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