Thomas Cook Group who are a popular operator of Algarve flights and package holidays have issued their third profits warning of the year leaving their shares down 30% as investors took fright. Thomas Cook Group shares now trade at just 72p, a third of their value of over 200p just a year ago. They are now at their lowest level since the merger with troubled MyTravel in 2007.
Thomas Cook Group is well known in Algarve and trades as Thomas Cook Holidays as well as other leading Algarve names such as Airtours, Club 18-30 Holidays, Cresta, Cruise Thomas Cook, Direct Holidays, Elegant Resorts, Flexibletrips, Flythomasco…, Gold Medal, Hotels4u, Manos, Medhotels, Neilson, Netflights, Panorama, Pure Luxury, Sentido, Style Holidays, Sunset, Sunworld Holidays, Swiss Travel Service, Thomas Cook, Thomas Cook Signature, Thomas Cook Tours and Thomas Cook Sport.
All Thomas Cook Group Algarve bookings are fully protected by ATOL so you can rest assured that your money is safe if you have booked a Algarve Holiday with them.
Analyst Morgan Stanley suggested the group would be in “a tough discussion with its banks – we forecast Thomas Cook will come close to its debt covenants in the next six months – while we don’t think it’s that bad, market leaders have collapsed before”.
Press reports indicate that the rival leading Algarve package holiday operator TUI Group is felt to be in a much stronger position financially and it’s share price has proven more stable in the current uncertain market reflecting investor confidence in TUI Group.
If we were looking for peace-of-mind for our Algarve Holiday Booking then the Algarve-Traveller team would feel far happier booking online with either Thomson Holidays or First Choice Holidays given the current financial uncertainty.Share