MyTravel is reported in The Independent to be close to securing funding for a “three-year lifeline”.
The newspaper says MyTravel has secured backing from two-thirds of its bondholders for a crucial refinancing deal that will buy it a three-year lifeline. A final vote is due on 15 September.
Chairman Eric Sanderson told The Independent newspaper that while refinancing would buy MyTravel time to implement its turnaround strategy, “significant challenges” lay ahead.
For more information, see: http://news.independent.co.uk/business/news/story.jsp?story=435106
See our previous story:
22-Jul-2003 MyTravel shares jump on finance announcement
