Cook reassures over Turkey as travel stocks fall

Cook reassures over Turkey as travel stocks fall

Travel stocks fell again yesterday due to investors unnerved by the failed Turkish military coup.

Although flights to Turkish resorts were unaffected, the situation became the latest incident to hit tourist demand just before the start of the industry’s peak school summer holidays period.

Shares in Thomson-owner Tui dropped to the bottom of the FTSE 100 at one stage, falling 4%, before recovering a little to settle down 19p at 942.5p.

Rival Thomas Cook fell by 5% to the bottom of the FTSE 250, down 3.2p at 60.6p before recovering to just above 63p, as investors calculated the impact of cancelled existing trips, just before schools break up for summer, as well as last-minute bookings failing to come to fruition. 

The Turkish incident came hours after the Nice terrorist massacre.

A statement from Cook group head of customer welfare Carol MacKenzie posted on the company’s website sought to reassure holidaymakers heading to Turkey, which she described as having been in the news for the wrong reasons this year.

“We understand that, for many, the natural response is to question the safety of the country as a whole,” she said.

However, MacKenzie pointed out that the resorts offered by the operator are hundreds of miles away from Istanbul and Ankara and at least 800 miles from Syria – the same distance from London to Prague.

She said: “Our teams in resort are aware of some sporadic roadside checks between Marmaris and Dalaman airport, and there continues to be increased security in place at the airports that serve our resorts.

“Other than these ongoing security measures in Marmaris, the UK Foreign Office have said that the coastal resorts do not appear to be significantly affected.

“Our holiday and flight programmes are operating as normal, and our teams on the ground tell us that customers continue to enjoy their holidays.

“Taking your loved ones anywhere is a serious decision and ultimately of course it’s up to you where you choose go on holiday. Whichever Thomas Cook holiday you choose, you can always be assured that your safety is our first priority.”

She indicated that normal booking conditions remain in place but anyone with concerns about their holiday should contact Cook on 01733 224536.

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