One analyst described Thomas Cook Group’s trading update as “lacklustre”. There was certainly not a lot to get excited about.
The current winter season is now pretty well all sold, which is as one would expect. This summer is about half-sold, again as one would expect, even if the rate of forward bookings is a touch ahead of this time last year.
The two weak areas, continental Europe and northern Europe, are improving gradually. The rate of decline in summer bookings in both has slowed in comparison with the last reported figure. Bookings from northern Europe are lower after Thomas Cook took some capacity out and because of the weakness of the Norwegian economy.
There is nothing here to upset the market. The company