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FOSUN INTERNATIONAL LIMITED

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Thomas Cook mulling airline sale - Sunday Times

07/28/2018 | 04:50pm EST
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)


ę Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
CHANGE INC. -2.73% 2282 End-of-day quote.-35.26%
FOSUN INTERNATIONAL LIMITED -3.88% 8.92 End-of-day quote.-26.77%
JUST GROUP PLC -5.51% 78.9 Delayed Quote.12.88%
WILL GROUP, INC. -1.38% 1431 End-of-day quote.42.25%
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Analyst Recommendations on FOSUN INTERNATIONAL LIMITED
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Financials
Sales 2021 155 B 24 287 M 24 287 M
Net income 2021 12 046 M 1 887 M 1 887 M
Net Debt 2021 126 B 19 721 M 19 721 M
P/E ratio 2021 4,99x
Yield 2021 4,59%
Capitalization 60 885 M 9 524 M 9 536 M
EV / Sales 2021 1,20x
EV / Sales 2022 1,14x
Nbr of Employees 78 000
Free-Float 27,4%
Chart FOSUN INTERNATIONAL LIMITED
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Fosun International Limited Technical Analysis Chart | 656 | HK0656038673 | MarketScreener
Technical analysis trends FOSUN INTERNATIONAL LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 10
Last Close Price 7,31 CNY
Average target price 11,07 CNY
Spread / Average Target 51,3%
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
Hou Lin Zhang Co-Chief Financial Officer & Senior Vice President
Li Gang Zhang Co-CFO & GM-Financial Management
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