Thomas Cook posted a further loss before tax of £713 million (€886 million) for the six months ending March 31. That compares with a £269 million loss for the same period the previous year. Adding to the loss from operations was its purchases of additional businesses in the UK and in Russia.
However, the tour operator blamed the “difficult trading environment”, especially the impact of the Arab spring on France, where the group saw an increased loss of €21 million. Thomas Cook also suffered poor trading in North America, which was €31 million worse than the previous year.
The group also admitted that “as a result of the adverse publicity” it has received, “we suffered a weakening in brand sentiment”.
[pictured: Hotel Maritim Varadero Beach Resort, Spain]