Sun and slopes help Thomas Cook shine - Business - Evening Standard
       

Sun and slopes help Thomas Cook shine

Bank of England Governor Mervyn King may have declared yesterday that the UK is facing its worst slump since the Second World War, but the great British holidaymaker will not be put off.

Thomas Cook today said business remains strong as its customers prove unwilling to give up their week in the sun or on the slopes. Europe's second-biggest travel agent is also benefiting from the demise of rival operators such as XL.

The group is confident of meeting full-year expectations as its decision to cut capacity pays off. Its UK arm has already sold 43% of its holidays for this summer, so has 10% fewer holidays to sell than last year.

It also trimmed seasonal losses for the three months to the end of 2008 to £27.4 million, from £57.3 million a year earlier.

But Thomas Cook added that the strength of the euro has made sun-seekers look beyond the single-currency countries.

The group's shares jumped 3¼p to 205½p.

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