Thomas Cook (TCG:xlon) shares are down 95% since June last year as profitability has deteriorated and investors have questioned the company's ability to honour its liabilities. But the big news today is a rescue plan led by Chinese Fosun Tourism Group providing $522mn in capital in an overall rescue deal of $1.1bn. While the news is positive for bondholders, shares are down 17% in today's trading session as Fosun is acquiring 75% of the tour operator division and 25% of the airline. The 2022 6.25% bond was up 48% initially but is now only up 7% for the session.