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LONDON – It has emerged over the weekend that Thomas Cook may sell the airline division of the group in order to raise cash following significant losses last year. This has ultimately sent the group’s shares 12% higher as a result, which could suggest that a significant buyer is on the cards. The group said that the heatwaves across Northern Europe removed a portion of booking, especially on last minute deals, meaning that up to two profit warnings had to be sent out as a result. The Thomas Cook Group is valued at around £540 million but holds net debts of £1.6 billion.