Under fire holiday operator Thomas Cook is facing further backlash today as stock market analysts branded the firm’s shares “worthless”.
The company’s valued plummeted a further 40%, which has put Brit holidaymakers with bookings abroad on ‘high alert’.
Thomas Cook top brass Peter Fankhauser admitted yesterday that the company had already haemorrhaged £1.4 billion in 2019.
It is believed the firm is saddled with “heavy debts” of around £1.25 billion.
“I just booked for next May to Turkey I really hope you’re not going into liquidation”
Citigroup heaped further misery on the travel outfit on Friday when analysts branded its shares “worthless”, advising that they should be marketed at zero.
And all the bad news has left some customers fearful that their holidays may be cancelled, The Sun reports.
On a Thomas Cook Facebook page, one traveller posted: “I’m flying to Menorca six weeks today. I hope the financial situation will be settled soon.”
Another added: “I just booked for next May to Turkey I really hope you’re not going into liquidation.”
A third fearful punter wrote: “Are you going into administration? Because I have a holiday booked in October.”
However Thomas Cook has said that all its holidays are ATOL-protected – this means that punters will be entitled to a refund if the company goes under.
In a tweet, the firm wrote: “This announcement has no impact on future holidays or flight only bookings.
“All our holidays are fully ATOL-protected, so customers can continue to book with confidence.”
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