Tour operator chooses to reject cash injection of €480 million
The decision of struggling tour operator colossus Thomas Cook to reject a new cash injection of around €480 million reveals a “degree of confidence” within the company, according to financial analysts. The new investment plan had been assembled by Clive Jacobs, owner and chairman of Travel Weekly Group, and Terry Fisher, formerly of Airtours, but it was rejected by Thomas Cook’s chairman Frank Meysman.
“It’s not so long ago that Thomas Cook would have jumped at the chance of fresh investment,” one equity analyst commented, adding that there was now a “degree of confidence” inside the company. Thomas Cook has seen the value of the company plummet from €2.4 billion at its peak to €240 million today.
[pictured: Hotel Maritim Varadero Beach Resort, Spain]