Holiday company Thomas Cook is looking to sell its airline business in a bid to cut costs, with rival carriers or private equity investors potential candidates to buy the operation.
The travel firm has been sounding out interested parties over the past few months, according to reports, but has yet to reach a deal.
Earlier this month, the company’s shares took a tumble after it reported a decline in profit for the three months to 31 December.
However, it had been experiencing the positive effects of falling oil prices, and posted a “strong end to the summer season in airlines”, with increased passenger volumes.
Thomas Cook hit headlines in November, when its chief executive Harriet Green departed unexpectedly just days after telling a press conference that the firm’s turnaround was far from over. The reasons behind her sudden leaving are still largely unclear.
The company declined to comment yesterday.