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Thomas Cook Plans $940 Million Rescue With Fosun as Breakup Looms

Patrick Whyte
Thomas Cook

Photo Credit: The Thomas Cook office in Palma, Majorca. The company is in discussions about a cash injection. Thomas Cook

Skift Take

The news isn't great for shareholders, but it does offer some encouragement to employees and anyone who has booked a flight or holiday this summer.

Thomas Cook is in advanced talks with its largest shareholder Fosun Tourism Group over a $940 million (£750 million) injection that will likely see the company broken up. Under the proposal, Fosun will end up owning a controlling stake in the tour operator and a minority interest in the airline. Existing creditors will then take a minority stake in the tour operator and a majority stake in the airline. European Union law prevents companies from outside the bloc owning majority stakes in airlines. The new pl

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