Thomas cook reaches seasonal loss of 109 m
This is an increase of 54 million pounds (64.75 million euros) compared to the 37 million pounds (44.3 million euros) of seasonal losses with which ended the same year 2011 period.
As reported yesterday HOSTELTUR news tourism in TUI Travel closed with losses of 131 M € Q1, its main competitor attributed the main reason for the losses to the reduction of demand to North Africa, where difficulties remain. Thomas Cook also mainly attributed them to this motive, which is added to the usual losses in the off-season.
However, as it has also happened in the case of TUI, the turnover has risen in the quarter ended December 31. Thomas Cook earnings reached 1,861 million pounds (2,230 million euros), representing an increase of 3% YOY.
This increase is due, according to the group, to the increased activity in the North of Europe and its airline in Germany, as well as the contribution of joint ventures with The co-operative Travel and Russia.