Greek holidays drive revenue upward at Thomas Cook

Greek holidays drive revenue upward at Thomas Cook

Returning demand for holidays in Greece, couple to a boom in long-haul travel, has seen revenues rise by three per cent during the first half of financial 2017.

Reporting results for the six months to March 31st, the tour operator said revenues rose 3.2 per cent to £2.9 billion.


However, pre-tax losses widened by 11 per cent to £314 million.

This was largely due to the costs associated with a bond refinancing.

Thomas Cook chief executive Peter Fankhauser said: “As we look ahead to the key summer season, we are seeing strong customer demand across most of our markets.

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“Greece continues to be the standout destination for summer 2017 while customers are also seeking out smaller European destinations like Cyprus and Bulgaria, as well as travelling further afield.

“In contrast, following strong growth last year, bookings to the Spanish Islands have levelled off in a very competitive market.

Revenue for Greek holidays rose 36 per cent over the period when compared to last year.

Greece appears to have gained from the political uncertainty in Turkey, where Thomas Cook revenue fell by 41 per cent during the first half.

Underlying operating profits for the full year to be in line with market expectations.