Sunny times for Thomas Cook after loss narrows
Losses at travel giant Thomas Cook narrowed in the third quarter as bookings to Greece, Bulgaria and Cyprus drove sales.
The group said it saw a “significant growth” in holidaymakers visiting the three nations, with Greece the standout performer with a 22 per cent increase.
This helped boost revenues by more than 20 per cent to £2.3 billion in the three months to 30 June, meaning that pre-tax losses narrowed from £64m to £31m.
Thomas Cook also confirmed that bookings to Turkey were recovering after terrorist attacks and political instability in the nation hit bookings.
Demand for trips to Egypt and Turkey plunged after the bombing of a plane from the Egyptian resort of Sharm elsheikh and a violent attempted coup by the Turkish army.
Boss Peter Fankhauser said: “Our increased focus on the customer is reflected in a good performance for the third quarter.”