Egypt unrest impacts Thomas Cook’s winter

Holidaymakers are avoiding Egypt still
Holidaymakers are avoiding Egypt still

Thomas Cook revealed on-going trouble in Egypt has dented its overall UK booking figures for the winter period.

Its latest trading update revealed bookings at the company are down 2%, with the average selling price decreased by 3%.

However with Egypt out of the equation bookings were up 2%. Prices in other resorts were impacted by those heading to areas outside of Egypt, with more holidaymakers also opting for one-week breaks.

The travel company said 93% of its winter programme has been sold and looking ahead has 50% of its summer breaks sold.

In summer prices are down again by 2% but it has caused bookings to raise 3%.

Harriet Green, group CEO of Thomas Cook said: “Delivery of our strategy of sustained profitable growth remains on track and our trading, with increased summer bookings, is encouraging.  Winter trading has been satisfactory, despite the significant market disruption caused by continued unrest in Egypt, as our businesses have worked successfully together to offer our customers a wider choice of destinations.”

She added: “Compared with last year, margins are expected to improve more than average selling prices, reflecting enhanced yield management and the benefits of our cost out and profit improvement programme, which is delivering ahead of schedule.  Finally, having successfully completed the disposal of our interest in The Airline Group, shareholder in NATS, I am pleased to confirm the delivery of our disposals target 18 months early.”

 

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