Thomas Cook Slashing Summer Holiday Packages For 2009 As Profits Soar

2 December 2008

http://img162.imageshack.us/img162/7165/thomascook415x275273324yh2.jpgIf you're looking to book a package deal with Thomas Cook next summer, now may be a good time to do so.  According to Thomas Cook Group PLC, 1 in 4 British holidaymakers who took a package holiday this year will not be able to do so next year due to limited supply.

Thomas Cook's CEO, Manny Fontenla-Novoa, said today that the collapse of major tour operators and deep industry-wide cuts mean that there is a limited number of package holidays available for next summer.  Thomas Cook also reported a record operating profit increase for the year until September 30 of £365.9 million – almost 50 per cent up on the previous 12 months.  This was partly due to the collapse of other rivals, but also because of the takeover of competitor, MyTravel, last June.

Canny British holidaymakers are also contributing to the business by not giving in as victims of the credit crunch, booking flights to sunspots like Turkey and Egypt this winter season to divert from high currency exchange rates within the EU zone.

EDIT: Andy of Yarm comments below: "Seriously who is falling for this obvious deception. It’s just a shallow attempt to reel in deposits like everyone else these people are cash starvedThere will be walls and walls and walls of availability next year."

[The Observer]

TOPICS:   Travel

1 comment

  • andy y.
    Seriously who is falling for this obvious deception. It's just a shallow attempt to reel in deposits like everyone else these people are cash starvedThere will be walls and walls and walls of availability next year.

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