Thomas Cook Plunges as Tour Operator Holds Fresh Bank Talks

Thomas Cook Group Plc, Europe’s second-largest tour operator, plunged 75 percent in London trading after a collapse in bookings caused the company to hold fresh talks with banks and delay its full-year results.

Business at the 170-year-old company has deteriorated in the current quarter, while the cash and liquidity position have worsened, London-based Thomas Cook said today, a month after announcing that banks had relaxed loan conditions and agreed to provide additional funds.