The firm is being buffeted by a number of factors: financial, social and even meteorological.
Six months ago shares in Thomas Cook were trading at just below 150p. Now, after two profit warnings, they are worth just a fraction of that price.
Stuart Gordon, an analyst at investment bank Berenberg, has followed Thomas Cook's financial performance closely. "There is a feeling the company may have to ask its shareholders for more money," he says.
The firm has blamed its drop in profits on a prolonged UK summer heatwave hitting overseas bookings. Meanwhile, winter bookings are also down by 3%.
Get the full story at BBC News