Thomas Cook on track with Turkey, Greece, Egypt holidays popular
LONDON - Reuters
British holiday company Thomas Cook said it was on track to meet annual forecasts helped by strong demand for holidays to Turkey, Greece and Egypt, and as part of its plan to shift capacity away from parts of Spain where margins are lower.
Thomas Cook said that in Britain, the smaller part of its business in revenue terms compared to its bigger divisions in the Nordics and Germany, France and Belgium, margins were under pressure due to adverse currency moves and hotel cost inflation.
For its first-half, which includes its weaker winter season when fewer Europeans take holidays, Thomas Cook on May 17 posted an underlying loss from operations of 169 million pounds, a 5 percent improvement on last year.
That was buoyed by strong demand for holidays to Egypt and long-haul destinations, improving its first-half performance.