Thomas Cook Group has secured a £200m loan from its banks and has thanked its partners, suppliers and loyal customers for their support and employees for their hard work over the past week.

Issuing a statement late on Friday evening, the company revealed it has reached an agreement with its banking group to provide the Group with a new facility that significantly improves the robustness of the Group’s financial position.

Barclays, HSBC, RBS and UniCredit, have agreed to provide a new £200m facility available until 30 April 2013, which replaces the £100m short-term facility announced on 21 October 2011.

In addition, Thomas Cook revealed that they have agreed a further relaxation of the financial covenants under the existing facilities. This will provide the Group with much increased headroom to deal with unexpected events and the effects of an uncertain economic environment.

The Board will continue to take steps to reduce the Group’s debt and reach a more appropriate capital structure over time. The Group will also undertake a strategic review.

Sam Weihagen, Group Chief Executive, Thomas Cook Group said: “I am absolutely delighted that we have reached agreement and I would like to thank the banks for acting so swiftly. Over the last few days, we have been overwhelmed by the messages of support from our holidaymakers, suppliers and partners and I would like to thank them for their good wishes and our employees for their hard work and dedication.

He added: For over 170 years Thomas Cook has provided customers across the world with fantastic travel experiences. Today they can look forward confidently to holidays with us for many years to come.”

The Group will announce its preliminary results for the twelve months ended 30 September 2011 during the week commencing 12 December 2011.