Corporate Travel Management has secured new $175 million debt facilities from PEP Credit, replacing its existing $75 million corporate facility and supported by a $65 million bank guarantee line from existing lenders. The expanded financing is intended to fund remediation obligations to key UK customers and provide sufficient liquidity for ongoing operations, contingent on the release of FY25 accounts without a going concern qualification.
Ahead of publishing its FY25 and 1H26 financial statements, the company has completed reviews of European air margins and global impairment assessments, and now expects to book a $29 million liability related to European contracts and an $89 million impairment in its ANZ segment. Management said these…