UK's Thomas Cook mulling airline sale: Sunday Times

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% 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. Airline bookings rose 18% in the first half of its financial year, boosted by the collapse of Air Berlin and Monarch. <br/>