Mar 28, 2017

Greece uplift helps Thomas Cook boost sales

Thomas Cook, the package tour operator, has said the holiday market is starting to recover from the terrorist attacks and political upheaval that damped demand last year as it reported a rise in summer bookings. In a trading update on Tuesday, Thomas Cook said a sharp fall in demand for Turkey and Egypt had been offset by an expanded offering to alternative destinations, such as Greece. Overall summer bookings were up 10 per cent compared with 2016, when holidaymakers had changed their plans due to security risks after terrorism and political turmoil in Belgium, France, Turkey and Egypt. The group said that in the UK, where Thomas Cook has indicated it is pursuing higher margins rather than volume, bookings for this summer were flat and average prices were up 3 per cent compared with last year. Jefferies analysts described the summer booking figures as "Healthy" and said that "Increased agility and the absence of incremental external factors of note allow Thomas Cook to focus on implementing its strategy".

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