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Thomas Cook shares take a dive
Shares in Thomas Cook plunged more than 10 per cent yesterday after the tour operator warned its shareholders this weekend that it was in danger of administration if they failed to support two planned disposals at its general meeting next week. The company said some of the debt lifelines it secured earlier this month will only become effective if investors approve plans to sell and lease back planes and the disposal of five Spanish hotels. The dire share price performance came as Michael Healy, who will replace as Paul Hollingsworth as finance chief on 1 July, joined to begin the handover.