Thomas Cook is raising its prices

Samuel SharpFeb 11, 2017

However, UK bookings for the key summer period are now flat, with average selling prices two per cent higher.

"Continued reductions in bookings to Turkey have been more than offset by strong demand for Greece", the company said of its holidays for summer 2017.

There was mixed news from tour-operator Thomas Cook on Thursday.

Revenue for the first quarter rose by 1 per cent to £1,618m, with the usual seasonal loss £1m lower at £49m.

Greece was now its "stand-out" destination, with 2.5 million holidaymakers booked for this summer.

Thomas Cook's annual report said it meant to give him the chance to achieve an award of 200% of his base salary for 2017 to reflect his significant impact on the business. In addition, its online division saw strong growth, rising up over 20 percent in the United Kingdom and double that figure in Germany.

"Bookings are already nine percent ahead of a year ago, which ought to offer some comfort".


He said there was no sign that Britons had generally been put off foreign holidays by the weakness of the pound, though this had seen a drop in demand for trips to the US.

"As a result, overall United Kingdom charter risk bookings are slightly behind last year's levels, while pricing is up 9%", the group said.

Analyst Laith Khalaf at Hargreaves Lansdown said the broadly flat like-for-like revenues and losses probably represented a small victory against the unfriendly backdrop.

Standard Life Investments - Thomas Cook's second biggest shareholder with a 13 per cent stake - confirmed it voted against several resolutions, including the re-election of remuneration committee members.

The results came hours before Thomas Cook's annual general meeting at which Mr Fankhauser was expected to come under pressure over his pay package - a year after the last AGM saw a quarter of investors stage a revolt.

Shareholders accounting for a third of voting shares officially opposed a "strategic share incentive plan" that would have paid chief executive Peter Fankhauser and chief financial officer Michael Healy up to 225 per cent of their salaries, says The Times.

Related Articles:



« Previous article
Next article »


Popular Pages

Rio Tinto Bounces Back with $4.62 Billion in Profit in 2016
Rio Tinto has ridden the commodities wave over the previous year , with its share price nearly doubling. The company generated operating cash flow of U.S. $8.5 billion and cut cash costs by US$1.6 billion.

Refugee resettlement deal between Australia and United States 'will continue'
"The thing you have to understand about Donald Trump is that he is not a natural diplomat, he is not a politician", he said in an interview.

EIA raises Brent price forecast to $55 for 2017
Stockpiles at Cushing, Oklahoma, the biggest U.S. storage hub and the delivery point for WTI, climbed 1.14 million barrels. Oil prices are staying low on data showing USA crude inventories have increased ahead of expectations.

12 dead following landslide in Bali
A national disaster agency spokesman said the landslide hit at about 23:00 on Thursday (1500 GMT), and was caused by heavy rain. Landslides and flooding have killed at least 12 people on the Indonesian island of Bali , it was confirmed on Friday.

Back Brexit bill, Jeremy Corbyn orders Labour MPs
Mrs May has warned potential Conservative rebel MPs they will be "obstructing" the will of the people if they vote with Labour and the SNP to change the Bill.

Apple hires Amazon Fire TV head to lead Apple TV
Apple's "other products" category, which includes the Apple TV, generated a little more than 5% of Apple's sales in fiscal 2016. Apple confirmed the report to Bloomberg , saying that Twerdahl joined the company earlier this month.

Harry Kane Reflects on Tottenham's Ascension and Mauricio Pochettino's Influence
And speaking ahead of tomorrow's trip to Anfield , Spurs boss Mauricio Pochettino said: "We have many leaders and captains". We all feel the same, we all want to win, we've all got the same goal. 'Enthusiasm is important, your own motivation.

Packers pull the plug on Starks
He was released with a non-football injury designation, but according to Ian Rapoport , he will be healthy going forward. He scored nine career touchdowns for the Packers and rushed for over 2,500 yards.

Bucks SF to Undergo Season-Ending Knee Surgery
Parker left Milwaukee's game Wednesday night, February 8th against the Miami Heat in the third quarter with a sprained left knee. Will Parker come back anything like the player he was becoming? But, as released on Thursday afternoon, the news was much worse.

Netflix has confirmed that The OA will return for a second season
Based on that success, Netflix has announced that it will go forward with a second season of the series. Previously blind, she now possesses sight and odd scar markings on her back.