Share

Thomas Cook shares surge after winter bookings boost

Its update came a day after Tui Group, Europe’s largest travel company, said trading remained robust.

Advertisement

Northern Europe also enjoyed a boost after a slow start to the year, with demand accelerating substantially and summer 2015 holidays 99% sold.

United Kingdom sales were one per cent up on last summer, and bookings in Continental Europe were in line with last year’s figures, helped by a one per cent drop in pricing.

Holiday firm Thomas Cook has said booking volumes and prices for the coming winter were ahead of past year, sending its shares to their highest in almost two months.

The shut down of the country as a tourist destination has resulted in a surge in alternative trips to Egypt and Greece, according to Thomas Cook.

The urge to get away has spilled over into strong forward bookings with 39% of winter holidays already sold.

The popularity of the United States and the Caribbean as summer destinations is also increasing, rewarding Thomas Cook’s recent expansion into more long-haul routes.

“We are also making progress with jointly establishing our hotel investment vehicle”. Therefore, it remains on-track to meet expectations for the full-year.

Cook said its underlying business has continued to develop in line with our expectations, despite the impact of disruption in certain destinations and “significant foreign exchange headwinds”. (TCKGY.PK,TCG.L) Thursday said Summer 2015 holiday programme now nearly fully sold, trading has progressed well overall.

“Over the last three years we have made excellent progress transforming our business”.

Advertisement

“The next phase of transformation will aim to better integrate our businesses across geographies, with a higher quality and more focused holiday offering delivered through our new operating model”.

Thomas Cook has faced a number of challenges this year