Heatwave hits Thomas Cook as holidaymakers stay home - Kogonuso

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Jul 31, 2018

Heatwave hits Thomas Cook as holidaymakers stay home

The heatwave sweeping northern Europe was on Tuesday blamed for a dip in earnings at travel group Thomas Cook, with record temperatures at home suppressing demand for last-minute foreign trips.

The British holiday giant, which offers package holidays to northern Europeans looking for summer sunshine, warned that annual earnings were now expected to come in at the lower end of market forecasts.

"The sustained period of hot weather in June and July has led to a delay in customer bookings in the tour operator, restricting our ability to drive margins in the 'lates' market," Thomas Cook said.

The company said the downgrade had been offset slightly by the airline it operates, which performed strongly, especially in Germany.

Its total gross profit fell 3 percent to £443 million ($582 million, 497 million euros) in the three months to June 30.

Britain has experienced its driest first half to a summer on record, with temperatures topping 30 degrees Celsius for several days, according to the Met Office.

Similar high temperatures have also been recorded in Scandinavia and elsewhere in northern Europe during the two-month heatwave.
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