Thomas Cook reports “considerable improvement†in summer sales
Tuesday, 25 Mar, 2010
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Thomas Cook reported “good progress” in trading for summer 2010 with fewer late sales anticipated.
The travel group said there had been increased sales in recent weeks resulting in an improvement in the cumulative booking position across all our major markets.
“Cumulative average selling prices have continued ahead of last year in the UK and Northern Europe,” the company said ahead of its Annual General Meeting at lunchtime today.
Summer holidays sales have shown “considerable improvement”, with bookings up 30% in the last four weeks and cumulative bookings ahead of planned capacity levels.
Thomas Cook has sold 54% of its summer capacity, with five per cent less left to sell for the season than at the same time last year. There is 17% less left to sell for May and 10% less for June.
Average selling prices remain two per cent ahead of last year.
This reflects a shift in mix away from higher priced long haul to lower priced but higher margin medium haul.
“We would expect prices to trend upwards against last year as less lates activity is anticipated,” Thomas Cook said.
Independent businesses were described as trading well ahead of last year’s level, with bookings up around 90% at Hotels4U and 40% at Gold Medal Netflights Retail.
The winter programme just ending is 91% sold, described bed as being broadly in line with last year.
“Recent bookings have improved strongly, with the resulting cumulative booking position trending towards capacity levels. Average selling prices, up six per cent year on year, have been fairly stable throughout the season.”
by Phil Davies
Phil Davies
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