Thomas Cook showing signs of improvement

A strong lates market has helped boost prices and load factors for Thomas Cook’s summer 2012 programme.

Releasing a short trading update today, the group said the summer programme is now almost complete, with cumulative bookings tracking ahead of planned capacity in most markets.

It said booking trends in the summer 2012 lates market have been good, with holidays to Turkey, Spain and Greece the most popular destinations for last minute bookings.

For the UK, average prices for sales to September 23 are up 8% compared to last year. Bookings are 9% down, but against an 11% cut in capacity.

This compares with a trading update in July in which average prices were up 7%, cumulative bookings down 7%, with a 12% cut in capacity.

"The UK turnaround plan is delivering against its objectives and the group’s quarterly financial trend is showing signs of improvement," said the statement.

"We continue to expect that the full year results will be in line with market expectations and the guidance given at the August IMS."

Thomas Cook’s new group chief executive Harriet Green (picture above) added: "I have spent my first two months reviewing the business, learning about our customers and meeting our people across the world.

"Working together with the management team, my priority has been to ensure a renewed focus on delivering to our plans for the current financial year, reviewing our approach for the forthcoming year and developing our objectives to grow and strengthen the business for the future."

The Group will report full year results on November 28 2012.

by Bev Fearis