With massive losses over £1 billion, sales falling and its biggest competitor in the UK, Jet2 taking more bookings from purely online sales, the Thomas Cook Group’s days look numbered as an independent company.
With bids for its airline business already under negotiation with Lufthansa and Virgin Atlantic, the holiday group itself is now being chased by Chinese group Fosun.
The companies shares have fallen 40% and Fosun, which is barred from taking on the airlines by EU law, is in talks to buy up the rest of the group.
The question is can Thomas Cook offload the airlines and raise the cash to protect itself, or is it simply devaluing the airlines as a distressed sale?
The company are in something of a Kobayashi Maru scenario. It’s not the way you survive that counts, but the way you deal with a seemingly inevitable demise. How many jobs can you protect and what’s best for the people who’s lives depend on you?