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27 Nov 2018

BY Jennifer Morris

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Thomas Cook to work increasingly with third party carriers for 'more flexibility'

Thomas Cook Group will work increasingly with third party carriers to “increase operational flexibility” next year.

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"We are more cautious in terms of committed airline capacity,” Cook's CEO said

Group chief executive Peter Fankhauser was speaking to media after issuing a profit warning for its full-year results.

 

Underlying Ebit (earnings before interest and taxes) for the year ending September 30 was reported at £250 million – £58 million lower than the prior year on a like-for-like basis and £30 million lower than guidance issued in September.

 

“We are flexible. We are more cautions in our approach for next summer in terms of committed airline capacity,” Fankhauser said.

 

“We will grow more into the dynamic packaging offering along the way when and where we need to increase our capacity.”

 

Asked whether this would mean using third party carriers such as easyJet more than it has this this year, Fankhauser agreed.

 

“Especially in airports where we are not flying with Thomas Cook,” he added. “This is increasing our flexibility.

 

“There will be more to sell in our shops in those regions where we don’t have Thomas Cook offering [at airports].”

 

Meanwhile, Fankhauser said the group had detected “small signs” that customers were booking more into the eastern Mediterranean regions outside of the European Union for next year.

 

“But we don’t have evidence our customers are losing confidence about going on holiday,” he added.

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