Jump to content
House Price Crash Forum
Sign in to follow this  
Ash4781

Thomas Cook Suspends Dividend Payments Until It Has Sorted Out Its Finances

Recommended Posts

http://www.yorkshirepost.co.uk/business/business-news/thomas_cook_axes_dividend_in_move_to_rebuild_finances_1_3823191

Thomas Cook said it won’t pay a dividend until it has sorted out its finances.

Europe’s second biggest tour operator is scrapping its dividend following a string of profit warnings, although it is confident of a deal with lenders ahead of a key test of its financial health in December.

The company, whose chief executive stepped down in August, said it is looking to cut its debt substantially over the next two to three years.

It recently announced a series of measures to turn around its UK business, including plans for the closure of 24 of its 800 retail stores and a reduction in its airline fleet from 41 aircraft to six in order to meet capacity.

.....

Thomas Cook shares have lost nearly 90 per cent of their value over the past 18 months

I'm sure it's been posted already but a December bank covenant test for a tour operator seems tough.

Here's the BBC 12mth share price chart http://www.bbc.co.uk/news/business/market_data/shares/3/87260/twelve_month.stm

I might have a look later at their balance sheet from their reports. I can't guess what the balance sheet assets in the company will be. But with no dividends.....

Share this post


Link to post
Share on other sites
a reduction in its airline fleet from 41 aircraft to six in order to meet capacity

Wow! That's quite a drop in the number of holidaymakers.

Thankfully purchases of luxury yachts are keeping aggregate consumption numbers up.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.