Strong all inclusive demand aiding Thomas Cook sales
Strong demand for all inclusive summer holidays has led to Thomas Cook describing UK trading as “robust”.
The company said that despite the “challenging trading environment” its performance has strengthened in recent weeks.
This reinforced confidence in meeting its expectations for the year.
For the current winter there is a continuing “clear trend” towards later bookings.
“Despite the distorting impact of a later Easter, bookings have improved significantly in the last four weeks, particularly in our Continental and Northern European segments,” Thomas Cook said.
“Average selling prices are up year on year and load factors on departed flights remain at least at last years’ levels.”
Overall bookings for winter from the UK are down by five per cent based on capacity reduced by the same level. The average selling price up seven per cent year-on-year and 13% ahead in the last four weeks.
“We continue to focus on medium haul destinations to take advantage of strong Easter demand (in conjunction with its later occurrence this year) and the high selling prices we achieve in those markets.”
Thomas Cook described summer trading from the UK as “robust” with more than half of total capacity sold, in line with last year
Cumulative bookings are tracking in line with capacity reductions of 11%.
“Having successfully focused on selling the months on either side of the July/August peak, we now have 14% less left to sell than last year in these shoulder months. Given that mix we are pleased to have driven average selling prices up 9% overall,” said Thomas Cook.
Demand for all inclusive holidays is strong, accounting for 40% of summer bookings, up nine per cent year-on-year, with bookings up 49% year on year in the last four weeks.
“Demand for medium haul, which now represents 69% of our total summer charter programme, is good, and particularly strong to Turkey where we are the market leader,” the company said.
“Renegotiating terms with hoteliers has enabled us to remain competitively priced and stimulate demand, and we remain confident bookings will continue to trend towards our planned capacity.
“Cumulative average selling prices are ahead of last year in all markets, apart from North America where it is still very early in what is their off-peak season.
Thomas Cook revealed that chief financial officer Juergen Bueser is on a temporary leave of absence due to ill health. Group operations CEO Ludger Heuberg, who previously held the role of chief financial officer, has been appointed acting chief financial officer in addition to his existing role.
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