Thomas Cook Group plc: Strategic review for Airline could be credit positive, but the outcome is currently uncertain
The potential sale of the Airline business has significant execution risks. We believe the risks are still on the downside, which is reflected in the B2 CFR rating with a negative outlookThomas Cook Group is a travel company. Co.'s segments include: Group Tour Operator, which includes tour operations and associated activities within Co.'s 17 source markets; and Group Airline, which provides airline-related services, including both scheduled and charter services, and associated activities within Co.'s four airlines.
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