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.

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