Thomas Cook shares jumped 47% on Thursday in anticipation of an announcement the travel giant has secured the £100m loan it needs to avoid going bust.
The shares moved 5.23p higher to 16.35p as banks such as HSBC, Barclays and Unicredit put their support behind the holiday company, according to the Telegraph. Thomas Cook needs £100m to get through the next month - a seasonally quiet time for holiday bookings - after already seeking a £100m loan just last month. Investment Week reported on Tuesday the tour operator's share price nosedived 73.8% or 30.34p, to 10.77p following the announcement it is seeking more capital. The group is also considering the closure of around 200 travel agencies.
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
