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Thomas Cook might sell airline to raise cash, shares climb

Reuters  |  LONDON 

By Alistair SmoutLONDON (Reuters) - Thomas Cook said it was willing to sell its profitable airline business to raise cash to fund its fight back from losses racked up in 2018 and to cope with a tough year ahead, sending the travel group's shares 12 percent higher.The oldest travel company in the world stumbled badly last year when a heatwave in northern Europe deterred holiday makers from booking lucrative last minute deals, leading to two major profit warnings and talk of a need to raise funds. The British group, which had a market valuation of 540 million pounds ($695 million) and net debt ...

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First Published: Thu, February 07 2019. 19:40 IST
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