Thomas Cook Group has announced it's agreed a £450million deal with Club Med and Wolverhampton Wanderers owner Fonsum.
The deal will see 75% of the Thomas Cook's tour operating business and 25% of its airline handed to the Chinese firm, subject to regulatory approval.
The cash will largely be used to clear Thomas Cook's debt pile, however the future for people who have invested in the firm is uncertain.
The company's shares have plunged 92% in the past year as the travel operator struggled and debts mounted.
Now, with three quarters of the tour operating business set to be sold, Thomas Cook said it could de-list the company.
"The current intention of the Board is to maintain the Company's listing. However, the implementation of the proposed recapitalisation may, in certain circumstances, result in the cancellation of the Company's listing," Thomas Cook said in a statement to shareholders.
In July, Thomas Cook chief executive Peter Fankhauser said the proposal was "not the outcome any of us wanted" but insisted it was "pragmatic".
"This is a very good option to secure the business and to put the business on a solid financial foot for the future," he explained.
Customers were told not to worry, and that their bookings were secure.
