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Thomas Cook boss joins calls for cut to APD in today's Autumn Statement

Operators
Jennifer Morris
23 November 2016

The boss of Thomas Cook has added his voice to calls for a cut to Air Passenger Duty in today’s Autumn Statement.

The industry is being asked for its views on APD reform

Speaking after Thomas Cook released its full-year financial results to September 30, Peter Fankhauser, chief executive, said following the Brexit vote, he wanted the government to take actions which “make it easy for our customers in the UK to get to their holiday destination”.

The operator’s profit after tax was down from £19 million to £9 million.

However the UK business “continued to strengthen”, achieving a record underlying Ebit (earnings before interest and taxes) margin of 6.4%, growing by £33 million to £152 million.

Fankhauser continued: “There is something the government could do, today.