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Hedge funds could reap as much as $250 million from the collapse of British tour operator Thomas Cook

While the bankruptcy of British tour operator Thomas Cook has left hundreds of thousands of travelers stranded , a group of hedge funds are poised to make as much as $250 million from the company's collapse.
Funds including Sona Asset Management and XAIA Investment owned derivative investments called credit default swaps, which pay investors when a company can no longer service its debt, Bloomberg said in a report.
The company entered into compulsory liquidation on Monday after efforts to restructure it's debt with key investors failed, according to a statement .
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Travel Company Thomas Cook Goes Bankrupt, Tourists Stranded

8 monthes ago | By NPR

British travel company Thomas Cook has collapsed, leaving 150,000 British vacationers stranded overseas. NPR's Steve Inskeep talks to Financial Times reporter Daniel Thomas.
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British travel firm Thomas Cook collapses, leaving hundreds of thousands stranded

8 monthes ago | By Reuters

The world's oldest travel firm Thomas Cook collapsed on Monday, stranding more than half a million holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history. Ciara Lee reports
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Hundreds of thousands stranded after British travel firm Thomas Cook collapses

8 monthes ago | By Reuters

Hundreds of thousands of holidaymakers were stranded on Monday by the collapse of the world's oldest travel firm Thomas Cook , sparking the largest peacetime repatriation effort in British history.
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Thomas Cook leaves thousands stranded after financial collapse

8 monthes ago | By New York Post

LONDON - British tour company Thomas Cook collapsed early Monday after failing to secure emergency funding, leaving tens of thousands of vacationers stranded abroad. The British government said the return of the 178-year-old firm's 150,000 British customers now in vacation spots across the globe would be the largest repatriation in its peacetime history. The process...
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