Thomas Cook News Page 16
All change at Thomas Cook as Manny Fontenla-Novoa steps down
Troubled tour operator Thomas Cook has confirmed group chief executive Manny Fontenla-Novoa is to step down with immediate effect. Sam Weihagen, currently deputy chief executive, will take on the role on an interim basis while a search process gets underway to identify a permanent successor.
Ryanair out on a limb over BAA charges
Ryanair has launched legal action against BAA in an attempt to recover up to £175 million in fees it believes it incurred at Stansted Airport due to the “monopolistic” position of the airport operator. Also in the UK today, the Competition Commission has confirmed the final ruling on the merger of Thomas Cook, Co-operative Group and Midlands Co-operative Society has been delayed.
Competition Commission provisionally green lights Thomas Cook/Co-operative merger
After raising the ire BAA earlier in the week, the Competition Commission today had better news for the UK travel industry, provisionally giving the go ahead for the proposed merger of Thomas Cook, Co-operative Group and Midlands Co-operative Society. The deal will create the largest travel retail chain in the UK.
Thomas Cook extends banking deal
Travel agent Thomas Cook has confirmed it will extend its banking facilities while it undergoes a “fundamental review” of its activities. The bank facilities – which include a £200 million term loan and an £850 million revolving credit arrangement – were extended by one year to May 2014.
Trouble ahead for Thomas Cook warns Morgan Stanley
Leading financial analysts Morgan Stanley have warned investors to be “cautious” over the future of tour operators generally and Thomas Cook more specifically. Thomas Cook yesterday issued a profit warning - its third in a year – stating trouble in the Middle East and a faltering UK market were hurting the company.
Thomas Cook announces ‘fundamental’ review as profits fall
Thomas Cook has launched a “fundamental strategic and operational review” of its UK business as profits continue to fall. At the close of the third financial quarter the tour operator said profits were some £40 million behind levels recorded last year, with the impact of the ongoing disruption in the Middle East and difficult trading conditions in the UK to blame.
Thomas Cook Sport signs up Arsenal FC
Arsenal Football Club has appointed Thomas Cook Sport as its official travel partner, replacing Thomson Sport. Danny Talbot, managing director of Thomas Cook Sport, said, “It’s fantastic news that Thomas Cook Sport are once again teaming up with Arsenal Football Club, meaning we’re now the official travel partner for the Premier League’s top seven clubs from last season.
Adonia Launch Unlocks Mediterranean Gems
Some of the Europe’s most secluded and picturesque ports are now open to visitors thanks to the launch of P&O Cruises’ newest and smallest ship – Adonia.
London 2012 Olympic – second round of tickets go on sale
The second round of London 2012 Olympic ticket sales has opened but users have reported problems logging on to the website due to a huge demand. Some 2.3 million tickets are being sold for the next 10 days on a first-come-first-served basis.
Adonia launch unlocks Mediterranean gems
Some of the Europe’s most secluded and picturesque ports are now open to visitors thanks to the launch of P&O Cruises’ newest and smallest ship – Adonia. Cruise Thomas Cook, the UK’s number one independent cruise retailer, navigates the brand new ports of call on the cruising charter for those seeking out the hidden gems of the Mediterranean.
Thomas Cook: Savvy couples snap up Turkish delights ahead of the school holidays
According to travel retail giant, Thomas Cook, Turkey will be one of the most popular destinations for UK holidaymakers this summer, and it’s easy to see why. Beautiful beaches, spectacular, lush scenery, historic ruins and vibrant nightlife scattered over a huge variety of resorts mean there’s a Turkish holiday for every couple.
Anger mounts over London Olympics ticketing
London 2012 chairman Lord Coe has defended criticism of corporate ticket allocation after Thomas Cook began selling Olympics tickets at significantly inflated prices. The tour operator was allocated 300,000 tickets in return for a rumoured £20 million sponsorship deal, and has now started selling packages ranging up to £6,499.