Thomas Cook Reports Further Losses

The global travel industry has been struggling with the global economic downturn and many travel agents have found that conflicts also cause a downturn in trade.

Thomas Cook has been struggling for a while and been forced to sell assets (such as hotels, airlines etc.) to repay growing debts.

Currently the business debt is around £1bn, and there are no signs that there will be any turnaround, as recession continues to grow ever deeper and conflicts in the Middle East continue to keep tourists away.

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