Deathwatch: Can Thomas Cook avoid an almost certain death?
But everything is fine, apparently. As fine as things can be when you're operating on a £26.5m loss for the three months to 30th June, compared with a profit of £20.1m in the same period last year.
Harriet Green, who became Thomas Cook's new chief executive last month, said: "My initial focus is to review our businesses, quickly establish priorities, and develop a clear plan to reinvigorate Thomas Cook. The group has been through a difficult period, but much has been achieved which has strengthened the balance sheet and improved liquidity."
"The strength of the group's brands and the quality of its businesses and people provides a foundation from which to bring the business back to full strength."
Sadly, everyone got bored of listening to her around the word 'initial'.
Basically, what Thomas Cook have been doing to stay alive, is sell off a load of its stuff. For example, the travel company has got shut of its HCV Hotels subsidiary in Spain for £58m and agreed an aircraft sale and leaseback deal which raises £189m.
But is it enough to do a Lazarus and stick around?