Thomas Cook seeks cost cuts
Thomas Cook is looking to make "substantial" savings in the UK after admitting that its costs this summer were about £10m higher than expected, mainly due to its airline.
In a trading update released today, Thomas Cook said it had started a review of its UK cost base and it planned to streamline its operations.
"We will report back to shareholders on the outcome of the exercise and actions being taken at the time of our full year results announcement," said the statement. Thomas Cook’s end of year results will be announced on December 1.
In the UK, bookings for summer 2010 were down 1% over last year, which was in line with its capacity cuts, but the average selling price was up 3%.
The operator said it had made ‘an encouraging start’ to the winter season with bookings in the UK up 4% year on year and the average selling price up 1%. Bookings for past four weeks were up 13% over last year.
Its UK programme is now 34% booked, which is 1% ahead of 2009, and early bookings for summer 2011 are up 9% year on year with average prices 4% ahead.
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025