Thomas Cook encouraged by future sales
Thomas Cook reported strong booking and pricing trends for winter 2015/16 and summer 2016 as it released its pre-close trading statement today.
It said 39% of the winter season is sold and all its major source markets are ahead of last year in terms of booking volumes, with improved pricing trends particularly in the UK and Northern Europe.
Summer 2015 is around 91% sold for the Group as whole, and 95% sold in the UK, 1% ahead of the same time last year.
Average selling prices in the UK have increased by 4% both for package (charter risk) holidays and for seat only bookings on Thomas Cook Airlines.
It said the expansion of its seat only business within the product mix has led to a slight decline in the blended average selling price, but ‘in spite of this, the UK continues to perform comfortably ahead of last year’.
The update said with Tunisia effectively closed, there has been a significant rise in the number of customers travelling to Greece and Egypt.
Meanwhile, its strategy to invest in long haul routes is paying off, with ‘particularly strong growth’ in holidays to the US and the Caribbean.
Chief exectuvie Peter Fankhauser said: "Our trading performance for the summer season has progressed well, despite the impact of external shocks in certain destination markets, as previously announced.
"With more than a third of the winter 2015/16 season sold, the bookings profile for next year is also encouraging.
"Over the last three years we have made excellent progress transforming our business. We have developed a strong core holiday proposition based around our own-brand hotels, reduced our cost base, and strengthened our capital structure.
"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.
"With the benefit of our strong brands and through our absolute focus on customer needs, I am confident that this strategy will lead to an even better holiday experience for our customers, further improving our growth and profitability, and increasing returns to shareholders."
Thomas Cook plans to announce its results for the year ended September 30 2015 on November 25.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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