Ving's owner, Thomas Cook Group, has filed for bankruptcy protection.
But the travel giant is reassuring Swedish travelers.
”"It's a standard procedure. As a traveler, it's nothing that concerns you," says Ving's communications manager Fredrik Henriksson.
Travel giant Thomas Cook Group, known as Ving in Sweden, is facing major debt problems and is in the midst of a restructuring. The company has now filed for bankruptcy protection in the United States under Chapter 15 of the American bankruptcy law. This means that foreign companies are protected from lawsuits by creditors.
The application was filed in New York and shows documents dated September 16, writes Finwire.
Thomas Cook is in the process of securing a major rescue package, with capital from China's Fosun among the group's partners. A vote on the funding is due to take place on 27 September.
According to Ving's head of information, Swedish travelers need not feel worried.
”"This whole recapitulation is a procedure that we are doing to reduce our debts and be on a much more financially stable footing. But as a traveler, it doesn't affect you, flights and bookings are exactly as planned."”
The next step is to row the rescue package into port, which Fredrik Henriksson predicts will happen during the first half of October.
”It is a complex process, but all parties are in agreement and the majority of the terms are in the transactions. This should be completed by early October.”
Source: di.se
