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Sophie Griffiths: It's consumer confidence versus general uncertainty

Operators
Sophie Griffiths
20 May 2019

Last week was not a good one for the travel sector. “There is little doubt now the Brexit process has led many UK customers to delay their holiday plans for this summer,” admitted Thomas Cook’s chief executive on Thursday (16 May) as the group posted losses of £1.46 billion.

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News of Cook’s losses come as little surprise – speculation around the future of the company and rumours of a potential takeover have been rife in recent weeks, alongside bids for its airline business.


More worrying was the unexpected €287.2 million loss posted by competitor Tui the day before – though the fact Tui’s share price remained steady suggests the City doesn’t expect anything better from the travel sector at the current time.