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LON250:TCG, Jun 05, 03:27 UTC

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Tuesday, February 11


News

Thomas Cook failure boosts Tui to record January

TCG TUI

Tui, the world’s largest travel group, saw a huge influx of new customers as a result of the bankruptcy of its former rival Thomas Cook, which went broke in September 2019, it said on Tuesday. “January this year was very, very strong,” Tui CEO Fritz Joussen told journalists on an earnings call on Tuesday. The surge in new bookings helped the company withstand the financial impact from the Boeing 737 MAX ban. The Hanover-headquartered travel company said that the ongoing ban on the Boeing aircraft will drag it down during this current financial year, as it will cost between €220m ($240m, £186m) and €245m to lease new planes, but that it is expecting some still-to-be-negotiated compensation from Boeing. For the financial year ending in September Tui said it expected underlying core earnings (EBIT) of between €850m and €1.05bn.

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Thursday, February 06


News

What to Watch: European stocks hit record high, Brexit hits Compass, and OnThe Beach's Thomas Cook ad splurge

TCG BREXIT

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:. European stocks hit new highs on Thursday, as China moved to cut tariffs on the US and fears about the coronavirus epidemic continued to retreat. “While China continues to be stricken by the coronavirus, signs of de-escalation in its trade war with the US could be more relevant to the markets in the long term – particularly if yesterday’s reports of a potential vaccine for the outbreak prove accurate,” said Russ Mould, investment director at stockbroker AJ Bell. The 500-year-old group said that the strikes and potential for delays to the plan, as well as “continued economic uncertainty” could mean that its UK parcels, international, and letters (UKPIL) business will be loss-making in its 2020/21 financial year.

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UPDATE 1-On The Beach Group sees summer growth despite Thomas Cook, 737 MAX capacity crunch

TCG

U.S. UPDATE 1-On The Beach Group sees summer growth despite Thomas Cook, 737 MAX capacity crunch. (Adds details on seat prices, background) Feb 6 (Reuters) - On The Beach Group said on Thursday it expects strong sales growth during the summer, helped by higher marketing spends, as the holiday package provider taps into the market share opened up by the collapse of rival Thomas Cook. On The Beach has flagged opportunities to gain additional market share after Thomas Cook's UK business and airline went insolvent, but that has also hurt capacity in the short term, driving up prices of holidays as ticket prices rise. The company more than doubled its offline marketing spend in the four months to Jan. 31, helping it cushion any hit from the capacity crunch caused by Thomas Cook's liquidation, it said, adding delays in flights services after Boeing's 737 MAX crisis were also driving up seat prices.. On The Beach said it does not expect pricing to fully normalise in the current financial year.

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Thomas Cook India Observes Strong Demand for Domestic Tourism, Launches #BingeOnBharat Campaign to Leverage Growth

TCG

Supports Government’s initiative to bring domestic tourism to the forefront Mumbai, Maharashtra, India – Business Wire India Thomas Cook (India) Ltd., India’s leading integrated travel and related financial services company, spearheads the government’s domestic tourism agenda, by launching its unique #BingeOnBharat campaign- offering Indians the benefit of 15 domestic holidays in 2020 at a truly affordable price of merely Rs 1.5 lakhs per person*. Thomas Cook India’s Travel Trends Report 2020 reveals that the 21 extended/long weekends this year creates significant opportunity for multiple ‘micro-cations’ within India. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Luxe Asia, Kuoni Hong Kong, Sterling Holiday Resorts Limited, TC Forex, Distant Frontiers, TC Tours, TC Visa, Travel Circle International Limited, Ithaka, Digiphoto Entertainment Imaging (DEI), Private Safaris East & South Africa. As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 29 countries across 5 continents, a team of over 9700 and a combined revenue in excess of Rs. TCIL has been felicitated with The Best Travel Agency – India at TTG Travel Awards 2019, The Best Outbound Tour Operator at the Times Travel Awards 2018 & 2019 and Leading Company with Cutting Edge Travel Innovation at the Times Travel Awards 2018, Best Risk Management-Framework & Systems at the India Risk Management Awards 2019; Best Cash Management Solution – India at the Asset Triple A Treasury, Trade, Supply Chain & Risk Management Awards 2018, Excellence in Domestic Tour Operations at the SATTE Awards 2018, Best Travel Entrepreneur of The Year at TTG Travel Awards 2017, The French Ambassador’s Award for Exemplary Achievements in Visa Issuance – 2015 to 2019 and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2019.

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Tuesday, January 28


News

Saga to take one-off hit from Thomas Cook collapse

TCG

Saga to take one-off hit from Thomas Cook collapse. (Reuters) - Saga Plc SAGAG.L said on Tuesday it will record a one-off charge of 4 million pounds ($5.26 million) related to the collapse of Thomas Cook last year, while annual profit was on track to meet its prior outlook. The tourism and insurance firm also said it expects its branded home and motor policies to be about 3% lower for the year ended Jan. 31, as the insurance market remained competitive. Annual revenue for Saga's tour operations is expected to be down 5%, which is in line with the half year, the company said.

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Tuesday, January 21


News

EasyJet first quarter boosted by Thomas Cook collapse

TCG EZJ

Passenger numbers in the quarter increased by 2.8% to 22.2 million, while capacity was up only 1% to 24.3 million seats, so the airline's load factor rose 1.6 percentage points to 91.3%. "I'm pleased that we have made a strong start to the year with continued positive momentum. The improvement in our revenue per seat has been driven by our self-help revenue initiatives combined with robust customer demand and a lower capacity growth market," said easyJet chief executive Johan Lundgren. "Cost per seat is in line with expectations, helped by our Operational Resilience programme which has not only improved overall customer satisfaction in the quarter but also enabled us to manage our costs. "easyJet holidays launched successfully with customers looking to benefit from our unrivalled flexibility, great value and handpicked hotels. "EasyJet began offsetting the carbon emissions from the fuel used for all its flights last November, which it said had been 'received very positively by customers, staff and other stakeholders'. "We, of course, recognise offsetting is only an interim measure and we continue to work on reducing our carbon footprint in the short term, coupled with long-term work to support the development of new technology, including hybrid and electric planes, to reinvent aviation for the long-term," added Lundgren.EasyJet confirmed that Ryanair's chief operations officer has joined as COO. Industry pays tribute to former Thomas Cook and TUI director Marc Bennett.

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EasyJet lifted by tailwinds from strong demand and Thomas Cook's demise

TCG EZJ

EasyJet lifted by tailwinds from strong demand and Thomas Cook's demise. LONDON (Reuters) - British budget airline easyJet <EZJ.L> expects its first-half performance to improve from last year, it said on Tuesday, helped by robust travel demand and a slight easing of competition after the collapse of Thomas Cook. Reporting on the quieter winter period, easyJet flagged an upturn in its revenue per seat and said its first-half headline pretax loss would narrow from the 275 million pounds ($358 million) in the same period last year. The company's first-half revenue per seat is now expected to increase by mid to high single digits, it said on Tuesday, upgrading a previous forecast for it to rise by low to mid single digits after an 8.8% jump in its first quarter.

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Tuesday, January 07


News

Thomas Cook India inks pact with Experience Hub to drive visits to Yas Island Abu Dhabi

TCG

The agreement will further engage the India market for the destination in 2020 and beyond through the implementation of initiatives including product development and training-engagement, Thomas Cook India said in a filing to the BSE. Travel services firm Thomas Cook India on January 7 said it has entered into a long-term pact with Experience Hub, the trade and promotion arm of Yas Island Abu Dhabi, to drive visits to the destination. "Our Thomas Cook 2020 India market trend analysis reveals high potential for multiple micro-cations and enriching experiences and Yas Island is hence a significant opportunity," Thomas Cook (India) Ltd President & Country Head – Holidays, MICE, Visa Rajeev Kale said. In the company's focus to target this growth potential and amplify travel experiences for the customers, it is partnering with Yas Island's Experience Hub to create an exciting one-stop-entertainment destination for its diverse range of Indian travellers, he added.

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Friday, December 27


News

Union calls for inquiry into Government handling of Thomas Cook collapse

TCG

Calls are being stepped up for a fresh inquiry into the previous government’s handling of the collapse of travel giant Thomas Cook after a study suggested most former employees are still out of work. The union said most former Thomas Cook employees had made cutbacks over Christmas. Many of those who have found another job are earning less than when they worked for Thomas Cook, or were on contracts which were less family friendly, Unite said. “A profitable airline was allowed to collapse into liquidation and then the workers who have paid taxes all their working lives have had to deal with the complex procedures to get what they are owed and have even been blocked from claiming the benefits they are entitled to,” she said.

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Monday, December 23


News

Thomas Cook refunds hit £290m

TCG

More than 90% of Thomas Cook customers who claimed an Atol refund have been paid, according to the aviation regulator. The Civil Aviation Authority (CAA) said it has paid out £290 million after settling 300,000 claims relating to financially protected package holidays. Many Thomas Cook customers have taken to social media in recent weeks to express their frustration over the time it is taking to get their money back after the firm collapsed in September. CAA chief executive Richard Moriarty said: “This process has been made more challenging by the complexities of the booking data we have received from Thomas Cook, as well as the additional security checks we have had to include to reduce the risk of fraudulent claims.

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