, Columnists
Thomas Cook Needs to Book a Solution
There’s a path for the travel company to reverse a serious loss of investor confidence, but the journey won’t be smooth.
Liftoff will be tough, but it’s possible.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Thomas Cook Plc is on a trip it would rather forget.
The company is battling a crisis of investor confidence. A rough 2018 for bookings hammered the share price and leverage has soared. At the latest seasonal peak, net debt of 1.6 billion pounds ($2.1 billion) dwarfed its market capitalization of 330 million pounds.