Thomas Cook rides downturn on mid-haul bookings

Thomas Cook has said it is coping well despite the downturn and swine flu by posting better-than-expected results for the full-year. It also said bookings for both winter and summer were holding up well.

The group, Europe’s second largest tour operator after TUI Travel, citied medium hauls destination such as Turkey and Egypt for boosting its balance sheet.

Underlying pre-tax profits for the year to September were £308.2 million. This was marginally lower than last year (0.4 percent) but ahead of a 3 percent fall predicted by city analysts. Revenues rose 6 percent to £9.3 billion.

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