Nov 23, 2016

Thomas Cook: flying through flak

Thomas Cook now "Walks in its customers' flip flops", according to chief executive Peter Fankhauser, announcing a resumption of dividends after a five-year break. In 2015 and 2014, Thomas Cook struggled with a critical verdict on a Greek hotel accident and the ousting of high-profile chief executive Harriet Green. Most importantly, Thomas Cook only saved itself from collapse in 2011 and 2012 through a costly refinancing. So there are grounds for optimism on Thomas Cook, whose shares have plunged 28 per cent over 12 months. That looks too steep, but the big Anglo-German holidays group remains tough to beat, having stolen a march on Thomas Cook in the noughties.

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