Firm writes down value of My Travel and says UK customers are delaying holiday bookings
Thomas Cook plunged deeper into the red and issued a fresh profits warning as the struggling travel company warned that UK customers had postponed travel plans for this summer because of Brexit uncertainty.
Shares tanked 17% to 19p after the company made a pre-tax loss of £1.5bn for the six months to 31 March, which was mainly down to a £1.1bn write-down of the value of MyTravel, the UK package holiday business that it bought in 2007. If followed a £303m loss in the same period last year. Thomas Cook said it had revalued MyTravel “in light of the weak trading environment”.