Business

Thomas Cook says bookings ahead of a year ago on expanded European offering

Thomas Cook says bookings ahead of a year ago on expanded European offering

In the United Kingdom, winter bookings are five per cent higher, with prices one per cent lower, while it said average selling prices are nine per cent higher for the summer.

It said bookings for holidays in Greece were now up by more than 40%, while Spain had also done well.

Demand for bookings to Greece were up 40 per cent compared to a year ago.

Revenue grew 1% to £1.6bn in the three months to 31 December while operating losses narrowed by 2%.

He said the group would not be drawn into a price war and had "taken a deliberate decision to focus on higher margin, quality holidays".

It said its summer programme was now 31% sold, 2 percentage points higher than this time past year. He said these include Cyprus, Bulgaria and Croatia.

He said there was no sign that Britons had generally been put off foreign holidays by the weakness of the pound, though this had seen a drop in demand for trips to the US.

However, UK bookings for the key summer period are now flat, with average selling prices two per cent higher.

This monster tornado just rolled through New Orleans - major damage reported
Snother touched down near the town of Donaldsonville and another in the town of Killian, the National Weather Service said. More than 17,000 people in Louisiana were without power, according to utility company Entergy's outage map.

Sterling has sunk to 31-year lows against the USA dollar since the Brexit vote.

The world's oldest holiday company said almost a third of its summer holidays have been sold, with bookings nine percent ahead of this time past year.

Analyst Laith Khalaf at Hargreaves Lansdown said the broadly flat like-for-like revenues and losses probably represented a small victory against the unfriendly backdrop.

The asset manager used its clout to vote against several of the remuneration resolutions put forward by Thomas Cook - including the re-election of the remuneration committee chairman and its members - at the travel company's February 9 annual meeting.

Faced with the rebellion, Thomas Cook said it would not use the SSIP in the current financial year and would consult with shareholders before activating it.

Shares in the firm were down by nearly six per cent this morning.

But there are concerns over a clause that would allow Mr Fankhauser to claim up to 225 per cent of his £703,800 annual salary - a potential £1.6m - according to investor group Institutional Shareholder Services.


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