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FOSUN INTERNATIONAL LIMITED

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Delayed Hong Kong Stock Exchange  -  04:08 2022-09-30 am EDT
4.870 HKD   +1.04%
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UK's Thomas Cook mulling airline sale: Sunday Times

07/28/2018 | 04:49pm EDT
Illustration photo of a Thomas Cook logo

LONDON (Reuters) - British travel company Thomas Cook is considering splitting off its airline and selling a stake to an outside investor to reduce debt, the Sunday Times newspaper reported.

The newspaper, citing unnamed industry sources, said internal discussions were at an early stage and no change was likely imminently.

However, the sale of a stake in the airline - possibly to Chinese conglomerate Fosun, an existing 12 percent shareholder in the group - would make it easier for both the travel business and the airline to expand, the newspaper said.

A Thomas Cook spokesman told the newspaper that the company had previously said it was open to industry consolidation but that it had "no current plans" to sell its airline.

Thomas Cook said in May that it was on track to meet analysts' expectations of a 7 percent rise in its post-operating profit to 352 million pounds ($461 million) for the 12 months to Sept. 30, on a constant currency basis.

Airline bookings rose 18 percent in the first half of its financial year, boosted by the collapse of German and British rivals Air Berlin and Monarch.

(Reporting by David Milliken; Editing by Matthew Mpoke Bigg)


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
FOSUN INTERNATIONAL LIMITED 1.04% 4.87 Delayed Quote.-42.09%
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Analyst Recommendations on FOSUN INTERNATIONAL LIMITED
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Financials
Sales 2022 183 B 25 715 M 25 715 M
Net income 2022 8 911 M 1 253 M 1 253 M
Net Debt 2022 136 B 19 079 M 19 079 M
P/E ratio 2022 4,16x
Yield 2022 4,95%
Capitalization 36 498 M 5 130 M 5 130 M
EV / Sales 2022 0,94x
EV / Sales 2023 0,88x
Nbr of Employees 106 000
Free-Float 27,4%
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Mean consensus BUY
Number of Analysts 8
Last Close Price 4,41 CNY
Average target price 8,76 CNY
Spread / Average Target 98,5%
EPS Revisions
Managers and Directors
Qi Yu Chen Co-Chief Executive Officer & Executive Director
Xiao Liang Xu Co-Chief Executive Officer & Executive Director
Ping Gong Chief Financial Officer & Executive Director
Guang Chang Guo Co-Chairman
Qun Bin Wang Co-Chairman
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