|Bid||6.20 x 0|
|Ask||8.70 x 0|
|Day's range||6.88 - 8.03|
|52-week range||4.30 - 86.05|
|Beta (3Y monthly)||0.88|
|PE ratio (TTM)||N/A|
|Earnings date||25 Nov 2019 - 29 Nov 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||49.49|
It was only a couple of years ago that Australia-based travel company Webjet made a tiny proportion of its profit from business-to-business sales, but in just a short space of time its WebBeds unit has grown to become the number two global player, contributing $46 million in profit (EBITDA). This means that WebBeds is now […]The post How Australia's Webjet Is Building a Global Business by Going Wholesale appeared first on Skift.
Germany's Lufthansa and charter carrier Condor are discussing a possible code-sharing deal that could help save both money on long haul routes, sources familiar with the matter said. Lufthansa had offered to buy Condor, but the sale has been put on hold while the charter airline's cash-strapped owner, Thomas Cook, holds talks on a rescue deal with China's Fosun Tourism. CEO Carsten Spohr is meanwhile under pressure to boost efficiency and profitability at Lufthansa.
European tourism group TUI said the grounding of Boeing's 737 MAX jets was a big burden as it reported a 46% decline in underlying quarterly core earnings (EBITA) on Tuesday. Sterling losses after Prime Minister Boris Johnson took office last month had also discouraged British customers during the peak holiday season, TUI Chief Executive Fritz Joussen said.
(Bloomberg) -- Thomas Cook Group Plc fell the most in a month after the debt-laden travel giant said it needs more than $1 billion for a recapitalization meant to tide it through the winter, when fewer Europeans go on vacation.The U.K. tour operator has made “significant progress” toward finalizing a bailout including an added 150 million pounds ($181 million) from bondholders, it said in a statement Monday. That would be on top of a 750 million-pound package agreed with Cook’s main lending banks and Chinese investor Fosun.The funds “will provide further liquidity headroom through the coming 2019/20 winter cash low period and ensure the business can continue to invest in its strategy,” London-based Thomas Cook said.The 178-year-old holiday firm turned to a debt-for-equity swap as it grapples with a long-term decline in the popularity of package holidays in Europe that has stoked borrowings and shrunk margins. Thomas Cook had almost 2 billion pounds of debt at the end of March.The shares fell as much as 36%, the most since July 12, and were trading 16% lower at 8.1 pence as of 9:54 a.m. in London. The price is down by three-quarters this year, valuing the company at 120 million pounds.Thomas Cook’s 750 million euros ($838 million) of bonds due June 2022 dropped 3 cents on the euro to 24 cents, according to data compiled by Bloomberg.The company reiterated that its refinancing, expected to be in place in early October, will require a reorganization of the ownership of its tour operator and airline businesses as bank and bond debt is converted into equity, significantly diluting current shareholdings.The statement made no mention of Turkish investor and tourism entrepreneur Neset Kockar, who is demanding a role in rescuing Cook after his purchase of a stake led to a temporary surge in the stock.(Updates with bond price in sixth paragraph.)\--With assistance from Luca Casiraghi, Richard Weiss and Irene García Pérez.To contact the reporter on this story: Christopher Jasper in London at firstname.lastname@example.orgTo contact the editor responsible for this story: Anthony Palazzo at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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London's FTSE 100 surrendered early gains on Monday, with Asia-focused shares particularly badly hit by worries over protests in Hong Kong, while tour company Thomas Cook plunged after updating on its recapitalisation plans. The FTSE 100 index ended 0.4% lower, while the midcap index dropped 0.9% as concerns about the health of the British economy, the world's fifth-largest, lingered after data on Friday showed a surprise downturn in the last quarter.
The extra cash will provide further liquidity through the coming 2019-20 winter cash low period, Thomas Cook said. In July, Fosun and Thomas Cook began negotiating a 750 million pound ($903.45 million) rescue that would give the Chinese conglomerate control of the indebted British group's package-tour business. On Monday, Thomas Cook said it had made significant progress towards finalising the key terms of the recapitalisation with Fosun, lending banks and noteholders.
This FTSE 250 (INDEXFTSE: MCX) firm is in far better shape than Thomas Cook Group plc (LON: TCG), and I’d buy some of its shares.
Sterling is the worst-performing major currency since the start of July, sliding against the dollar and the euro as Prime Minister Boris Johnson's government edges towards a no-deal Brexit that could cause significant economic disruption. Unlike travel groups such as TUI and Thomas Cook , On The Beach does not hedge against currency fluctuations, meaning hotel rooms booked in euros are becoming more expensive for customers who take the hit. "With the increased likelihood of a no-deal Brexit, sterling has significantly devalued," the company said.
Thomas Cook Group plc (LON:TCG) looks a bargain, but there may be a better option in rival International Consolidated Airlines Group.
Britain's stock market indexes fell sharply on Monday, joining a sell-off in global markets, as U.S.-China trade tensions prompted investors to seek safe-haven assets, while Ocado and Marks & Spencer fell after sealing a deal to set up an online food joint venture. The FTSE 100 shed 2.5% in its worst day since early December, while the mid-cap FTSE 250 sank 2% and hit its lowest level in two months.
London's FTSE 100 ended flat on Thursday despite a profit miss from Shell and dampened hopes of big U.S. interest rate cuts, while the mid-cap FTSE 250 index slipped after Brexit worries led the Bank of England to cut its growth forecasts. Losses were contained by BAT and as London Stock Exchange surged 6.5% to an all-time high after a deal to buy financial information firm Refinitiv, in which Reuters News parent Thomson Reuters holds a 45% stake.
G A Chester explains why he sees no merit in holding Thomas Cook Group plc (LON:TCG) stock, but would invest in a top FTSE 100 travel group.
* STOXX 600 flat, set for 1st weekly drop since late May * DAX (+0.1%) lags after China trade data, Daimler warning * Daimler falls slightly after profit alert, but peers rally * Autos, Miners, chemical sector leads gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. "We believe we could see further cash/earnings risks as management's strategy and the levels of investment required to achieve their aims becomes clear." Credit Suisse says there remains a debate whether the latest warning reflects a deteriorating business or a kitchen sinking by the new management.
* STOXX 600 up 0.2%, set for 1st weekly drop since late May * DAX (+0.1%) lags after China trade data, Daimler warning * Daimler falls slightly after profit alert, but peers rally * Autos, Miners, chemical sector leads gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: firstname.lastname@example.org DAIMLER: THAT "KITCHEN SINKING" FEELING (1336 GMT) All auto stocks are having a surprisingly strong day. "We believe we could see further cash/earnings risks as management's strategy and the levels of investment required to achieve their aims becomes clear." Credit Suisse says there remains a debate whether the latest warning reflects a deteriorating business or a kitchen sinking by the new management.
London stocks continued to rally on Friday as the heightened prospect of Federal Reserve rate cuts swept optimism across global markets.
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 […]The post Thomas Cook Plans $940 Million Rescue With Fosun as Breakup Looms appeared first on Skift.