Egyptian turmoil costs Thomas Cook millions in lost sales
Unrest in Egypt is costing Thomas Cook a hell of a lot of holiday lolly - in the first half of the year, the company lost £131m as tourists chose to stay away from their Egyptian resorts. That’s a loss of a quarter of a million tourists compared to the same period last year.
Its discouraging news for the travel operator, who had an annus horribilis in 2011 and has been recovering under new management (as long as we don’t mention the poor air stewards who are forced to run a skeleton crew on Thomas Cook’s flights, and are close to breaking point).
CEO Harriet Green is keeping the company buoyant by cutting costs left right and centre, (see above) and selling off certain divisions of the business – as well as shutting high street travel shops and concentrating on online selling.
But they’re going to have to come up with something amazing to counter the lack of popularity of its Egyptian resorts, and market analysts are grumbling that the pressure is definitely on Thomas Cook to come up with the goods.
Maybe they need to move out of Egypt and go somewhere just as warm but less unpredictable. I hear Syria is supposed to be very pleasant at this time of year?