Take over8 Jul 2016 23:06
Thomas Cook lowered its earnings guidance, citing terrorism and over-capacity in the airline industry, pushing shares down almost 20%.
The news came as rumours suggested that the company may be the next travel company to be sold, with shareholder Fosun a likely buyer.
The group said that it was continuing to work on a hotel investment fund to acquire hotels and resorts in its core destination markets, using capital from third-party investors, including Fosun and its portfolio companies. CEO Peter Fankhauser, told analysts: “Fosun is totally committed to give us the money. But given the fact that we have these changes in demand patterns and, therefore, an overwhelming demand to Spain, in Spain the hotels are at their peak.