Archive for Thomas Cook

Thomas Cook – problems and consequences

Thomas Cook Airlines

Thomas Cook Airlines

Last week, the biggest UK travel group, Thomas Cook, delayed publishing its 2011 results as it was renegotiating the terms of its credit agreements. Following this announcement, the group saw its shares drop by 75% (from 41,62£ to 10,20£) in one single day. After a long week-end the Thomas Cook managers reached an agreement with the banks and received a new £100m loan for the business. After the good news came out the group’s shares jumped by 50%, but the share value is still much lower than it was one week ago. Read more