Thomas Cook Group in strong position for upcoming lates market
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The Thomas Cook Group has claimed it is standing in good stead for the upcoming lates market with 19% fewer holidays to sell than this time last year.
Chief executive Manny Fontenla-Novoa said the strong position comes following the operator’s 10% reduction in capacity following last summer’s merger with MyTravel while average selling prices are 2% up year on year.
He added: “Over the past 12 months we have laid strong foundations for future growth. I am satisfied with our current trading and am confident in our strategy to grow the business.”
Speaking at the group’s inaugural annual general meeting yesterday, Fontenla-Novoa added the 2007/08 winter season had also gone to plan with bookings 5% down in line with capacity cuts of 5%.