Operating loss falls to equivalent of €82 million
Thomas Cook has posted an operating loss of £70 million (€82 million), an improvement from the £93 million loss for the same quarter last year. Total revenue was up 1.3% to £1724 million.
The operator’s new chief executive, Harriet Green, claimed that the results show the business transformation plan is working. She also named the strongest performers.
“We have seen stronger operating performances in our major markets – the UK, Germany and the Nordics,” she said. “Our business transformation is firmly on track. We have further strengthened our leadership team and the pace at which we are driving change gives me confidence that together we will achieve our near-term objectives and much more.”
Thomas Cook’s net debt fell by £86 million to £1559 million and the group describes winter and summer bookings as “robust”. It also says it has recruited 36 new executives for its “leadership team” of 100 people.
[pictured: Hotel Maritim Varadero Beach Resort, Spain]