Thomas Cook is running low on cash and has begun talks with its banks
Thomas Cook planes parked at Munich airport last year. Photograph: Alexander Hassenstein/Getty Images Thomas Cook is running low on cash and has begun talks with its banks, in an effort to increase its borrowings to tide it over the slow Christmas season. Shares in the tour operator fell by more than three quarters on Tuesday morning after it admitted that trading has "deteriorated" in recent months. It is now seeking to borrow more in the short term, and has postponed the publication of its financial results until the talks are concluded. Shares in the company, which abruptly lost its chief executive three months ago , tumbled by more than 75% to 9.3p at one stage. Tour operators tend to run low on cash in the slower winter months, but even so, the news stunned the City. Only last month, Thomas Cook said it had agreed a further £100m in short-term funding from its banks explicitly for the winter lull. A spokeswoman said that discussions with banks were merely a "prude...