Thomas Cook shares down 50%
Shares in travel firm Thomas Cook plummeted this morning after the firm said it was in talks with its banks about borrowing more money.
Shares in travel firm Thomas Cook plummeted this morning after the firm said it was in talks with its banks about borrowing more money.
This was due to a "deterioration of trading in some areas of the business in the current quarter", the firm said.
It added that it would delay the release of its full year results until the discussions were finished.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In October, Thomas Cook said aid it had reached agreement with bankers to amend the terms of its existing facilities while securing an extra £100m of headroom.
Shares fell 51% on opening. Before today the stock had dropped 78% already this year.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Best funds to add to your ISA or SIPP before the Budget
With Labour expected to increase taxes, ISAs and SIPPs could be a great way to protect yourself from any CGT hikes. We look at the best funds to buy now
By Katie Williams Published
-
Starling Bank slapped with £29 million fine over ‘shockingly lax’ financial crime controls
The Financial Conduct Authority has fined Starling Bank £29 million over failings related to financial crime and its financial sanctions screenings
By Kalpana Fitzpatrick Published