22nd Mar 2016 07:29
LONDON (Alliance News) - Thomas Cook Group PLC on Tuesday said the winter 2015/16 holiday season is closing as expected, but summer bookings so far are lower than this time last year as they continue to be disrupted by a "volatile geopolitical backdrop".
The travel company said 90% of the winter season is sold, as expected, with higher pricing in most source markets. Summer 2016 is 40% sold, with bookings below last year.
Thomas Cook warned that market conditions remain challenging, as consumer confidence is affected by continued disruption in certain key destinations, although it has benefited from rebalancing capacity to countries such as Spain and other long-haul destinations from countries that have been receiving lower demand, such as Turkey.
"Thomas Cook continues to operate in a volatile market environment. We know that customers want a summer holiday, but we can see that some are leaving it later to book this year as they consider their options," Chief Executive Peter Fankhauser said in a statement.
"Against this backdrop I remain confident that we are doing all the right things as a business. It's clear also that customers value packaged travel more than ever and feel safer in our hands," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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