Thomas Cook India

The issue that I see is one cannot understand Unit Economics in Thomas Cook they way they disclose data. E.g. Digi: pricing/location/spreads/input costs/ nothing. It is a black hole; same issue with Sterling or Travel&Related vertical. They virtually run 4 companies in one and therefore need to go granular with the data for markets to understand.

The AGM is on September 28; and would encourage shareholders to attend and ask Management for understanding of unit economics.

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