Thomas Cook: summer’s trading is strong
Thomas Cook says it has experienced strong trading conditions this summer and that this winter and summer next year are ahead of last year.
In an interim management announcement, the operator revealed it plans to take steps to increase next summer’s flexibility on capacity, cost base and fuel hedging. It has benefitted from having hedged its crude oil needs at 92% for 08/09.
Group chief executive officer Manny Fontenla-Novoa said: “Trading in the 08 summer season is strong in all markets and early indicators show that we are currently ahead of last year for winter 08/09 and summer 09. While we are encouraged by these early results, we are increasing our flexibility to give us the levers to pull in tougher market conditions, including fuel price hedging and capacity management in all our markets. We have a range of additional optional measures in the UK market, our largest market, which should strengthen our resilience.
“Overall, the progress we are making in realising synergies, the development of our e-commerce platforms, the integration of our new businesses as well as the strength of our management team and financial position stands us in good stead as we look forward. And in the current year, we remain on track to meet our expectations.â€
By Dinah Hatch
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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