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Holiday consumer rights, Travel consumer advice

Thomas Cook travel still safe

With all the doom and gloom over Thomas Cook travel, the holidays that they have on offer are still some of the best value – plus unlike other online brands they are fully atol protected.

Which means should they go bust, your hard earned money spent on a holiday, is both safe and secure.

Even after the rather stupid rumours about Thomas cook in takeover talks, and even though their shares fell on the news retraction, they are are still higher 75% higher than last week.. Thomas Cook shares fell back by 20% or 5.75p to 22.5p yesterday after takeover rumours earlier in the week subsided.

Investec cut its rating to “hold” little more than a week after sparking interest in Thomas Cook with a “buy”. Analysts from the broker said the “gap between the shares pricing in failure and survival has been bridged”, and it moved its rating down with no certainty on moves to drive the shares higher.

With takeover hopes played down, Cook shares slumped 20.35% to 22.5p, although the level is still nearly 75% higher than last week.

Investec was also worried about the prospect of Europe’s second largest travel group having to raise cash, saying that its banks may demand a reduction on Cook’s debt, and “the most likely outcome in this scenario is the execution of an equity raise”.

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Discussion

One thought on “Thomas Cook travel still safe

  1. The Swiss-based Kuoni group has ruled itself out of bidding for parts of Thomas Cook, saying it “would not make any sense”.

    Posted by travel-travel | March 5, 2012, 1:28 pm

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