Thomas Cook plunges almost 40% on the stock market, at historic lows

The shares of Thomas Cook Group lost a quarter of their value and sank on Friday by 39.81% on the London Stock Exchange, the second consecutive day with sharp falls, after presenting losses yesterday almost six times higher in its First fiscal semester.

Specifically, the securities of one of the oldest travel company in the world closed at 11.8 pence, its lowest level since July 2012, and touching its highest daily decline since November 2011.

A report by Citi, lowering its rating and reducing the target price of its stock to zero, given the weakness of reserves for summer, after Thomas Cook issued his third ‘profit warning’ (downgrade) in less than a year , has sunk more if possible the price of the British, which accuses the uncertainty of ‘Brexit’.

Thomas Cook is exploring the sale of what is now his most profitable business, that of the airlines, in an attempt to achieve greater liquidity and sustain the financing of his strategic plan in which he will prioritize the holiday business and the own-brand hotels, and as he assures, he has received “multiple offers” for his partial or total purchase, without giving details.

Citi believes that the sale of its air business would provide short-term relief for the tour company and could also encourage a company-wide offer from non-EU entities such as Fosun, Thomas Cook’s main shareholder.