Thomas Cook sticks with cost cutting mission May 15, 2014 SHARES in Thomas Cook took a 12.6 per cent dive yesterday, despite the holiday firm narrowing its losses as expected and raising its cost-saving targets. Analysts pointed to a cautious outlook for UK holiday sales, made worse by the ongoing difficulties in Egypt, as well as investors taking profits following a 43 per cent increase [...]
Summer season brightens sales at Thomas Cook March 28, 2014 HOLIDAY operator Thomas Cook yesterday said it had enjoyed a pick-up in summer bookings in the second quarter of the year but warned that holiday-goers opting to go on shorter breaks had caused average prices to fall. The 173-year-old travel group said that 50 per cent of summer holidays had already been sold – one [...]
Thomas Cook’s summer bookings leave Numis upbeat March 27, 2014 Thomas Cook’s said today that, while growth’s on track, continued unrest in Egypt made winter trading difficult, describing performance as satisfactory. But Numis has stressed that the interim management statement reads well, and it’s expecting it to fuel “good short-term momentum” in shares. The travel provider saw 93 per cent of its winter season booked, [...]
Thomas Cook wins big at the PwC Plc Awards March 6, 2014 THE GONGS were flying at the Grosvenor House Hotel last night for the PwC Plc Awards. Host Mishal Husain (of BBC fame) told the crowd how organiser Ian Restall likes to keep a tight ship and sure enough it was all over by 10pm with award-giving kept to an unusually neat 35 minutes. The Lazarus [...]
Ex Co-op chief executive steps down from Thomas Cook board January 15, 2014 FORMER Co-op Group chief executive Peter Marks has announced his resignation from the board of Thomas Cook, according to the tourism firm. Marks will finish his time at the company after the group’s AGM in February, and be replaced by Emre Berkin, currently a non-executive director of Thomas Cook. “I would like to thank Peter [...]
Thomas Cook boss paid £2.8m December 16, 2013 TRAVEL group Thomas Cook has awarded its new boss Harriet Green £2.85m for her first full year in charge of an ambitious recovery plan. Green, who has led a £305m rights issue and cost cutting measures since joining the firm in July 2012, hit every target needed to get her full £1.8m cash bonus. Chief [...]
Thomas Cook sells holiday extras business Essential Travel for £2m December 11, 2013 THOMAS COOK yesterday sold its travel add-ons website Essential Travel to rival firm the Holiday Extras Group for £2.1m. The company said that it will still offer its customers the same services after striking a deal for Holiday Extras to be its exclusive distributor of certain extra travel products such as airport parking, airport hotels [...]
Thomas Cook’s cost cuts deliver return to profit November 28, 2013 THOMAS Cook shares leapt 14.7 per cent yesterday after the travel group said the first full year of Harriet Green’s turnaround plan had produced more cost savings than expected. The firm also beat forecasts with a 49 per cent rise in underlying earnings to £263m, while revenues rose 1.3 per cent to £9.3bn. On a [...]
Thomas Cook sells Neilson to Luke Johnson November 25, 2013 LUKE Johnson, the serial restaurant entrepreneur best known for putting Pizza Express on the map, yesterday struck a deal to buy specialist sports travel group Neilson from Thomas Cook for £9.15m. The deal is Johnson’s second in the travel sector this year after his investment vehicle Risk Capital bought a majority stake in online holiday [...]
Thomas Cook sells forex business November 18, 2013 THOMAS Cook has sold its corporate foreign exchange business for £4.5m, as part of its continued drive to pay down debts and turn itself around. The travel firm announced yesterday it has offloaded Thomas Cook Corporate Foreign Exchange to Moneycorp, a rival operator owned by the Royal Bank of Scotland’s Special Opportunities Fund. However, it [...]