British tour-operator Thomas Cook has secured a new £100 million banking facility, which it argues will “increase flexibility” during “the seasonal cash low point at the end of December this year”.

Existing credit facilities at the troubled operator comprise a £150 million amortising term loan and a £850 million revolving credit facility which both mature in May 2014.

Thomas Cook has been seeking to reorganise its operations following a series of profit warnings and the loss of its chief executive.

Today the organisation confirmed it had “reached agreement with our banking group to amend the terms of our existing bank facilities”.

Paul Hollingworth, group chief financial officer, added: “We are pleased to have the full support of our banking group in amending the financial covenants so as to provide greater financial flexibility, particularly around the seasonal cash low point at the end of December.”