Thomas Cook travel agency needs more money. The company wants to raise another £ 150 million in addition to the earlier announcement of £ 750 million in funding from the Chinese conglomerate Fosun. The Thomas Cook share lost one fifth of its value on the London stock exchange on Monday morning.
Discussions about the 750 million pound capital injection are still ongoing. According to Thomas Cook “significant progress” is being made. In addition to Fosun, talks are also being held with banks and debt holders. The majority agreed with the extra financing.
Thanks to the extra pounds, Thomas Cook can continue to implement his strategy even in the less busy winter period, when less money comes in. The recapitalization must be implemented in the autumn.