Companies and Markets
Call us on +44 (0) 203 086 8600
Market Research A to Z | Company Profiles A to Z | RegisterRegister | Contact UsContact Us | Shopping Basket Shopping Basket
+44 (0) 203 086 8600 Call us on

Thomas Cook struggling to continue its dominance of the travel market

Industry Sector



28 November 2012


Alex De Angelis

Type of News


The world's oldest travel company, Thomas Cook, reported a statutory loss of £590 million for the twelve months to the end of September - worse than the £518 million loss recorded in the previous year.

Thomas Cook has felt the affects of the problems currently affecting the travel market and has reported widening annual losses due to reduced capacity and higher fuel costs.

Revenue fell to £9.5 billion from £9.8 billion in what the company described as a "difficult trading environment". Despite the loss, the company said the final quarter had been a "major improvement" on a year ago and added it was "optimistic about the future".

The 171-year-old firm is in the process of reorganising its business, and last year cut its aircraft fleet to 35 planes in total and sold off 149 stores.

Thomas Cook has struggled with high debt and the wider downturn in the global travel market. It got into particular difficulty last year when the unrest in the Middle East and North Africa affected its operations in Egypt and Tunisia.

West Europe revenues tumbled by 13.9% after capacity reductions in all markets, especially in France.

North American revenues meanwhile slumped 15.2%, hit by persistent market overcapacity, a very mild Canadian winter and the loss of a key premium hotel contract.Thomas Cook

In May this year, the group secured a £1.4 billion refinancing package, giving it a further three years to repay its debts.

For more information on the travel market, see the latest research: Travel Market

Follow us on Twitter @CandMResearch

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency


Change Currency


Use our research skills: Get free support

Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support

Can't find the exact research required: We can provide you with cost-effective research on any industry or topic

Use our skills and global network of researchers and consultants to help find and source the business information you need.

Contact us now on 00 44 (0) 203 0868600 or "enquiries @" to discuss you requirements and we can provide you with a research solution at suprisingly efficient rates and timelines.

Sometimes we can even find the information you require for free.

Find all the research at the best prices. Great promotions being offered during October!

We are offering our clients substantial savings on the best research available during October. Please contact us either via email or by calling our team to discuss your specific research needs on Tel: 00 44 (0) 203 0868600.


Contrast settings

Text size settings