course.
- Bonds are being primed: New Bank Facility - £300m bank facility to provide additional liquidity for Winter 2019/20 season - Facility commences on 1st October 2019 to June 2020Have similar covenants as the existing RCF facilities, but has security (first ranking) over £300m of assetsThe facility is £100m smaller than we thought.
- The results themselves are poorer than thought - including the German business - so not just a Brexit story.- Significant asset write-offs 
Tomas is on the ball.

Wolfgang