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Thomas Cook dives on profit alert

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  #1  
Old 12-07-2011, 08:50 AM
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Default Thomas Cook dives on profit alert

Shares in Thomas Cook have fallen 28% in early London trading.

It comes after the travel company issued a warning that profits would be hit by unrest in the Middle East and North Africa, and by weak UK spending.

Europe's second-largest travel firm said continuing political unrest had affected bookings to destinations such as Tunisia, Egypt and Morocco.

It also said the profitability of its UK business had been hit by the "squeeze" on consumer spending.

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Old 12-07-2011, 10:56 AM
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Of all tour operators Thomas Cook is probably suffering the most from the Arab Spring. They have deep roots in North Africa and especially Egypt where they have been organising tours since the 1880's. Selling volumes of cheap holidays to Egypt, Tunisia and Morocco is a disaster for them.

Thomas Cook is also slightly out of sync with their business model, which still heavily relies on the High Street. Online sales are growing but not fast enough to take cost out of the real estate as fast as they would need/like to.
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Old 12-07-2011, 01:19 PM
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Theres so many different places to get holidays now online I can see why Thomas Cook would suffer. In this climate people are looking for a bargain holiday which means going to other tour operators.
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