Thomas Cook faces cruel summer as bookings slump
Last year’s European heatwave undermined demand for 'winter-sun' holidays, while British customers are continuing to delay travel plans and bookings from Germany have weakened
Thomas Cook’s crisis deepened on Thursday as the debt-laden travel group warned of another tough summer and said it would get a £300 million rescue loan only if it made progress with the sale of its airline.
The shares fell to their lowest level since 2012 and its bonds hit a record low after the world’s second-biggest tour operator posted a £1.1 billion writedown at a UK business hurt bythe Brexit saga.
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