December 5, 2018 / 11:06 AM / 4 months ago

Thomas Cook bond trading volumes soared as price hit record low

LONDON, Dec 5 (Reuters) - Trading volume in Thomas Cook bonds soared on Tuesday as the price of its debt hit record lows, according to data from MarketAxess, amid growing worries about the UK travel operator’s debts following a profit warning last week.

Trading volume rose fivefold to 102 million euros ($115.6 million), from 16.6 million euros on Monday. That was also up sharply from 22.8 million euros on Nov. 26, as the world’s oldest travel operator issued its second profit alert in as many months.

Last week, Thomas Cook cut its profit guidance and suspended its dividend, blaming a summer heatwave that swept northern Europe for deterring people from going on holiday.

$1 = 0.8821 euros Reporting by Josephine Mason and Helen Reid; Editing by Mark Potter

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