City awaits Thomas Cook trading update
Analysts expect Thomas Cook to post an increased first-quarter loss in its trading update this week, while shareholders will use the meeting to raise concerns about bonus payments.
Ahead of Thursday’s annual meeting, Wyn Ellis, analyst at Numis Securities said: "We remain unenthusiastic about the investment merits of Thomas Cook: We believe that the basic business model continues to face structural challenges."
Jeffery Harwood at Stifel, said: "Last year a £49 million operation loss was incurred in the first quarter.
"We expect some increase in the loss this year, reflecting lower profits in Nordics, difficult trading at Condor and adverse currency translation movements," according to reports in the East Anglian Daily Times and other news outlets.
Meanwhile, the Institutional Voting Information Service (IVIS) and the Institutional Shareholder Services (ISS), are concerned about bonus payments.
The ISS, which represents around 20% of investors in the FTSE All-Share index, has recommended shareholders vote against a long-term incentive plan that could pay chief executive Peter Fankhauser up to £1.6m a year.
ISS says Thomas Cook needs to provide more information about the proposal and ‘has not provided enough information on the possible strategic objectives to be selected’.
The Institutional Voting Information Service has questioned changes to a long-term incentive plan that would see Fankhauser’s pay increase substantially.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports
Phocuswright reveals the world's largest travel markets in volume in 2025