European online travel retailer ebookers.com has denied press reports that it has hit a cash crisis.
LONDON (Brand Republic) - European online travel retailer ebookers.com has denied press reports that it has hit a cash crisis.
The company, which is a spin-off from travel agency Flightbookers, issued a statement saying that it was in advanced discussions with a number of parties over its financing and was confident that it would secure additional funding. This is, it said, in line with plans following its IPO in November 1999.
Media speculation stemmed from unsubstantiated stories that Price Waterhouse Coopers had predicted that the company would run out of cash in the next two years.
The statement comes ahead of ebookers.com’s second-quarter results announced on July 17, which will include more detailed information on the additional funding. The company’s Nasdaq share price was down 1.125 to $7 at close of trading on Friday.