You are here: Home » Reuters » News
Business Standard

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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

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