The company announced yesterday (22 November) that it was in talks with banks about increasing borrowings amid a “deterioration” of trading in some of its business units. The news sent shares tumbling by 75% in late trading.
It moved quickly to reassure customers that its financial difficulties will not impact service delivery. A social media drive using Twitter and Facebook told customers that their flights, holidays and hotel bookings are not at risk.
A spokesman for Thomas Cook did not rule out a wider reassurance push using above the line channels.
Thomas Cook has issued three profit warnings in 2011, blaming economic uncertainty in the UK and unrest in key Middle Eastern and North Africa destinations of Egypt, Tunisia and Morocco earlier this year.
It is currently undergoing a strategic review of its UK business covering brand positioning and product mix.